The Super Bowl will be a crypto ad onslaught... But it's just the capstone on a year when the industry went all in on sports fans, explains emmabaccellieri
“We wanted to do something that would get us out there really quickly in a way that would establish ourselves as a trusted partner,” says Brett Harrison, president of FTX US, the crypto exchange that has made significant deals with a slew of individual teams, with MLB and with Brady, Ohtani and Curry. “There are very few kinds of things you can do in the U.S. that reach so many people so quickly and are such an old, trusted institution as sports.
In other words, there is a sizable segment of sports fans—known to wager their happiness, and sometimes their fortunes, on the vicissitudes of a bouncing ball—who have an appetite for risk. “It was very easy to get your arms around daily fantasy when it first came out,” Lynch says. “Betting in general—it’s pretty black and white in terms of being able to understand. When you look in the crypto space … it’s quite complex, and the future of what that looks like is going to be quite complex. I think there are going to be a lot of mistakes and bets made that probably won’t pay off at the end of the day.
“One of the things that we're hearing from our clients in the crypto space is they are fearful of aligning with one fan base and alienating the other,” says Jessi Sanchez, senior vice president of consulting and valuation at Playfly Premier Partnerships, a sports marketing firm. “That’s why the league deals are so attractive to some of these brands. When they pick the umpire, you get your media effectiveness—because you’re getting it in every single game—but also that neutrality.
The Rams’ Beckham is one of several athletes who've said they are taking their salary in a cryptocurrency—the results have not always, at least so far, been a net gain.It is, of course, much easier for a company to advertise its trustworthiness than to prove it. And in crypto—a sector that is moving quickly, with plenty of space for bad actors or scams that can seize on investors who are new to the space—that’s particularly so.
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