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Crypto Ads to Pop up in Super Bowl

Cryptocurrencies may dominate this Super Bowl ad, emerging as the winner. Coinbase Global Inc., the largest U.S. exchange, as well as exchanges FTX and Crypto.com will all be involved, according to a person familiar with the matter. Canadian exchange Bitbuy had an advertisement during the Canadian broadcast.

A 30-second ad on NBC run of past Super Bowl commercials could cost as much as $7 million. Advertising in the Super Bowl is a money-spinner business.

“It’s a way to get our name out there,” said FTX founder Sam Bankman-Fried. “In terms of venues to do that, it’s hard to find a higher-profile one than this

According to sponsorship consultancy IEG, the crypto industry has surpassed airlines, fast food restaurants, and wine and spirits companies as the industry that sponsors the most sports.

In the sports arena, two exchanges, FTX and Crypto.com, have been particularly aggressive.

On December 15, FTX Derivatives Exchange inked a global sponsorship deal with professional NBA basketball team Golden State Warriors, a move that will provide FTX brand presence throughout the team’s stadium known as the ‘Chase Center’.

Earlier as reported by Blockchain.News on August 24, The American cryptocurrency exchange giant FTX sponsors the University of California, Berkeley (UCB) with $17.5 million in cryptocurrency in exchange for getting the 10-year naming right of the California Memorial Stadium.

Last December, Crypto.com, announced that it has partnered with Los Angeles’ Angel City Football Club (ACFC) for exclusive rights to issue official cryptocurrencies and NFTs.

Several months ago, Crypto.com signed a 20-year cooperation deal worth $700 million with Anschutz Entertainment Group (AEG), which owns the Staples Center and the L.A. Live.

On the other hand, Binance, the world’s largest exchange, criticized Monday its peers for running Super Bowl ads and hiring celebrities to promote cryptocurrencies.

“I think it’s great that the industry is taking over the Super Bowl,” Changpeng Zhao, founder and CEO of Binance, adding that he hopes to educate the public about the risks of cryptocurrencies.

NBA's LeBron James Becomes Face of Crypto.com

To get more limelight during the annual playoff championship game of the National Football League (NFL) called the Super Bowl, Crypto.com chose the NBA’s four-time most valuable player (MVP) LeBron James as its new catalyst for mainstream adoption.

LeBron James could also end up being one of the shareholders of Crypto.com, a Singapore-based crypto exchange platform.

This move is seen as a game-changer because his influence and notoriety go beyond the sphere of basketball and sports. As a result, accelerating global crypto adoption.

Lebron James is among the “greatest of all time” because he is the only player in National Basketball Association (NBA) history to rank top 100 in assists, points, rebounds, blocks, three-pointers, and steals. He has also won the NBA championships three times.

To expand people’s knowledge base about emerging technologies, Crypto.com announced a strategic partnership with LeBron James and LeBron James Family Foundation (LJFF) to enhance education and workforce development initiatives on Web3.0 to underserved individuals last month.

The partnership was meant to give students and families connected to the I PROMISE program access to the tools and educational resources needed to participate and succeed in building Web3, the future of the internet.

Therefore, the latest development cements the growing relationship between the two parties.

With American actor Matt Damon being one of the company’s present ambassadors, Crypto.com could end up having two global superstars.

The crypto exchange has been making notable strides to have a worldwide presence. For instance, in a $700 million deal, the firm agreed with AEG to have Staples Center, the official home of NBA’s Los Angeles Lakers, renamed to Crypto.com Arena in November 2021.

Last month, Crypto.com signed a five-year partnership agreement with the Australian Football League (AFL) worth $25 million.

Coinbase Traffic Hits Historic Highs Following Super Bowl Ad, Jumping to Top 2 on App Store

Following a minute-long ad worth $14 million meant for the Super Bowl, US-based crypto exchange Coinbase raked in the dividends because traffic reached historic highs.

Reportedly, the traffic was overwhelming, resulting in the Coinbase app surging to the second spot from the 186th position on the Apple store, according to Block Research.

The Block added:

“Crypto apps shot up App Store download charts in the US on Monday morning, after a Super Bowl studded with digital assets advertising. Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams also saw two of the biggest crypto exchanges, FTX and Coinbase, compete for eye-balls.”

Surojit Chatterjee, the Chief Product Officer at Coinbase, took to Twitter and confirmed the company’s significant traffic witnessed following the advertisement. He stated:

“Coinbase just saw more traffic than we’ve ever encountered, but our teams pulled together and only had to throttle traffic for a few minutes. Humbled to have been witness to this.”

He added that the Coinbase landing page also went haywire.

“We had over 20M hits on our landing page in one minute. That was historic and unprecedented. We also saw engagement that was 6 times higher than our previous benchmarks.”

The Super Bowl is usually a battle of the titans, given that it’s the annual playoff championship game of the National Football League (NFL).

Therefore, it’s a famous game on American soil and beyond, making companies splash significant amounts to get notable airplay.

For instance, Singapore-based crypto exchange platform Crypto.com selected NBA’s four-time most valuable player (MVP), LeBron James, as its new weapon for mainstream adoption during the Super Bowl.

This move was seen as a stepping stone towards crypto adoption because his influence and reputation go beyond the sphere of basketball and sports.