Crypto exchange FTX buys a Super Bowl ad space

Cryptocurrency exchange FTX has grown its presence in the sporting world over the past few months with numerous sponsorships.

FTX, one of the fastest-growing crypto exchanges in the world, has bought an advertisement slot in one of the most-watched sporting events in the United States. The cryptocurrency’s advert will be shown at the championship game of the National Football League, which will take place in February 2022.

Bloomberg reported that FTX bought an ad in this year’s Super Bowl LVI as it seeks to reach a wider audience and promote its cryptocurrency exchange business. FTX has been growing its audience via many avenues, including sports.

Over the past few months, the digital asset exchange has partnered with numerous sporting institutions, including Major League Baseball (MLB). The crypto exchange also bought the rights to the name of the Miami Heat stadium, with the playing ground now known as the FTX Arena.

By acquiring an ad space in the Super Bowl, FTX is taking its sporting reach to another level. The Super Bowl is the top rating TV program in the United States and currently accounts for roughly 28 of the 30 highest rating broadcasts in the country’s TV history.

FTX’s founder and CEO Sam Bankman-Fried say he believes sports is one of the fastest ways to grow the cryptocurrency space and increase adoption. He stated that there is no bigger and more mainstream event to share a message about cryptocurrencies than the Super Bowl.

The cryptocurrency exchange didn’t disclose the contents of the ad or how much it paid for the ad space. However, NBC estimated that the ad space for next year’s Super Bowl is around $6.5 million.

Continuing its rich tradition of partnering with sporting entities and celebrities, Major League Baseball, David Ortiz (popularly known as Big Papi) has become FTX’s latest ambassador. Big Papi, who won three World Series titles with the Boston Red Sox, will be compensated in cryptocurrencies via the FTX app. FTX will also launch numerous NFT collections on his behalf.