Crypto Wins Big In Shopify; Loses On The SuperBowl 2023 Ad Pageant

Author: samanvya Published on: February 17, 2023

As the number of cryptocurrency holders increases, it is anticipated that their usage will increase in 2023 as fans utilize it on point spreads. Even though growth has been exponential, there are numerous grounds to believe it will continue to rise.

As more people learn about cryptocurrencies and the underlying technology, the number of people who use them will inevitably increase. It could result in more firms and individuals adopting it, increasing the demand for cryptocurrencies.

Even if crypto had a challenging year in 2022, the industry is continuously developing and evolving. The future year will bring new chances to seasoned investors and newcomers to the digital currency market.

Shopify Integrates Blockchain Commerce Tools

The Ottawa-based e-commerce giant Shopify has been adding crypto-related functionality to its website. The agreement with Crypto.com last year was only the most recent that enabled retailers to accept cryptocurrencies.

As part of a new set of connect-to-consumer initiatives that began last year, Shopify will let merchants communicate with customers and increase sales by providing token holders with special merchandise. The program “token gate” is currently available for early access in the beta version.

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The token-gating of application programming interface (API) tools and the expansion of crypto wallet connect functionalities have received special consideration. Since June 2022, the latter has been under early access beta access. Before that, only a select few retailers could use it.

The system has been updated to include Crypto.com. Shopify serves as the payment processor. Merchants on Shopify can now take cryptocurrencies as payment.

Using Crypto.com Pay, Shopify-integrated merchants can immediately receive cryptocurrencies without incurring transaction fees. This alternative is advertised as a real-time, off-chain service available to all Crypto.com users, not just Shopify merchants.

Shopify has officially announced a collection of blockchain-based commerce tools to enhance the customer experience of Web3-centric stores hosted on its platform. The token-gating of application programming interface (API) tools and the expansion of crypto wallet connect functionalities have received special consideration.

The technology examines the user’s wallet to determine their eligibility. It is advertised as a simple way for NFT Merchants to reward specific consumers or develop exclusive products.

Tokengating enables all Shopify merchants who can utilize it to determine which token holders have access to unique products, non-fungible token (NFT) drops, and benefits and which do not.

Crypto Misses Out on Superbowl’s 2023 Ads Plan

Every year in the middle of winter, families and friends gather for a few hours of competition, partying, and entertainment on Super Bowl Sunday.

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This year’s matchup will feature the Kansas City Chiefs and Philadelphia Eagles. As usual, the concert features A-list artists at halftime, this time headlined by Rihanna.

This year’s most anticipated advertisement may be for M&Ms, which have only lately gained popularity in the United States.

This year’s event will not feature cryptocurrency advertisements. A Fox Sports executive vice president of ad sales stated that despite the declining price of cryptos, four crypto firms had booked or were close to booking advertising this year. However, following the crash of FTX, they all canceled.

The average 30-second ad costs $6 to $7 million, which is a substantial amount. This is over ten times the cost of an advertisement during the 2022 World Cup matches.

Last year, there were so many advertisements for cryptocurrencies during the Super Bowl from companies such as Coinbase, Crypto.com, and FTX that the game was dubbed the Crypto Bowl. After a year of plummeting crypto prices, an industry-wide wave of bankruptcies, and layoffs instead of growth, the advertising will not be present at this year’s event.

Last year, in a one-minute advertisement that cost $14 million, Coinbase displayed a QR code bouncing across the screen. eToro discussed the “potential of social investing,” and FTX paid Larry David to advise us not to overlook bitcoin.

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The Super Bowl, the annual championship game of the National Football League, is viewed by around 100 million people worldwide. This makes it one of the most outstanding venues to advertise for businesses.

In 2022, bitcoin companies spent close to $54 million on Super Bowl advertisements, according to MediaRadar. According to brand and data analytics expert Kantar, NBC earned $578 million in advertising revenue from last year’s Super Bowl, an increase of $143.8 million from the previous year. This year, Fox Sports will broadcast the event.

Author: samanvya

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