Crypto.com and FTX, two cryptocurrency exchange platforms, will air adverts during Super Bowl LVI on February 13. Both exchanges have been working hard to establish their brands and get a foothold in the US market.
Advertisements during the Super Bowl are notoriously expensive, with costs exceeding $5 million for just 30 seconds. For the same amount of broadcast time, some advertisers are ready to spend up to $6.5 million.
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 the firm is using its platform “in innovative and creative ways so that cryptocurrency may power the future of world-class sports, entertainment, and technology” in an official release.
FTX spends magnificent efforts to improve brand recognition
Meanwhile, FTX spends a significant portion of its advertising budget in the United States to improve brand recognition. The exchange said in October that it would broadcast an ad during the Super Bowl. Tom Brady and Gisele Bündchen also cast in a $20 million commercial as a result of the deal.
FTX also got naming rights to a stadium in the United States earlier this year. The FTX Arena will be renamed after the exchange paid $135 million for a 19-year lease to rename the Miami Heat’s home arena.
In 2020, nonfungible tokens allowed blockchain to infiltrate the Super Bowl (NFT). Avocados From Mexico, a non-profit trade organisation, used NFTs in their promotion. Users can gain blockchain-based incentives by collecting digital avocados.
The feedback was highly positive, according to Ivonne Kinser, head of digital marketing for Avocados from Mexico. The ad campaign, according to Kinser, resulted in “3.2 billion social impressions”.