America’s largest crypto exchanges are reportedly set to run ads during this year’s Super Bowl, according to the Wall Street Journal.
Coinbase, Crypto.com, and FTX are among the several cryptocurrency companies looking to run ads during one of America’s biggest showpiece sporting events of the year. Last year’s Super Bowl attracted an estimated 91.6 million views on TV.
The news comes as the latest example of the brand power associated with crypto companies in recent times.
At an estimated $7 million, the price of a 30-second ad spot on NBC for next Sunday’s Super Bowl has gone up by more than $1.6 million compared to the average cost over the last four years.
This significant jump in ad rates seems to have done little to deter America’s biggest crypto exchanges from showcasing their businesses during Sunday’s gridiron showpiece.
The likes of FTX and Crypto.com have previously made headlines for hefty sponsorship deals. In November, Crypto.com spent $700 million in cash to rename the Staples Center in Los Angeles to the Crypto.com Arena.
Most of the deals have been in the sporting arena with these companies splashing the cash to ink deals with athletes and organizations across football, baseball, Formula 1, and cricket among others.
These crypto exchanges also continue to attract significant investor attention. FTX recently attained a $32 billion valuation on the back of a $400 million Series C funding round.