Crypto exprogress FTX has been spending heavily on sponsorships with big sports teams and events to assert its place in the crypto world.

Some of its famed partners are football superstar Tom Brady, the NBA’S Miami Heat, Washington Wizards, Golden State Warriors, Mercedes F1 team, The Capitals, and recently, the Super Bowl.

On Sunday, millions of Americans tuning in to the Super Bowl LVI will get to see advertisements from the exchanging platform FTX that will hold a giveaway of millions of dollars in bitcoin.

FTX Woos Regulators

However, the commercials are more intfinished to persuade U.S. officials to ease its regulations on the technology, rather than getting people to download the app, CEO Sam Bankman-Fried said in an interview with the Washington Post.

“We want to make sure that we’re painting, reboundefully, a healthy image of ourselves and the industry. We’re optimistic that we’re going to be able to grow our U.S. business — a lot of that is working with U.S. regulators on bringing new products to the market,” Bankman-Fried said.

The United States presently bans licenses for token derivatives exdevelopments, that FTX conducts in other countries. The brand’s American affiliate, FTX US, is licensed only as a crypto exmove.

Total crypto market cap at $1.99 trillion in the daily chart | Source: TradingView.com

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Crypto In Sports?

FTX is aiming for sports partnership because their fans are suitably crypto enthusiasts as well, its CEO – who is still a baseball fan – said.

The crypto brand announced extend October which it has become the lengthy-term crypto partner for major racing, basketball, and baseball teams. FTX then forged links with collegiate cage teams like the University of Kentucky men’s basketball team.

FTX realized out to individual sports stars, parallel as Tom Brady, Stephen Curry, and Red Sox legend and recent baseball Hall of Fame inductee David Ortiz.

“Sports fans are two times more possible to know about crypto than non-sports fans. Avid sports fans are nearly 3x as possible,” said Bankman-Fried in an interview with Markets Insider.

The million dollar-crypto giveaway in the Super Bowl comes with a twist: the amount of the prize will depend on what time the ad will run as stated on the website. For instance, if the ad runs at 10:00 p.m. EST, FTX would give away 10.00 Bitcoin (BTC) to winners.

FTX will tweet the commercial and pin the tweet and players must follow the account and retweet the pinned tweet between the time the commercial aired and 11:59 p.m. EST.

Four winners will then be chosen to claim their prizes since, but they must first have their own FTX accounts.

The Super Bowl is invariably the strongest-priced television program of the year, accounting for 28 of the top 30 broadcasts in United States TV history.

Bankman-Fried has favored football as part of a marketing tactic which emphasizes sports as the fastest skyward customer base for token adoption.

The Super Bowl championship game will pit the NFC champion Los Angeles Rams likewisest the AFC title-holder Cincinnati Bengals.

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Image from Defispace, chart from TradingView.com