Super Bowl: Will Crypto Ads Move Bitcoin's Price?
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Super Bowl: Will Crypto Ads Move Bitcoin's Price?

3 Minuten
9 months ago

Big brands need to shell out a jaw-dropping $7 million for 30 seconds in the spotlight — with FTX, eToro and Crypto.com among the exchanges planning ads.

Super Bowl: Will Crypto Ads Move Bitcoin's Price?

Inhaltsverzeichnis

The Super Bowl is happening this weekend — and crypto exchanges are taking the opportunity to advertise their platforms in front of millions of people.

FTX.US has announced that it is throwing a Bitcoin giveaway on Sunday — and the later its advert airs, the bigger the prize. (For example, a broadcast time of 9.13pm will mean 9.13 BTC is up for grabs.

The company, which has already spent millions of dollars on sponsorship deals for major arenas, wants entrants to retweet the ad on the night — spreading its message even further.

But Sam Bankman-Fried told Forbes that the campaign's goal isn't just about attracting new users, but grabbing the attention of regulators in the U.S. as well.

Meanwhile, eToro is another crypto-friendly trading platform that has confirmed it'll be running an ad. In a cryptic tweet, it said:

"From Sunday, investing will never be the same."

Crypto.com, which recently took over the naming rights to what was the Staples Center, also has a TV spot in the works.

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Talking Money

Some parallels have been drawn to the Super Bowl in 2000, when 14 dot-com companies paid an average of $2.2 million each to grab the attention of NFL fans.
Fast forward to now, and big brands need to shell out a jaw-dropping $7 million for 30 seconds in the spotlight.

It could be argued that the sheer number of crypto ads may overwhelm viewers tucking into chicken wings and beer for the showdown between the Cincinnati Bengals and Los Angeles Rams.

Crypto's presence in the Super Bowl might not be limited to the ads either, not least because Snoop Dogg — a professed Dogecoin enthusiast who also claims to be the NFT collector Cozomo de' Medici — is performing at the half-time show.

The Super Bowl is the biggest sporting event in America, and what remains to be seen is whether the deluge of adverts will have an impact on the markets.

Research from the University of Minnesota says Super Bowl adverts typically bring a 68% boost in word-of-mouth impressions for ads that run a TV spot — accompanied by a huge spike on online searches. However, previous studies have indicated that this doesn't necessarily translate into a boost in sales.

As exchanges hurriedly put the finishing touches to their star-studded ads, Binance is taking a different approach.

The exchange (which owns CoinMarketCap) has enlisted the help of Miami Heat forward Jimmy Butler ahead of the Super Bowl. In a video posted on Twitter earlier this month, he said:

"On February 13, you're going to hear some of the biggest names telling you to get into crypto. But they don't know you or your finances, only you do. Binance and I are here to tell you: trust yourself, and of course do your own research."

In any case, this is sound advice. Some A-listers have been known to endorse cryptocurrencies with a questionable background — with Kim Kardashian coming in for criticism after posting about Ethereum Max on Instagram.

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