Cryptocurrency exchanges and other financial services companies were stars amid a Super Bowl ad blitz that featured the return of many longtime sponsors and an overall more celebratory mood than last year.
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The Los Angeles Rams emerged victorious, 23 to 20, over the Cincinnati Bengals in a surprisingly close match that saw the hometown team score a come-from-behind touchdown with less than two minutes left in the game. NBC, which broadcast the game, said it sold more than 70 spots, with some costing as much as $7 million for 30 seconds.
This was the first Super Bowl to feature crypto ads. Coinbase Global Inc., an exchange for the currencies, generated early online buzz with an ad featuring a QR Code that viewers had to scan to find out what the spot was about. Those who did were invited to “Sign up and get $15.”
FTX Trading Ltd., another exchange, ran an ad with comedian Larry David portraying skeptical figures during great moments in history. After scoffing at the invention of the light bulb and man landing on the moon, David suggests crypto will never amount to anything. “And I’m never wrong about this stuff,” he says.
Crypto.com’s spot featured basketball great LeBron James looking at his past and offering advice for the future.
Online broker E*Trade Financial, meanwhile, brought back its popular E*Trade baby character after an eight-year hiatus. In the spot the baby is reluctant to return to work but is convinced to do so when he hears that investors are getting financial tips from memes.
“It’s certainly a new world when it comes to investing, amid NFTs, crypto currencies, meme stocks, and the rise of the retail investor,” said Andrea Zaretsky, chief marketing officer at the wealth management division of Morgan Stanley, which now owns E*Trade. “But the reality is that the principles around sound personal investing remain as true today as they were a decade ago.”
Nissan Motor Co. returned to the Super Bowl after a seven-year break with a comedic action-movie spoof starring Eugene Levy, while the cast of “Austin Powers” reunited in a 90-second ad for General Motors Co. The commercials are part of a broader return by carmakers after many skipped last year’s game. Several highlighted their electric vehicle lineups, including a Chevy spot inspired by “The Sopranos” that was trending on Twitter throughout the game.
Read the full article here by Martine Paris and Mary Biekert, Advisor Perspectives
