Apparently, the exchange FTX bought ad space for the Super Bowl back in October.
FTX brings crypto ads to the Super Bowl
We all know that the cost of an advertisement inside the Super Bowl LVI is not to be underestimated, we are talking about a six-figure sum: $6.5 million for just 30 seconds of transmission.
We can say that these massive uses of capital in sports marketing, by the big crypto companies, have never been so strong and evident.
FTX’s initiative was in fact only a feeble response to similar investments made by companies like Crypto.com, Coinbase and Binance.
Cryptocurrencies try to reach mass adoption
Obviously, the goal of the big crypto companies is to get closer to mass adoption, reaching through these aggregation spaces, no matter if virtual or physical, all those potential users who still do not know or do not use cryptocurrencies.
As already mentioned, FTX is not the first to invest in crypto advertising in the world of sports.
In November 2021, in fact, Crypto.com spent $700 million on naming rights for the Los Angeles Lakers’ stadium – the Staples Center.
It was also the sponsor of the Italian Cup final last year.
In addition to the recent deal for Super Bowl LVI, FTX also signed a 19-year deal with the NBA’s Miami Heat in April, making it the team’s exclusive official partner! Thus the American Airlines Arena, the Heat’s stadium, will now also be dubbed FTX Arena for over 20 years.
But it’s not over here, because FTX’s partnership with the Miami Heat and its advertising in the field of Super Bowl LVI is just the tip of the iceberg.
In fact, FTX has recently concluded other agreements with other important players in the sports world such as: the Golden State Warriors, the Washington Wizards and the Washington Capitals of the NHL.
Coinbase chooses the NBA
Coinbase is also defending itself well and is not losing ground in the race for sports-oriented sponsorships.
In fact, the American exchange has become the official cryptocurrency partner of the NBA and the WNBA, thus securing an important presence in the world of basketball.
Moreover, last month it seems to have signed an agreement with the NBA star – Kevin Durant.