Sam Bankman-Fried’s cryptocurrency exchange FTX announced that it will be giving away free Bitcoin to its fans as part of an advertising campaign during Super Bowl LVI on February 13.
The campaign is part of an effort by FTX to gain a more significant brand presence with the broader audience of sports fans, especially considering that the Super Bowl is the most-watched sporting event in the United States.
The perfect time
Sam Bankman-Fried is an expert in aggressive and creative marketing tactics, and this campaign is no exception. It’s not your typical giveaway and instead is basically based on luck and timing.
Nobody knows how much money FTX will donate, and therein lies the creative part of the campaign. The exchange explained that the exact amount of Bitcoins that will be given away will depend on when its ad appears on the television screens of those watching the Super Bowl.
“We are making our Big Game debut and giving away the time our ad runs in bitcoin… For example, if it runs at 9:02 EST, we would give away 9.02 BTC.”
A total of 4 winners will be chosen, and the campaign is open to all US residents (all 50 states excluding New York) who have followed the official FTX account and retweeted FTX’s tweet about the event between the time it airs and 11:59 p.m. EST.
Sports marketing works for FTX
FTX has grown at a rapid rate, gaining popularity among many cryptocurrency enthusiasts. The winning recipe is based on a combination of product diversification, good technology… and sport.
FTX was the first cryptocurrency exchange to buy an ad for the Super Bowl. As Cryptopotato previously reported, the Sam Bankman-Fried exchange may have paid out around $6.5 million.
Shortly after, Crypto.com joined the race by purchasing another ad space, bolstering its presence in the US market.
In addition to the NFL, FTX has gained a massive presence in the NBA, the US professional basketball league, after purchasing the naming rights to the former American Airlines Arena, home of the Miami Heats, and changing its name to FTX Arena.
And the exchange also has a presence in MLB — the US professional baseball league — after becoming the league’s cryptocurrency exchange partner. This particular partnership has been so successful that the exchange is now looking to expand further, leveraging its presence in the esports business. In an interview for the Sports Buisness Journal, Brett Harrison, who runs the US branch of FTX, explained that the exchange is now trying to go beyond just brand recognition with its sports deals:
“We are being told that the amount of exposure we are receiving through referees is unprecedented. We’re past our initial brand-only offerings…whether it’s a direct path to revenue or some shared creative revenue, we need to see unique ideas and unique creative. People need to realize that we are a technology provider, a payment provider.”
All things considered, it’s easy to see how FTX is carving its own paths into the mainstream market, so it’s highly likely that the exchange will come up with a similar idea in the future. Too bad they used the 12-hour clock instead of the 24-hour one; giving away 20BTC at 8pm seems much nicer than giving away 8BTC at 8pm.
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