Crypto Exchanges Vie For Ad Spots At The Superbowl
According to NBC, companies pay up to $7m to show their ads for 30 seconds. But the crypto executives agree that their firms will benefit greatly from the ad spend.
FTX’s Analysis For Running The Ad
A top-level executive of FTX, Nathan Whitemore, told Tokenhell that “the Superbowl is the only event where customers are excited about watching ads.” He added that “one of the big traditions of the game is watching and choosing your best-loved Superbowl ad. Hence, we are excited that our ads can be one of those that will be watched.”
The NBC stats revealed that 45% of the 35 advertisers during this year’s Superbowl didn’t run any ads last year. NBC further revealed that the travel, automotive and technology industries make up the highest number of new advertisers.
An official statement from FTX states that there would be a BTC giveaway for the contest that would start when the ad runs. While no FTX official was willing to disclose details about the ad, it is a given that star power will be on display.
One of the FTX ads features Tom Brady and his family; Brady is one of the Superbowl greats, winning the event seven times. Other FTX ads also feature athletes like Shohei Ohtani and Steve Curry.
A Great PR For The Crypto Industry – Injective Labs CEO
Whitmore further disclosed that “this game is a crowning moment to the year that has seen the unprecedented awareness and adoption of the crypto industry.” He added that “it is the year when the highest number of Americans have been involved in cryptos, whether as investors, traders, or digital art creators. Hence, we thought that bringing crypto to the big game at this time would be in the best interest of everyone.”
Whitemore also said FTX will still run more ad campaigns this year despite the huge financial outlay invested in the Superbowl ad. Injective labs chief executive, Eric Chen, claimed that the Superbowl would be a major spotlight for the crypto industry, and it will be the first time that is happening.
He added that “FTX’s advert is coming on the back of a consolidation phase for the general crypto market following the high volatility witnessed in the market last year.” “While it is certain that the ad will create more awareness for the crypto industry and the FTX brand, no one can predict knock-off of this ad spend on the company or investment,” Chen concluded.
Bitbuy Changes Target Audience To Gen X And Baby Boomers
Bitbuy’s Superbowl ad will feature NBA super-star (kyle lowry). Three years ago, Lowry (who now plays for the Miami Heat basketball team) won the NBA title with the Canada-based basketball team, the Toronto raptors. Bitbuy’s marketing director, Binu Koshy, revealed that the company decided to target new customer audiences through a different ad media, targeting an audience segment through digital channels.
Koshy revealed that the Canada-based crypto exchange would be spending 26% of its ad budget for the year on this Superbowl ad and the signing of the NBA star.
He added that “the ad spend is nothing compared to the massive advantage this event will give to our company.” Besides FTX and Bitbuy, Coinbase and Crypto.com are other exchanges promoting their businesses during the Superbowl event.
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