Following a minute-long ad worth$14 million meant for the Super Bowl, US-based crypto exchange Coinbase raked in the dividends because traffic reached historic highs.
Reportedly, the traffic was overwhelming, resulting in the Coinbase app surging to the second spot from the 186th position on the Apple store, accordingto Block Research.
The Block added:
“Crypto apps shot up App Store download charts in the US on Monday morning, after a Super Bowl studded with digital assets advertising. Super Bowl LVI’s face-off between the Cincinnati Bengals and Los Angeles Rams also saw two of the biggest crypto exchanges, FTX and Coinbase, compete for eye-balls.”
Surojit Chatterjee, the Chief Product Officer at Coinbase, took to Twitter and confirmed the company’s significant traffic witnessed following the advertisement. He stated:
“Coinbase just saw more traffic than we’ve ever encountered, but our teams pulled together and only had to throttle traffic for a few minutes. Humbled to have been witness to this.”
He added that the Coinbase landing page also went haywire.
“We had over 20M hits on our landing page in one minute. That was historic and unprecedented. We also saw engagement that was 6 times higher than our previous benchmarks.”
The Super Bowl is usually a battle of the titans, given that it’s the annual playoff championship game of the National Football League (NFL).
Therefore, it’s a famous game on American soil and beyond, making companies splash significant amounts to get notable airplay.
For instance, Singapore-based crypto exchange platform Crypto.com selected NBA’s four-time most valuable player (MVP), LeBron James, as its new weapon for mainstream adoption during the Super Bowl.
This move was seen as a stepping stone towards crypto adoption because his influence and reputation go beyond the sphere of basketball and sports.
Cryptocurrency exchange FTX.US will be giving away free Bitcoin as part of its upcoming advertising campaign at the Feb. 13 Super Bowl LVI.
However, the amount of Bitcoin given away has yet to be determined because it will depend on what time the ad runs on the East Coast.
For example, if the ad runs at 8:50 PM, the Bahamian-based exchange will give away 8.50 BTC ($374,000 at current prices). But if the ad is aired later in the game — at 11 PM for example — the giveaway will increase to 11 BTC (around $484,000 at the moment).
The airtime slot for the ad is scheduled in the game’s second half, which is slated to start at 8 PM ET (1:00 AM UTC, Feb 14), an hour and a half after initially kicking off.
We’re giving some #bitcoin away!
How much? $1 million worth?! $1.5 million worth?!!?! We don’t actually know yet.
The later our Big Game ad airs, the more #bitcoin you can win. See you Sunday! #FTXcontest
No purchase necessary. Subject to T&C: https://t.co/L7o8Jz25TT pic.twitter.com/mfA0q2FIFG
— FTX – Built By Traders, For Traders (@FTX_Official) February 7, 2022
The prize will be split between four people, who will need to open FTX.US accounts to claim their prize, however, you don’t need an account to enter. The winners will be contacted via Twitter direct message.
Anyone who follows the company’s Twitter account and retweets the pinned tweet of its commercial between the time the ad airs and 11:59 PM EST is eligible to win. Participants must also be legal residents of the U.S., although New Yorkers are excluded.
The upcoming Superbowl ad campaign comes as FTX CEO and Founder Sam Bankman-Fried continues to target sports as the fastest-growing customer base for crypto adoption.
FTX first announced its purchase of the Superbowl ad time slot in October 2021, wanting to reach a wider audience. The Superbowl has an estimated TV audience of 92 million viewers.
At the time, Bankman-Fried said, “there is no bigger, more mainstream event to share a message like that than the Super Bowl.”
Related:FTX launching NFT sports platform, backs LCS esports league with 7-year deal
In June, FTX.US partnered with seven-time Super Bowl champion Tom Brady and his wife, Brazilian supermodel Gisele Bündchen. The exchange also became the official sponsor of Major League Baseball in the same month.
In March, it arranged to name the Miami Heat’s home stadium the FTX Arena until 2040, before gifting every spectator in one section of FTX Arena $500 in crypto at the Miami Heat season opener game.
Cryptocurrencies may dominate this Super Bowl ad, emerging as the winner. Coinbase Global Inc., the largest U.S. exchange, as well as exchanges FTX and Crypto.com will all be involved, according to a person familiar with the matter. Canadian exchange Bitbuy had an advertisement during the Canadian broadcast.
A 30-second ad on NBC run of past Super Bowl commercials could cost as much as $7 million. Advertising in the Super Bowl is a money-spinner business.
