Crypto.com Purchases Super Bowl Commercial
According to the Wall Street Journal, Crypto.com recently bought a spot for a Super Bowl commercial. The report noted that Super Bowl advertisements cost over $5 million for 30 seconds, with some sponsors seeking as much as $6.5 million for the same air time in the game.
Crypto.com has been making moves to make itself visible in the sports industry. Back in September, the platform inked a sponsorship deal with the American professional basketball team, the Philadelphia 79ers, to have its name and logo crested on the team’s jerseys.
In November, the Singapore-based exchange bought the naming rights to The Staples Center, home of the Los Angeles Lakers, for $700 million. The deal, which will last for 20 years, will see the Staples Center renamed as Crypto.com Arena on December 25.
Other sports collaborations with Crypto.com include the ice hockey team Montreal Canadiens and car racing league Formula 1. Recently, the platform announced that it would sponsor the Angel City Football Club, a women’s soccer team based in Los Angeles.
The exchange’s chief marketing officer, Steven Kalifowitz, in a statement said:
“Crypto genuinely is for everybody…Going into different sports just allows me to reach everybody where they are. Super Bowl is just one more step into that, where it’s as mass as you get.”
“There’s a lot of people saying crypto is a fad, just the way they said the internet was a fad. Crypto is really the basis of the next version of the internet.”
Meanwhile, Kris Marszalek, the CEO of Crypto.com, revealed to the WSJ that the firm’s executives wanted the exchange to become one of the top 20 consumer companies within five years. This would place the crypto exchange among the likes of tech giant Apple, and the multinational sports footwear manufacturer, Nike.
FTX Also Expanding Presence in the Sports Industry
Apart from Crypto.com, another cryptocurrency exchange, FTX, will also be advertising for the first time at the Super Bowl. Like Crypto.com, FTX has also been penetrating the sports sector.
In March, FTX won naming rights to the National Basketball Association’s (NBA) Miami Heat Stadium, in a deal worth $135 million, renaming the home court from Miami Heat to FTX Arena. Also, the exchange signed a global partnership deal to become the official crypto exchange of Major League Baseball (MLB) and struck an umpire jersey deal with MLB.
Another sponsorship deal was entered with Mercedes-AMG Petronas, a Formula 1 racing team. The deal will cause the FTX logo to be displayed on the team drivers and cars. Earlier in December, the crypto exchange struck an international rights sponsorship deal with NBA’s Golden State Warriors, reportedly valued at $10 million.