FTX and Crypto.com will show ads during a football game
Attracting new customers is simple while prices are surging, but it is far more challenging when tokens like Bitcoin and Ethereum have lost momentum, falling 35% from their all-time highs.
This is a test period for cryptocurrency exchanges that will appear in Super Bowl commercials.
Several 30-second commercials have already been sold
However, FTX Trading Ltd. and Crypto.com will air advertising during the Los Angeles Rams vs. Cincinnati Bengals game on Sunday, which is estimated to draw more than 100 million people.
Super Bowl commercials have the potential to catapult a brand into mainstream consciousness, assisting exchanges in accelerating cryptocurrency adoption after a painful downturn that has left even the most ardent supporters wary of a potential bear market and a post-launch influx of new users to help support the growth of volume-driven platforms.
That’s undoubtedly one of the reasons they’re prepared to pay a lot of money for this year’s 30-second spot, which may be worth up to $7 million. Companies are no strangers to hefty ad prices. Therefore, at the start of 2020, at least $112.9 million was spent on national cryptocurrency advertising, following iSport.tv.
Worries about the extreme volatility of cryptocurrencies are unlikely to make it into Sunday’s commercials, which are expected to be more uplifting and humorous overall than last year’s pandemic subjects. Teasers for FTX’s ad starring historical characters have been released, and Crypto.com is planning an unexpected revelation.