Crypto exchange platforms Crypto.com and FTX are reportedly having plans down their pipelines to carry out promotion commercials at Super Bowl LVI. 

Specifically, Super Bowl advertisements have reportedly managed to gather a reputation of a promoting channel with a majorly high price, with rates surging over $5 million for a 30-second commercial. A few sponsors will not hesitate to pay up to a record high of $6.5 million for the similar air time.

Both Crypto.com and FTX are reportedly putting in extensive efforts to establish their brands, as well as setting up their presence throughout the US market. 

Recently, Crypto.com reportedly disclosed details related to an alliance formed with Angel City Football Club – a football club that is expected to participate in the 2022 season. Moreover, the crypto exchange also successfully obtained the naming rights to the Los Angeles-based Staples Center, via a $700 million agreement lasting for 20 years, turning the stadium into the Crypto.com Arena this December.

Crypto.com co-founder and Head Kris Marszalek further remarked that the firm is utilizing its platform “in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment, and technology.”

Meanwhile, FTX reportedly also channeled a significant portion of its advertising budget towards reinforcing US-based brand recognition. In October, the exchange confirmed its initiative to run a promotion in the upcoming Super Bowl. The exchange also got Tom Brady and Gisele Bündchen to star in a $20-million ad campaign.

In early 2021, FTX was also successful in obtaining the naming rights to a stadium in America, via entering a 19-year contract to rename the Miami Heat’s home arena into the FTX Arena. Last year, blockchain made its presence at the Super Bowl via non-fungible tokens (NFT).