TL; DR Breakdown
- FTX has made sports the target in advertising digital assets to gain customers.
- Bankman-Fried picks out sporting events as sportspeople identify better with crypto.
Crypto Derivatives Exchange FTX has acquired an opportunity to air their ad at the U.S. professional gridiron football Super Bowl game at the beginning of 2022. The company knows that the event that occurs annually will attract a broad audience.
FTX cofounder Sam Bankman-Fried targets the sports industry as part of the firm’s strategy to outdo competitors. The exchange platform that recently moved its H.Q. from Hong Kong to the Bahamas prioritizes being a great brand. They relocated because of their company’s framework. The exchange platform has become a leader in the crypto space and sports industry.
Backed by Almeda Research, the exchange has made partnerships with established sports properties. They include traditional sports teams, arenas, and esports. The crypto company name appears on several sports companies’ attires.
FTX on sporting events
FTX focuses on sports since the industry could portray better services in the future after crypto adoption. The CEO noted that they couldn’t let the tournament bypass them. He was pointing to the most popular event in America.
He said that most people expected them to pursue this path. He teased that the company initially had set out to buy the championship sporting game. However, the game has not adopted cryptocurrency. The firm opted to go with adverts. The company will air its commercials that lean on digital assets during Super Bowl LVI in February. The company is targeting to win a great pool of people.
The price of a short commercial during the live broadcast of the match in 2021 was $5.6million. The advert lasts for about 30 seconds. This figure has increased from $5.2million in 2019. It is expected that the figure will be higher in 2022.
FTX has not revealed the time allocated to its ad nor indicated the money they will part with to air them.
National Football League
The S.B. is a popular event in American football, and it’s among the top-rated events occurring annually. Bankman said they had done their research and believe most sports fans understand crypto more than people not involved in sports.
The NFL is among the most accomplished sports leagues in several nations. American football player Tom Brady and his spouse have stakes in the crypto platform. Additionally, they are both ambassadors for the company.
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