On February 13, the cryptocurrency exchange platforms Crypto.com and FTX will air adverts during Super Bowl LVI. Both exchanges have been working hard to create their brands and get a foothold in the American market.
Super Bowl commercials are notoriously expensive, with rates exceeding $5 million for only 30 seconds. Some advertisers are willing to spend up to $6.5 million for the same amount of air time.
Crypto.com recently announced a collaboration with the Angel City Football Club, a soccer team set to debut in 2022. Aside from that, the exchange is working to secure naming rights for the Los Angeles Staples Center. The exchange paid $700 million for the branding rights over a 20-year period. The Staples Center will be renamed the Crypto.com Arena in December as a result of this.
Crypto.com co-founder and CEO Kris Marszalek stated in an official statement that the company is utilising its platform “in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment, and technology.”
Meanwhile, FTX spends a significant portion of its advertising budget on increasing brand awareness in the United States. The exchange announced in October that it would broadcast an ad during the 2018 Super Bowl. Tom Brady and Gisele Bündchen were also cast in a $20 million ad campaign as a result of the deal.
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FTX also obtained naming rights to a stadium in the United States earlier this year. The FTX Arena was purportedly renamed after the exchange paid $135 million for a 19-year contract to rename the Miami Heat’s home arena.
In the year 2020, nonfungible tokens were used to infiltrate the Super Bowl (NFT). Avocados from Mexico, a non-profit trade organisation, used NFTs in its advertising campaign. Users can collect digital avocados and gain blockchain-based prizes by doing so.
The results were overwhelmingly good, according to Ivonne Kinser, head of digital marketing for Avocados From Mexico. The ad campaign, according to Kinser, generated “3.2 billion social impressions.”
