Crypto companies will air advertisements during and around the Super Bowl for the first time. They will be marking a watershed event in the industry’s recognition.
Leading cryptocurrency exchanges hope to entice Super Bowl fans. They will be spending millions of dollars on commercials that will air this Sunday.
Despite a shaky start to 2022, capital inflows have lifted the market’s worth back up to just under $2 trillion. It has a total market cap falling by 30% at the YTD low
Sam Bankman-Fried, the co-founder of FTX, is confident that the recent glitch would not deter the general public. He tells out that cryptocurrency has been one of the most successful areas in recent years.
Reaching Out to the Masses
A slew of sports sponsorship deals demonstrates how crypto companies hope to increase acceptance and brand exposure.
Binance’s financial backing of the Africa Cup is one of the most notable partnerships. They are concluding it with Senegal who won the 2022 champions after a 4-2 penalty shoot-out victory over Egypt on Sunday
Africa will see Binance continuing to push its adoption efforts on the continent. This is according to Chief Market Officer Yi He.
Crypto.com, which paid $700 million for the name rights to the Los Angeles Arena, which is home to the Lakers, Clippers, Kings, and Sparks, is the largest sponsorship deal to date.
They are linking Sports and cryptocurrency according to Steve Ehrlich, CEO of trading app Voyager Digital. As a result, he believes it’s only logical for crypto companies to focus on sports.
Millions of Dollars for an Ad
The 2008 Summer Olympics in Beijing were the most-watched sporting event in history. According to the Bleacher Report, it has 4.7 billion views.
The Super Bowl is ranked sixth, with 111 million viewers watching last year’s game. The Super Bowl is easily the biggest sporting and television event in the United States, despite being significantly less than the 2008 Olympics. Especially because the audience count of 111 million is thought to be under-reported.
Advertisers can pay as much as $6.5 million for a 30-second spot during this year’s game. It will be between the Cincinnati Bengals and the Los Angeles Rams.
Coinbase, FTX, and Crypto.com are all prepared to cover the cost of their Super Bowl commercials. Binance, on the other hand, will place advertisements throughout the game.
The Wall Street Journal emphasized the importance of this, stating that it will be the first time crypto businesses will advertise on “the world’s largest stage.”
According to WSJ reporter Paul Vigna, they will be expecting the result to be an “unveiling moment” for the whole crypto business.
What better way to reach the public than through Super Bowl advertising, which has become as much of a spectacle as the game itself?