Crypto companies hope to win mainstream trust in their Super Bowl debut — so do sports-betting apps
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NFTs in the NFL… The LA Rams or the Cincinnati Bengals will become Super Bowl LVI champs when the final whistle blows this Sunday, but Matt Damon’s infamous Crypto.com commercial could steal the show. This Bowl could be known as the “Crypto Bowl” because it’ll be the first to feature crypto ads. Last year, the NFL allowed sports-betting ads during its programming for the first time. The deets:
- Crypto exchanges Coinbase, FTX, and Crypto.com are expected to run Bowl ads, some of which have sold for a record $7M per 30-second slot. Meanwhile, Budweiser’s commercial features NFTs, the metaverse, and Barbra Streisand.
- DraftKings is back for a second year, along with rookies Caesars and FanDuel. A record 31.5M Americans are estimated to bet nearly $8B on this year’s big game.
Super brownie points… The Bowl is the most-watched event in US sports, so it gives fast-growing companies a supersize opportunity to reach new users. Crypto and betting businesses have already been courting sports fans by teaming up with star athletes and sponsoring stadiums:
- Crypto.com paid a reported $700M to sponsor LA’s Crypto.com Arena (FYI: the Super Bowl is in LA’s other crypto arena, SoFi Stadium). Crypto exchange FTX sponsors Miami’s FTX Arena and partners with Tom Brady.
- DraftKings and FanDuel have linked up with the NBA, the NHL, and the MLB on official sports-betting partnerships and streaming rights.
The Super Bowl represents mainstream consumer America… Bowl ads give fledgling brands a chance to win over consumers by putting their products next to trusted brands like Budweiser, Coca-Cola, and Amazon. It doesn't always work: Many dot-com companies that advertised in the 2000 “Startup Bowl” failed. But the Super spotlight could help crypto and betting companies enter the consumer mainstreams. Plus: FTX’s CEO told WaPo that his ads aren’t just meant to win over customers — they’re also meant to court regulators by promoting a “healthy image.”