The Super Bowl 56 will be in Los Angeles at the Crypto Bowl.
The Bengals and Rams will face off in Super Bowl LVI, marking the first time these two teams have met in a championship game.
Binance’s Butler video was a reference to the fact that some of its major competitors had spent a lot of money to get ad slots for the next Super Bowl on Feb. 13—dubbed the ‘Crypto Bowl’ .
Many ads movies from Binance, the world’s largest cryptocurrency exchange, will be used as advertisements. According to Bloomberg estimations, Binance’s Chinese-Canadian CEO Changpeng Zhao is now the world’s wealthiest crypto billionaire, ranking No. 15 on the list of the world’s wealthiest persons with a net worth of $73.4 billion—before that’s counting his crypto currency.
Binance’s Butler video was a reference to the fact that some of its major competitors had spent a lot of money to get ad slots for the next Super Bowl on Feb. 13—dubbed the ‘Crypto Bowl’ by some.
FTX, based in the Bahamas, and Crypto.com, based in Hong Kong and Singapore, are likely to have paid millions for 30-second commercials during the forthcoming championship game, according to CoinGecko. In addition, Bitbuy joined with Miami Heat player Kyle Lowry for a Super Bowl advertisement, marking the first time a Canadian crypto firm has collaborated with a professional athlete.
A request for comment from the exchanges that purchased Super Bowl ads was not immediately returned.
NBC has sold all of its advertisement time for the 2019 Super Bowl, with 30-second spots costing as high as $7 million, a 27 percent increase over last year. This year’s marketers are made up of 43% new businesses.
According to Dave Sutton, CEO of marketing firm TopRight, the “Super Bowl moment has a certain value that just doesn’t exist elsewhere.” A Super Bowl ad might provide an excellent return on investment (ROI) for newer companies like cryptocurrency exchanges, which are less established and usually perceived as riskier, according to marketing experts.
According to John Antil, an associate professor of marketing at the University of Delaware who specializes in Super Bowl advertising, the Super Bowl is possibly the “greatest platform” for smaller, lesser-known firms to build recognition. Crypto enterprises, like other brands, must raise consumer awareness, engage them, and earn their trust. However, because the general public perceives cryptocurrency investments as risky, the latter is especially important—and appearing in a well-known and expensive event like the Super Bowl cultivates legitimacy and trust, according to Andrew Simon, global creative lead and chief creative officer at public relations and marketing firm Edelman Canada.
According to Simon, the Super Bowl’s viewer reach is massive, with one commercial during the championship generating rapid exposure. The “big game is a high risk [and] high reward competition for businesses… [to] earn the most audience attention in the shortest amount of time,” according to Sutton, with the potential to reach over 100 million viewers.
Still, according to marketing expert Antil, there is “significant dispute” about whether Super Bowl commercials are worth the money. “No one has yet devised a method for calculating the return on investment (ROI) of a Super Bowl commercial. Converting most of the information received from the broadcast to a monetary value is quite difficult “he stated This year’s Super Bowl advertising will feature at least five or six crypto firms. He warned that the ‘Crypto Bowl’ could end up being just like the Dot-Com Super Bowl of 2000. Antil claims that “most dot-com companies in the [2000] broadcast didn’t last till the next year.”
Some speculate that Binance’s self-produced Twitter ad will give it an advantage over its competition. According to Sutton, Binance is allowing its competitors pay for primetime advertising to raise mainstream crypto awareness while conserving its own marketing expenditures to promote its own brand story. According to Simon, this “counter-programming method” is brilliant if well-executed. He claims that the conversation is portraying itself as “the offering from the investor’s point of view. It’s a clever strategy to stand out both before and after the big game.”
Binance has avoided splashy sponsorship partnerships with professional sports teams, leagues, and stars, unlike its primary competitors. FTX and Crypto.com have garnered headlines in recent months for their arena naming rights deals and partnerships with professional sportsmen such as LeBron James and Tom Brady.
These crypto firms are going “head-to-head” during the Super Bowl, according to a Binance representative, “recruiting famous celebs to seduce viewers… without teaching them on crypto [fundamentals].” The company’s Jimmy Butler commercial is just the beginning of a social campaign, which will go off on February 7 and involve an unnamed musician and athlete, and will ironically tell consumers: “When it comes to your financial freedom, don’t listen to celebrities. Learn cryptography and have faith in yourself.”
The 56th Super Bowl is the only sporting event of the year that offers something for everyone, including sports, entertainment, and food lovers of all levels and interests.
