Coinbase, FTX and Crypto.com All Dishing Out Millions for Super Bowl Ads: Report

Some of the world’s biggest crypto exchanges are paying millions of dollars for TV advertisements during the Super Bowl.

According to a report from The Wall Street Journal, crypto exchanges Coinbase Global, FTX and Crypto.com are buying up ad slots during the NFL’s big finale for top-tier prices. It will be the first time crypto companies have had advertisements in the Super Bowl.

FTX CEO Sam Bankman-Fried said that buying advertisement slots during the Super Bowl was a way to promote the exchange’s name and that it was “hard to find a higher-profile” way of doing so.

FTX said via Twitter that it would be giving out millions of dollars of free Bitcoin as part of its Super Bowl commercial.

According to AdWeek, the crypto exchanges will be shelling out as much as $7 million for each 30-second window of advertisement.

Crypto’s entrance to the US’ biggest sporting and television event comes after a series of large investments from firms within the digital asset industry.

Late last year, FTX inked a deal with the NBA’s San Francisco-based Golden State Warriors to be the team’s official cryptocurrency platform and distributor of non-fungible tokens (NFTs). The crypto exchange also paid $17,500,000 for the naming rights to California Memorial Stadium, and in addition, signed a 19-year partnership agreement worth $135 million which included the renaming of the Miami Heat’s stadium to FTX Arena.

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Featured Image: Shuttestock/Tithi Luadthong