Crypto exchange platforms like FTX and Crypto.com are shelling out millions for Super Bowl commercials this year
Crypto is coming to the Super Bowl.
Super Bowl fans are used to seeing ads for Budweiser BUD, 3.41% and Coca-Cola KO, 1.95% during the big game. Now bitcoin BTCUSD, -1.19% and ethereum ETHUSD, -2.80% are getting some time to shine.
Yes, for the first time ever, the Super Bowl will feature ads from cryptocurrency exchanges when the Cincinnati Bengals face the Los Angeles Rams on Sunday.
“Cryptocurrency is becoming more mainstream every day,” Tim Calkins, clinical professor of marketing at Northwestern’s Kellogg School of Management, told MarketWatch. “These companies are desperately scrambling to bring in new customers. People sign up for a particular firm to invest in cryptocurrency and they tend to stay with that firm.”
NBC, the NFL broadcast partner that is televising the Super Bowl, has stated that multiple 30-second ads for this year’s game went for over $7 million per slot, which is a 20% increase from 2018.
And one of the companies shelling out millions for Super Bowl commercial time is crypto exchange FTX.
FTX CEO Sam Bankman sees the Super Bowl’s nearly 100 million-person audience as a good way to inform the masses about his company — and cryptocurrency, in general.
“There is no bigger, more mainstream event to share a message like that than the Super Bowl,” Bankman said about buying the ad time. FTX has also signed endorsement deals with major athletes like Tom Brady and Stephen Curry.
https://www.marketwatch.com/story/super-bowl-commercials-will-include-crypto-ads-for-the-first-time-ever-11644436289