According to reports, FTX, the booming cryptocurrency exchange and crypto derivatives exchange, was recently able to purchase an ad for next years Super Bowl.
The Super Bowl is the biggest event in American football. The Super Bowl is the National Football League’s annual championship game. Sport Casting data shows that the NFL is the most lucrative professional sports league in America and Canada with revenues of approximately US$13 billion. The MLB and NBA respectively generate roughly $10 billion and $7.4 billion, respectively.
The Superbowl Is The Best Way to Spread the FTX’s Message
The Super Bowl ad would allow FTX to be presented to a potential audience in excess of 91 million viewers. Sam Bankman Fried did the math and, according to Business Insider statements, FTX CEO is convinced that sports is the ideal place for new users.
“Sports fans know 2x more about crypto than non-sports fans.” Nearly three times as likely are avid sports fans to know about crypto than non-sports fans.
Bloomberg reported that FTX’s CEO, FTX, stated that the Super Bowl audience was perfect for spreading the message that cryptocurrencies can be easy and safe.
“Crypto is safe, accessible and ready to go mainstream. This has been our message all year. We invite everyone to take a look and are here to support them in their journey. The Super Bowl is the best event to spread a message such as that.
The company didn’t provide any further information about the ad or its price. However, Statista reported that advertisers paid approximately 5.6 million dollars to air a 30-second-long commercial during the Super Bowl.
Average Super Bowl TV advertising costs from 2002 to 2021 (in millions of dollars). Statista
Sports and crypto
Sam Bankman Fried’s strategy of combining crypto and sports is not new. Previously, FTX was the first official cryptocurrency exchange to sponsor a league of sports by signing a contract for Major League Baseball.
Similarly, FTX purchased the naming rights for the American Airlines Arena and renamed the arena FTX Arena. The official home of the Miami Heats pro basketball team was also made available by FTX.
FTX announced today that David Ortiz, a former Boston Red Sox player and renowned for breaking the 500 home run record in MLB history, has joined the exchange to become its global ambassador.
How to trade crypto Trade crypto with @FTX_Official
Big PAPI is in if @StephenCurry30 or @TomBrady are there! You can find it here!
I am excited to join FTX and begin my crypto journey. Vamos! !#FTXPartner pic.twitter.com/xcJnsR26mf
— David Ortiz (@davidortiz) October 27, 2021
Coinbase, a rival exchange, is also looking to get a piece of the action with a sponsorship deal. Coinbase is the only US-regulated exchange whose shares can be publicly traded.
It appears that cryptocurrency is set to be a global phenomenon by 2021. The world of sports provides the ideal platform for this industry.
Marla Brooks – Financial Analysis
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