FTX Proves Its Crypto Power By Teaming Up With Super Bowl
The next championship game in the National Football League (NFL) will be played between the National Football Conference Champion Los Angeles Rams and the American Football Conference Champion Cincinnati Bengals.
This will occur between 8:30 p.m. and 10:30 p.m. Eastern Time ('ET'), the exchange stated, adding that the promotional time will conclude at 11:59 p.m. ET. There will be 'four grand prizes,' the exchange stated, explaining:
“Each winner will receive bitcoin deposited into their FTX account. The amount of bitcoin to be deposited will be equal to the ET time (hour and minute) that sponsor’s February 13, 2022 television commercial begins to be aired on NBC.”
FTX Aims to Ease Regulations
In an interview with the Washington Post, CEO Sam Bankman-Fried indicated that the commercials are more aimed at persuading US officials to relax their laws on the technology than at convincing consumers to download the app. Licenses for Bitcoin derivatives exchanges, which FTX operates in other countries, are currently prohibited in the United States. FTX US, the brand's American subsidiary, is only licensed as a cryptocurrency exchange. Bankman-Fried said:
“We want to make sure that we’re painting, hopefully, a healthy image of ourselves and the industry. We’re optimistic that we’re going to be able to grow our US business — a lot of that is working with U.S. regulators on bringing new products to the market.”
The reward will be divided among four people, each of whom will need to create an FTX.US account to claim it; however, you do not need an account to enter. The winners will be notified by direct message on Twitter.
FTX.US collaborated with Tom Brady, a seven-time Super Bowl champion, and his wife, Brazilian supermodel Gisele Bündchen, in June. In the same month, the exchange became the official sponsor of Major League Baseball. It agreed to rename the Miami Heat's home stadium FTX Arena until 2040 in March, before presenting every fan in one area of FTX Arena $500 in cryptocurrency at the Miami Heat's season opener game.
FTX.US collaborated with Tom Brady, a seven-time Super Bowl champion, and his wife, Brazilian supermodel Gisele Bündchen, in June. In the same month, the exchange became the official sponsor of Major League Baseball. It agreed to rename the Miami Heat's home stadium FTX Arena until 2040 in March, before presenting every fan in one area of FTX Arena $500 in cryptocurrency at the Miami Heat's season opener game.
Crypto and Sports
FTX is pursuing a sports relationship because its supporters are also crypto fanatics, according to its CEO, who is a baseball lover. Last October, the crypto company revealed that it has signed long-term crypto partnerships with major racing, basketball, and baseball teams. FTX then formed relationships with collegiate cage teams, such as the men's basketball team at the University of Kentucky. FTX reached out to specific athletes including Tom Brady, Stephen Curry, and David Ortiz, a Red Sox superstar and recent Hall of Fame inductee. Bankman-Fried said in an interview:
“Sports fans are two times more likely to know about crypto than non-sports fans. Avid sports fans are nearly 3x as likely.”
With 28 of the top 30 broadcasts in American television history, the Super Bowl is consistently the highest-rated television program of the year. Bankman-Fried has favored football as part of a marketing strategy that promotes sports as the fastest-growing consumer base for cryptocurrency adoption.