Crypto ads will likely invade the Super Bowl this year because a lot of crypto companies want to be exposed to the mainstream so let’s find out more in our latest cryptocurrency news.
The Cincinnati Bengals will face the Los Angeles Rams in LA and the broadcast will feature more crypto ads than ever. FTX the well-known exchange bought a Super Bowl ad in October and a few days before Christmas, rival exchange Crypto.com followed. The cost of a crypto ad is $6.5 million for 30 seconds of airtime but the crypto exchanges are full of money from trading fees as the crypto surged during the pandemic.
The crypto Super Bowl ads are a part of a bigger trend and crypto exhcnages like FTX, Coinbase, Crypto.com, and Binance are pouring millions into sports marketing to hit a new customer pool and become recognized. X and crypto.com could not be the only names that we will see in this year’s Super Bowl. Big companies are pivoting to sports ads for a huge reason and that is recognized as CEO of FTX Sam Bankman Fried noted:
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“We are really coming from behind on name recognition. When someone’s looking to get involved in crypto for the first time, we’ve found that they haven’t heard of FTX.”
Crypto.com CEO Kris Marszalek said:
“Going into different sports just allows me to reach everybody where they are. Super Bowl is just one more step into that, where it’s as mass as you get.”
While both FTX and Crypto.com spent millions on Super Bowl ads, this is not the first time that rival companies will put their names together on a sporting event or a sporting area. Crypto.com paid a whopping $700 million for naming rights of the LA Lakers’ home stadium and now the Lakers will play at the Crypto.com arena. FTX also landed a 19-year deal with the NBA Miami Heat arena. The new partnership was only the beginning as the CEO was busy landing an array of other high-profile deals.
Coinbase hasn’t announced a super bowl ad but it is hot on fTX’s heels in sports spending. The exchange became the NBA and WNBA official sponsor. Last month, it landed a deal with NBA star Kevin Durant. Crypto exchanges are not the only ones that are entering the football field. NFTs pushed their way into crypto as well. Bud Light also started using Nonus NFT as a part of its Nonus DAO vote.
And then there’s Bored Ape Yacht Club. This year’s Pepsi-sponsored halftime show is a who’s who of the world’s most famous rappers, including Eminem and Snoop Dogg, both of whom own Bored Ape NFTs.
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