Top crypto exchanges plan to spend millions on marketing in the coming months as they try to reach the mainstream, offering a welcome trickle of new revenue for ad agencies still recovering from the pandemic, reports Business Insider.
Crypto companies have mostly avoided traditional advertising, instead using PR to target investors and a community of enthusiasts on platforms like Reddit and Twitter.
But, continued Business Insider, “crypto companies have attracted $8.6 billion in funding so far this year, easily surpassing 2020’s $3.4 billion total. Chief strategy officer Elizabeth Paul of The Martin Agency, which recently was hired by Coinbase, predicted at least one crypto brand would air a Super Bowl ad in the next two years.
“US ad budgets for two of the biggest exchanges, Coinbase and eToro, shot up 57% and 230% to $16.3 million and $6.4 million last year, respectively, according to Kantar.”
The Martin Agency is based in Richmond, VA.