A common theme in the cryptocurrency ads has been that cryptocurrency is the future as major industry players try to entice a larger demographic into becoming users of the digital payment system that is an integral part of the next generation Internet, commonly referred to as Web3.
Los Angeles Lakers superstar basketball player LeBron James starred in an advert for Crypto.com, reminiscing about his youth in 2003, when young LeBron found it hard to believe there would be wireless headphones, that people would be able to “watch movies through their phones,” or, as he put it, “you will all drive electric cars.”
The crypto ad that generated the most laughs is a one-minute FTX commercial in which Larry David, known for his song Curb Your Enthusiasm, dismisses or rejects some of the world’s greatest inventions and advances at the moment they appeared, including Thomas Edison’s wheel . a light bulb (“Edison, can I be honest with you, it stinks”), the moon landing, and portable music.
The commercial, which featured over 100 actors, seven sets in a Hollywood studio and is believed to have cost around $7 million in airtime alone, ends with David giving up on the FTX cryptocurrency exchange before the ad closes with the words: “Don’t be like Larry, don’t miss the next big thing.”
As a New York Times columnist wrote this week, “Because Larry David doesn’t receive crypto, that makes him the perfect advertiser.” At a time when there are still plenty of virtual currency detractors and naysayers out there, FTX may have played masterfully with one of the most talked about Super Bowl commercials in 2022.
Working on the FTX marketing team should be full but fun. Launched in 2019 alone, the virtual currency exchange is already valued at over $30 billion and, with an eye on the sports arena and popular culture, has launched multi-million dollar campaigns in recent months with iconic figures like Tom Brady and a cool music festival. Coachella.
In January, the Bahamas-based exchange founded by Sam Bankman-Freed created FTX Ventures, a venture capital unit with $2 billion to invest in startups in social media, gaming, fintech, software and healthcare.
Closer to home, FTX was one of the lead investors backing Scotland-headquartered BetDEX in November, raising $21 million in the largest seed round secured by a UK-based startup, supporting BetDEX’s mission to build the world’s first decentralized global sports protocol. rates. .
Commenting on the investment on the occasion of the announcement, Bankman-Fried said: “We are thrilled to be supporting a team with deep industry experience to transform the sports betting experience and are thrilled to partner with BetDEX to make this vision a reality. ”
BetDEX is currently hiring people from a base in Scotland to be the flag bearer for blockchain and Web3 in a Scottish context.
Nick Freer is the founding director of Freer Consultancy, a strategic corporate communications agency.