Crypto.com Buys a Super Bowl Ad for 2022

Crypto.com Bought a Super Bowl Ad, Contributing his major sports marketing push. That’s two so far: FTX bought a spot in October. Who will buy next?

Crypto.com has bought a Super Bowl ad, the company told The Wall Street Journal today. The cost of an ad is reported to be a whopping $6.5 million for 30 seconds.

It is the final step in the exchange’s sports sponsorship. Last month, Crypto.com reportedly paid $700 million for the naming rights to the Staples Center, home of the NBA’s Los Angeles Lakers. Earlier this year, the exchange also became a sponsor for the Italian football cup tournament final, the Coppa Italia final. As part of the agreement, an NFT collection was created on the occasion.

Crypto.com CEO Kris Marszalek said the company’s top executives want the exchange to become one of the world’s top 20 consumer brands in the next three to five years. This would place it in the group of sports and technology giants such as Nike and Apple.

“By practicing different sports, I can reach everyone. Super Bowl is just another step in that, where it’s as massive as you can get.”

According to Marszalek.

The sports push of the crypto industry

Marszalek’s goal to create a becoming a top consumer brand is very similar to what FTX CEO Sam Bankman-Fried said about the push of his own sports deal. “We are lagging behind in brand awareness”Bankman-Fried said in November.

“In people who want to get involved in crypto for the first time, we saw that they have never heard of FTX.”

FTX spent money to change that, buying its own Super Bowl ad in October.

In April, FTX signed a huge deal with the NBA’s Miami Heat, becoming the franchise’s “official and exclusive” crypto partner. The deal made the home stadium, known as the American Airlines Arena for the past 22 years, the FTX Arena. FTX US also recently made deals with the Golden State Warriors, the Washington Wizards and Capitals. Even MLB umpires wear the crypto exchange logo on their uniforms.

Elsewhere in the NBA, Coinbase has gained some ground for itself. In October, the recently listed exchange signed a sponsorship deal making it the official cryptocurrency partner of the NBA and WNBA. This month, Coinbase also struck a deal with NBA star and Brooklyn Net Kevin Durant.

Crypto.com and FTX probably won’t be the only crypto ads during Super Bowl 56. Will Coinbase be the next to buy a spot?