Pro Sports and Crypto partnerships continue to be an indicator of longterm growth even in volatile market conditions.
As the market has continued to bounce up and down, one important narrative in the short term to look at is Crypto.com, Binance, FTX and other Crypto companies have laid out the most capital investment ever for crypto-ad spaces in this weekends Super Bowl; leading some to call the event The CryptoBowl.
Many are comparing this to the Dot-Com Super Bowl of the year 2000 which saw an influx of tech companies using the widely-watched sports spectacle as a way to get valuable marketing exposure.
This year, 30 second ad spots are going for up to $7 million, not including production costs and ambassador fees.
FTX Trading is incorporating a large Bitcoin give-away as part of their ad campaign. The number of Bitcoin will be determined by the time that the ad is aired, and distributed amongst 4 lucky winners.
Crypto.com is looking to make a splash after snatching up the naming rights for the LA Laker’s Staple Center this past year.
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.CMO Steven Kalifowitz
Binance is running an ad campaign with NBA star Jimmy Butler, specifically cautioning potential investors about putting too much faith in other crypto companies running ads during the Super Bowl.
It is highly possible, that even in this volatile market, we could see a continued uptrend as these companies are betting, and spending, big to get more retail liquidity into their respective platforms and projects. With about 40% of the Super Bowl audience falling in 18-49 age range, that provides a large number of a key demographic group for crypto.
Not all hold this sentiment, however. Pointing out that Super Bowl ad space is highly competitive, including beer and car companies (that have fared historically well), there is concern that gaining mass crypto participation in a very noisy space could be a tough act to pull off.
I don’t think the cryptos will be a staple of the Super Bowl — I don’t know how often we’ll see them again, the dot-coms went away, and the auto [advertisers] stayed.Robert Kolt, professor of practice at Michigan State University with focuses on advertising and marketing.
As all eyes will be on the Big Game and ads this weekend, there will inevitably be many crypto fanatics checking charts and the market as the much-awaited crypto-ads drop to one of the largest audiences that will convene for the calendar year.