“It’s a way to get our name out there,” said FTX founder Sam Bankman-Fried. “In terms of venues to do that, it’s hard to find a higher-profile one than this
According to sponsorship consultancy IEG, the crypto industry has surpassed airlines, fast food restaurants, and wine and spirits companies as the industry that sponsors the most sports.
In the sports arena, two exchanges, FTX and Crypto.com, have been particularly aggressive.
On December 15, FTX Derivatives Exchange inkeda global sponsorship deal with professional NBA basketball team Golden State Warriors, a move that will provide FTX brand presence throughout the team’s stadium known as the ‘Chase Center’.
Earlier as reportedby Blockchain.News on August 24, The American cryptocurrency exchange giant FTX sponsors the University of California, Berkeley (UCB) with $17.5 million in cryptocurrency in exchange for getting the 10-year naming right of the California Memorial Stadium.
Last December, Crypto.com, announcedthat it has partnered with Los Angeles’ Angel City Football Club (ACFC) for exclusive rights to issue official cryptocurrencies and NFTs.
Several months ago, Crypto.com signeda 20-year cooperation deal worth $700 million with Anschutz Entertainment Group (AEG), which owns the Staples Center and the L.A. Live.
On the other hand, Binance, the world’s largest exchange, criticized Monday its peers for running Super Bowl ads and hiring celebrities to promote cryptocurrencies.
“I think it’s great that the industry is taking over the Super Bowl,” Changpeng Zhao, founder and CEO of Binance, adding that he hopes to educate the public about the risks of cryptocurrencies.
Las Vegas-based glass pipe maker to the stars Jerome Baker Designs will launch a series of bong-related NFTs tied to corresponding physical assets early next month.
The NFTs, on FDCTech’s Ethereum-based platform, depict the unique glassblowing process for each bong and come with additional unique benefits. They are due to drop on Super Bowl Sunday (Feb. 13) and the corresponding physical bongs will be auctioned off at Superchief Gallery.
Jerome Baker Designs Founder and President Jason Harris is considered to be one of the top ten glassblowers in the world, according to smoking products marketplace SLX.
He founded the business in the early 1990s and has built custom-made pieces for celebrities such as Snoop Dogg, George Clooney, Grateful Dead, Santana and Rita Marley.
He told Cointelegraph he is excited to step into the world of crypto-driven digital art.
“As an artist, we need a certificate of authenticity to connect to the art. NFTs act as a certificate of authenticity and create value and legacy.”
According to Harris, while other forms of art like sculptures can be bronzed and paintings replicated or copied, glassblowing is a one-time effort that cannot be replicated.
“You will have a documented experience of the creation of that artwork and in that lay the magic. It’s like buying a pair of Jordans. If you ever want to sell them, you might need the packaging in perfect condition. The NFT acts as a certificate of authentication and the artwork acts as the package.”
Harris said the five bong NFTs to launch on Super Bowl Sunday will be in line with his Burnt Orange collection, a collection of translucent bright orange glass bongs.
Those who own a bong NFT will receive real world benefits such as glassblowing classes and a visit to the Las Vegas Dream Factory (Jerome Baker Designs Headquarters).
Related:PayPal reportedly confirms plans to explore the launch of a stablecoin
This is not Jerome Baker Designs first foray into blockchain and the studio has been accepting Bitcoin since 2012. Harris believes that the global population will soon jump on the bandwagon and accept the crypto asset for payments. The company plans on accepting Ethereum payments shortly.
Today, Bloomberg reported that bitcoin exchange giant FTX purchased an ad slot for the upcoming Super Bowl LVI on February 13, 2022, at SoFi Stadium in Inglewood, California. The exchange did not provide a comment on how much the ad was purchased for or what the content will consist of.
“We’re inviting everyone to check it out, and here to help them on their journey. There is no bigger, more mainstream event to share a message like that than the Super Bowl,” Bankman-Fried said. “Our message throughout this year has been that crypto is safe, accessible, and ready for the mainstream.”
The Super Bowl is one of the most viewed sporting events there is, with just over 96 million viewers watching the latest Super Bowl LV. This is the main reason behind FTX purchasing this ad, to take advantage of all the eyes that will be watching. NFL legend Tom Brady has already expressed his interest in the exchange, purchasing an equity stake in the company earlier this year.
FTX seems to be trying to cover all bases in sports after partnering with NBA legend Steph Curry as well as buying the rights to the Miami Heat’s home court and renaming it the FTX Arena. They have also become the official exchange of Major League Baseball (MLB).
