This Sunday, millions of Americans will tune in to watch the Super Bowl – and that means lots of armchair analysis of every play by the Rams and Bengals. However, there’s also a fair likelihood that a keen eye will be talking about the strategies of… other players. Namely, the crypto players. A number of crypto firms have shelled out millions for their ad debut during Super Bowl LVI. The famous 30-second ads are worth $7 million this year.
For instance, FTX, which already has an outsized influence in the sports sphere, will give away thousands of dollars in Bitcoins through a Super Bowl commercial. Four contest winners will split a number of coins depending on when the ad appears in Eastern time. That means, if the ad comes at 10:45 EST, the exchange will give away 10.45 Bitcoin. The exchange has invested $21 million on multiple campaigns, per reports.
Crypto.com has also joined the race – albeit, they’re not presenting a new ad. The company has reportedly spent more than $65 million on an ad campaign starring actor Matt Damon that tells people, “Fortune favors the brave” in a commercial that compares crypto investing to space exploration.
During the match, crypto platform eToro will also air a national commercial. A teaser for the upcoming ad was shared on Twitter with the caption, “Investing will never be the same,” — suggesting that the company has something major to announce. The exchange has invested $25 million in the campaign.
The list doesn’t end here. As reported by the Wall Street Journal, the largest U.S.-based exchange, Coinbase, will also advertise on TV, and Canadian exchange Bitbuy will air the ad during the Canada broadcast.
And here’s the funniest part: Binance has started a campaign to criticize peers who are running Super Bowl ads and hiring celebrities to promote cryptocurrencies. The largest crypto exchange said it would encourage people to educate themselves about crypto. The irony is that Binance’s new ads feature celebrities like Miami Heat’s Jimmy Butler and Colombian singer J Balvin.
The marketers are clearly looking to capitalize on the buzz surrounding cryptocurrency. Moreover, the latest development highlights that the rivalry between the crypto companies has heated up, and they are in so much rush to go mainstream to show themselves to 100 million viewers.