FTX Buys Ad Time During Super Bowl
- FTX’s marketing strategy focuses on sports as the fastest growing customer base for crypto adoption, and football was the top priority.
- It remains unknown how much FTX had to pay for its ad spot, but the going prices for NBC was around $6.5 million.
Elevated view of Gillette Stadium, home of Super Bowl champs New England Patriots, Foxborough, Boston, October 16, 2011 Joseph Sohm/Shutterstock
Crypto exchange FTX has purchased an advertisement spot during the National Football League’s Super Bowl game taking place on 13 February 2022, Bloomberg reported on 26 October.
FTX, which recently reached a valuation of $25 billion, is no stranger to advertising its services to sports fans, and the Super Bowl is without a doubt the largest sports event in the United States, with the last one attracting an average of about 92 million viewers. While the exchange is yet to disclose the amount it had to pay to secure its spot, or what its ad will include, NBC’s going price is reportedly around $6.5 million. The CEO of FTX, Sam Bankman-Fried, said in a statement:
“Our message throughout this year has been that crypto is safe, accessible, and ready for the mainstream. We’re inviting everyone to check it out, and here to help them on their journey. There is no bigger, more mainstream event to share a message like that than the Super Bowl.”
It appears that FTX is trying to bank on sports fans’ familiarity with cryptocurrency, with a recent Morning Consult research showing they are about twice as likely as non-sports fans to be familiar with crypto, and about three times as likely to say they are “very” familiar with them.
Back in June FTX became the official sponsor of Major League Baseball, and also secured long-term partnerships with seven-time Super Bowl champion Tom Brady and Brazilian super model Gisele Bündchen, who now own stakes in the exchange and serve as ambassadors for FTX. The exchange was also able to reach an agreement with the Miami-Dade County, changing the name of the Miami Heat’s stadium to the FTX Arena for the next 19 years.
- Nike will begin airdropping 106,453 “posters” for its “Our Force 1” NFT collection on Tuesday, giving .Swoosh users early access to the virtual sneakers.
- The sale of the NFT collection will begin on 10 May, or 8 May for poster holders, and each digital box will be prices at $19.82, a tribute to the year the Air Force 1 sneaker was first released.
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- The deal will see OKX’s logo appear on both the men’s and the women’s Manchester City training gear for the 2022-23 season.
- The exchange also revealed it had commissioned four street artworks in Manchester, which will include a QR code giving fans a chance to win season tickets to the OKX Hospitality Box.
- The company said the move was made “to protect and preserve assets”, and was caused by “extreme market conditions”.
- Over the last few days the company has also moved massive amounts of wBTC and ETH from the Aave platform to the FTX exchange for unknown reasons.