Earlier this year, FTX raised $900 million series B fundraise to become the largest raise by any exchange in history.
The crypto bug is seemingly proving to be having a big bite on the sports industry as Tom Brady joins other sports celebrities pursuing a dream in the blockchain sector.
The quarterback of the Super Bowl champs – Tampa Bay – had for weeks indicated his enthusiasm, through several tweets about crypto before declaring his intention now to be a “pioneer” in the industry.
The Super Bowl GOAT had for a few days back told the media that he’s a “big believer” in cryptocurrencies. Also, he further disclosed he had acquired some digital coins, which he declined to reveal when asked which ones specifically.
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Sports Personalities Delving Into Cryptocurrency Sector
The announcement has made this sports personality the latest entrant into the crypto-world.
This development is coming a few days after a prominent and controversial former batsman from England – Kevin Petersen – affirmed that he’s “getting closer & closer to joining the #bitcoin world.”
Related Reading | Top English Cricketer Kevin Pietersen Acknowledges Bitcoin (BTC)
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Similarly, one Shoaib Akhtar, an ex-Pakistani cricketer, had before then launched the world’s first cricket-centric NFT marketplace about two weeks ago.
The FTX Company
Following his latest crypto activities, Tom Brady has been appointed a brand ambassador for FTX. The FTX is a US-regulated cryptocurrency exchange built from the ground up.
It is a company bent on growing the digital currency ecosystem, offering the US and international traders a platform that inspires their loyalty, and becoming the market-leading US-regulated cryptocurrency exchange.
Tom Brady Met Sam Bankman-Fried
Today, during a Q&A on Twitter that the company mainly organized to promote his new role as their brand ambassador, the experienced quarterback talked with pomp over his latest partnership with the crypto exchange. But unfortunately, he also dismissively belittled the threat of the recent market doldrums.
Related Reading | Blockchain Caucus Co-Chair: Government Needs The Ability To Reverse Transactions
On being asked by his host Sam Bankman-Fried, about what exactly his recent exodus of tweets on Twitter were driving at, “I want to be a pioneer in this field,” Brady revealed.
Host Sam Bankman-Fried is the founder and CEO of the US-based digital currency company.
What Attracted Brady?
In the half-hour-long dialogue with the CEO, Brady assessed his current adventure into the blockchain industry. He equally revealed why he had chosen the FTX over others.
He revealed a “charitable mission” adoption, given the rapidly growing crypto exchange.
Indeed, a fact check shows the US-regulated exchange has obliged to donate 1% of all “net fees” to charity and has thus far put up $10 million from the pledge.
“I got a call from a guy I work with who has a lot of great knowledge about this space. He said, “I think this would be something you would be interested in.” Brady, talking about how he was intrigued to start digging into the company.
The results were his investment into the company and the ensuing ambassadorial reward, he said.
Brady, however, never ceased to give more significant credit on FTX’s charitable project, which he said endeared the company to him the most.
Tom Brady Excited To Partner With’ Charitable’ FTX
“I’m excited about the endless possibilities that we have to create things together,” Brady said, as he revealed how exciting it is for him to partner with FTX in giving back to the communities, the planet, and spreading the crypto knowledge.
Stoked to partner with @SBF_Alameda and @FTX_Official as we continue building the future of crypto. I hear we’re headed to the moon? pic.twitter.com/BdReBkNfxg
— Tom Brady (@TomBrady) June 29, 2021
The 43-year-old super bowl’s “greatest of all time” revealed his new role at FTX is inclusive of his wife.
He explained she would be working primarily on the charitable part of the partnership. She will help determine which charities to fund with the money the FTX continues to raise, Brady revealed to Sam Bankman-Fried.
Undoubtedly, the cryptocurrency sector is appealing and it’s gaining traction at an impressive pace. As the most renowned sports personalities show interest in Bitcoin and other digital assets, the prices are expected to skyrocket in the near term.
Featured image from Tom Brady's Twitter, Charts from TradingView.com
Some people hold bitcoin because it is sound money. Some buy it because they want to speculate. But there is an old connection between investors and bitcoin that you might have forgotten.
One of the biggest sports, entertainment and betting events of the year is always the Super Bowl. Some of the first services in the world to accept bitcoin were online sportsbooks and casinos. And with the number of sportsbooks that accept bitcoin, as well as the price of bitcoin itself, rising exponentially since those days, Bitcoin and Super Bowl betting have never been more closely tied.
