Bitbuy’s Canadian Super Bowl commercial starring Toronto Raptors forward Scottie Barnes may be the only North American crypto ad to air during the NFL’s championship game this year—a huge change from last year’s so-called “Crypto Bowl.” 

Binu Koshy, the Toronto-based crypto-trading platform’s head of communications, talked to The Logic about how Bitbuy signed Barnes as a spokesperson, how it soothed concerns about other celebrity crypto deals gone sour and why it decided to spend big on the ad while its competitors sat this year out. (Barnes’s agent, BDA Sports Management, did not respond to a request for comment, and Raptors spokesperson Jennifer Quinn declined The Logic’s interview request with Barnes.)

Big spenders: Times are tough for crypto-trading platforms following FTX’s collapse. Bitbuy is no exception, with the value of parent company WonderFi’s stock falling nearly 88 per cent over the past 12 months as the firm reportedly pursues talks to be acquired by rival Coinsquare. Koshy said the company saved money by purchasing an earlier ad slot in the game. “We decided to take a calculated risk,” he said. 

Trust us, we’re registered: Barnes, who was the NBA’s rookie of the year last season, would be a big get for Bitbuy under any circumstance, but the partnership is especially notable considering the bad press and lawsuits many celebrities endured after endorsing crypto firms that blew up when the market crashed. Koshy said Bitbuy’s registered status in Canada helped assuage worries about Barnes getting caught up in an FTX-like scandal. “Once those concerns were alleviated, they were full in and they wanted to partner with us,” Koshy said. Koshy also said Barnes’s agents liked that the ads let the Raptor show off some acting skills.

Will the Crypto Bowl come back?: All the crypto ads that aired during last year’s Super Bowl reminded many of the so-called “Dot-Com Bowl” of 2000, which turned out to foreshadow the bubble bursting. The networks don’t disclose what advertisements will air in advance, but blockchain gaming company Limit Break appears to be the only firm from a related industry to have purchased an ad in the U.S. or Canada this year, with Bitbuy’s the only commercial from a crypto-trading platform. Koshy said he’s not sure whether Bitbuy will do another Super Bowl ad in the future, but celebrity partnerships like the one with Barnes are really helpful for brand awareness and relatability. “We would love to have a long-term relationship with Scottie,” he said.