Crypto Into Sports Market? FTX?
To make a presence for itself in the cryptocurrency market, FTX has been heavily involved in sponsorships with prominent sports teams and events.
Many well-known brands have partnered with this company over the years. Some examples include Tom Brady of the New England Patriots, as well as NBA teams Miami Heat, Washington Wizards, and Golden State Warriors.
What is FTX objective?
As FTX’s CEO, who is also a baseball fan, has stated, the company is looking into a partnership with a sports team because its fans are also crypto enthusiasts.
Cryptocurrency company disclosed in October that it had inked a long-term arrangement with famous sports teams to be their long-term cryptocurrency partner. To further expand its reach, FTX formed partnerships with collegiate cage teams, such as Kentucky’s men’s basketball squad.
Specific athletes like Tom Brady, Stephen Curry, and recently inducted Red Sox legend David Ortiz were contacted by FX.
Recently, FTX joins together with some of the biggest names in sports, like the New York Giants and the New England Patriots. When it comes to US television history, 28 of the top 30 most-watched broadcasts have come from the Super Bowl alone.
In a marketing campaign focusing on sports, Bankman-Fried identified football as the fastest-growing section of the bitcoin adoption market.
Why Superbowl?
The 2008 Summer Olympics in Beijing were the world’s most-watched athletic event, garnering 4.7 billion views, as per the Bleacher Report.
111 million people tuned in to watch the Super Bowl last year, making it the seventh most-watched sporting event of all time. Despite its size, the Super Bowl is clearly the most-watched sports and television event in the United States. Assuming, of course, that the projected 111 million viewers are understated.
There are concerns about the disparity between the number of new users and the number of knowledgeable users, despite the large number of new users. One of the world’s most prestigious sporting events is an ideal place to spread awareness about cryptocurrency, as many athletes have expressed an interest in investing. Deciphering and educating oneself is becoming increasingly popular.
Crypto Exchanges Create a Significant Debut During the Super Bowl
A 30-second commercial slot for up to $7 million will be used by FTX during the Los Angeles Rams’ game against the Cincinnati Bengals on Sunday, which is expected to draw over 100 million viewers. The increase in new users following the game will help keep the platform’s trading volume growing.
CRYPTO INTO SPORT MARKET?
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