Super Bowl LVII featured dozens of commercials showing the latest products, movie trailersand celebrity endorsements.
One thing that was notably missing was a large number of cryptocurrency companies using the Super Bowl to advertise their product.
Heres a look atSuper Bowl LVI, which was nicknamed the Crypto Bowl, and how much an investment in Bitcoin would be worth now.
What Happened: Super Bowl LVI aired on NBC on Feb. 13, 2022. The big game earned the nickname The Crypto Bowl by many in the industry thanks to the higher number of cryptocurrency-related companies advertising during the game for the first time.
With 30-second commercials commanding a price tag of around $6.5 million, cryptocurrency companies shelled out big bucks to get their product in front of over 100 million people that watched the Los Angeles Rams defeat the Cincinnati Bengals.
Among the companies that advertised during the Super Bowl were FTX, Crypto.com, Coinbase Global IncCOIN and eToro.
Coinbase saw their Super Bowl commercial, which featured a floating QR code, go viral and lead to more user signups during the big game.
Months after the Super Bowl, troubles would continue for the cryptocurrency sector. Among the biggest issues was the bankruptcy of FTX, whichwas a big spender during the Super Bowl.
Many have poked fun at the cryptocurrency commercials airing during the Super Bowl being similar to the large number of dot-com companies that aired commercials during the 2000 Super Bowl. A total of 14 companies with .com in their name advertised during the game. Less than half of the companies are active today, with several getting bought out and others fading away.
The 2022 Super Bowl, which took place on Feb. 12, 2023, featured no commercials from cryptocurrency companies. Cryptocurrency commercials were not banned during the game, but four companies that were close to deals or had signed commercial deals ultimately backed out before the big game.
Super Bowl LVII did feature one commercial for Limit Break, a Web3 gaming company that has released several NFT collections. The ad featured a QR code that took users to a free claim for an NFT if they were among the lucky first people to scan or to the Twitter profile of Gabriel Leydon, CEO of Limit Break.
Related Link: How To Buy Bitcoin
Investing $1,000 in Bitcoin: With the many commercials from cryptocurrency companies airing during Super Bowl LVI, viewers may have been willing to invest in the sector, including the leading cryptocurrency Bitcoin BTC/USD .
Bitcoin traded between $41,950.94 and $42,693.05 on Super Bowl Sunday in 2022. The cryptocurrency closed at $42,197.52, which is the starting price point for thishypothetical investment exercise.
An investor could have bought 0.0237 Bitcoin with a $1,000 investment after Super Bowl LVI aired.
The $1,000 investment would be worth $513.22 today, based on a price of $21,654.73 for Bitcoin at the time of writing.
This represents a loss of 48.7% on the hypothetical investment.
For comparison, the SPDR S&P 500 ETF Trust SPY is down 6.6% from the morning after the Super Bowl (Feb. 14, 2022) to now.
Bitcoin has traded between $15,559.05 and $48,086.84 over the last 52 weeks.
The hypothetical investment shows that while companies shell out millions of dollars to advertise their products during the Super Bowl, it doesnt mean they are always worthy investments that will go up in value.
Read Next: Will Bitcoin Go Back Up? Bitcoin Price Prediction
Photo:Andrew Angelovvia Shutterstock
