The crypto world continues to march into the mainstream. Four cryptocurrency exchanges reportedly are airing ads during the Super Bowl on Sunday.
The list includes U.S. exchanges Coinbase Global (COIN) , the biggest in the country; FTX; and Crypto.com, The Wall Street Journal reports. A knowledgeable source provided the Coinbase news. An ad from Canadian exchange Bitbuy will appear on the game’s broadcast in that country, The Journal said.
The ads don’t come cheap: up to $7 million for 30 seconds. “It’s a way to get our name out there,” FTX Founder Sam Bankman-Fried told The Journal. “In terms of venues to do that, it’s hard to find a higher-profile one than this.”
Coinbase Global clearly has the money, registering a $2.8 billion profit in the past nine months. And the others may be loaded up with venture capital funding.
The Super Bowl, broadcast on NBC, (CMCSA) will feature more than 30 advertisements from companies that have never bought an ad during the big game before, for a total of “40% of all advertisers -- in 12 different categories, the strongest being automotive, technology and travel,” according to Adweek.
Perhaps the spot that’s getting the most social media buzz: Booking.com (BKNG) will make its Super Bowl debut with an ad featuring the internet’s boyfriend, Idris Elba, getting advice from commercial legends Jonathan Goldsmith of The Most Interesting Man in the World ads, and Old Spice pitchman Isaiah Mustafa.
Other first timers include Japanese online retailer Rakuten.com (RKUNY) , Colgate-Palmolive’s (CL) Irish Spring and Walmart’s (WMT) Sam’s Club with a Kevin Hart ad.
