Some of the world’s biggest crypto exchanges are paying millions of dollars for TV advertisements during the Super Bowl.
According to a report from The Wall Street Journal, crypto exchanges Coinbase Global, FTX and Crypto.com are buying up ad slots during the NFL’s big finale for top-tier prices. It will be the first time crypto companies have had advertisements in the Super Bowl.
FTX CEO Sam Bankman-Fried said that buying advertisement slots during the Super Bowl was a way to promote the exchange’s name and that it was “hard to find a higher-profile” way of doing so.
FTX said via Twitter that it would be giving out millions of dollars of free Bitcoin as part of its Super Bowl commercial.
We're giving some #bitcoin away!
How much? $1 million worth?! $1.5 million worth?!!?! We don't actually know yet.
The later our Big Game ad airs, the more #bitcoin you can win. See you Sunday! #FTXcontest
No purchase necessary. Subject to T&C: https://t.co/L7o8Jz25TT pic.twitter.com/mfA0q2FIFG
— FTX – Built By Traders, For Traders (@FTX_Official) February 7, 2022
According to AdWeek, the crypto exchanges will be shelling out as much as $7 million for each 30-second window of advertisement.
Crypto’s entrance to the US’ biggest sporting and television event comes after a series of large investments from firms within the digital asset industry.
Late last year, FTX inked a deal with the NBA’s San Francisco-based Golden State Warriors to be the team’s official cryptocurrency platform and distributor of non-fungible tokens (NFTs). The crypto exchange also paid $17,500,000 for the naming rights to California Memorial Stadium, and in addition, signed a 19-year partnership agreement worth $135 million which included the renaming of the Miami Heat’s stadium to FTX Arena.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shuttestock/Tithi Luadthong