That’s why this year, for Super Bowl LV, it’s worth remembering an old connection between football and Bitcoin that you may have forgotten, to think about why bitcoin makes sense for gambling online and to evaluate the most interesting bets that you can make on the big game.
The Bitcoin Bowl
This year, the Super Bowl will return to the place of the first and only Bitcoin Bowl. Yes, you read correctly: The Bitcoin Bowl was held in 2014, sponsored by BitPay. It was a college football bowl game that is now known as the Gasparilla Bowl.
Much like the commercialization of soccer cup games, such as the Emirates FA Cup and the Carabao Cup in the U.K., many of the college football bowls have sponsors. Long before the SegWit wars, BitPay sponsored the Bitcoin Bowl to spread the bitcoin gospel and promote “mass adoption.” The event took place at Tropicana Field in St. Petersburg, Florida — just shooting distance away from where this year’s Super Bowl will be held in Tampa. As the price of bitcoin suffered an epic dump at the end of 2014, so did the sponsorship budget of BitPay and just about every other Bitcoin-related company and thus, the Bitcoin Bowl was no more. The HODLers of the first, and maybe last, Bitcoin Bowl championship are the North Carolina State Wolfpack, which defeated the University of Central Florida Knights by a score of 34 to 27.
Americans gamble more than $6 billion on Super Bowls. With sports betting becoming legal in many U.S. states, there are likely more people than ever before who will wager on this game. However, sports betting is still not legal everywhere in the country and the sportsbooks that do operate do not always want to take big bets and may limit the betting of some players.
It stands to reason that offshore sportsbooks (the term for any sportsbook that might take players from particular geographical regions) are probably using bitcoin for withdrawals and deposits at all-time highs. Bitcoin is now the preferred method for many to get funds in and out of most offshore sportsbooks and casinos.
“Last year we had close to $1.5 million in bets across all markets,” Eddie Miroslav, owner of Stake.com, told Bitcoin Magazine. “However our sportsbook product was relatively new. This year, given the recent surge in online betting and the current volume during the playoffs, we’d expect no less than $10 million.”
“We can confirm that (the Super Bowl) is one of the most popular events when it comes to placing orders at Fairlay,” a support representative of the Fairlay bitcoin exchange and prediction market said.
This Time, It’s Different
Not only will the Super Bowl return to the stomping grounds of the Bitcoin Bowl this year, but for the first time ever there will be a home team playing in the game.
The Tampa Bay Buccaneers, led by quarterback Tom Brady (formerly of the New England Patriots), have done the unthinkable and will effectively be the home team in the game (ironically enough during a pandemic when attendance will be limited). But even if this game could be called the Corona Bowl, there will be about a third of the capacity at Raymond James Stadium — still about 22,000 fans. Brady will try to get his seventh Super Bowl ring, while the 25-year-old quarterback of the Kansas City Chiefs, Patrick Mahones, will try to repeat what he accomplished last year and win back-to-back Super Bowls.
What Can You Bet On?
The Super Bowl offers up a long list of things you can bet on. Anything from who wins, the total score of both teams combined, what the first song of the halftime show will be, the result of the coin toss and the length of “The Star-Spangled Banner.” Before the first whistle signals the kickoff, you could have become rich or rekt, depending on your bets.
As of this writing, the favorites to win the game are the Kansas City Chiefs at 1.60 (-170) and the underdogs are the Tampa Bay Buccaneers at 2.50 (+150). What do all those numbers mean? If you bet 1 BTC on the Chiefs to win, you can win 0.6 BTC and have a total of 1.6 BTC if they win. If you bet 1 BTC on the Buccaneers, you can win 1.50 BTC and have a total of 2.50 BTC if they win.
Some other bets for your consideration: What will be said first, “COVID“ or “Pandemic“? What will the temperature at kickoff be? How many times will “Trump” be said? Who will the Super Bowl MVP be? Will any player kneel on the sideline during the anthem? And many other things.
The Super Bowl is a time for everyone to eat junk food, bet on things they normally wouldn’t and have a good time. But this time, it is different. Will we see a rise in the bitcoin price from demand to use it as a medium for betting? Or maybe people will decide the fees are too high and that they should use bitcoin cash to bet with… not.
In any case, let us know what your picks are for Super Bowl LV. If you have any questions about betting on the Super Bowl with bitcoin, hit me up on Twitter or Telegram. And get rekt at your own risk.
This is a guest post by Theo Goodman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.