The campaign has a twist: the size of the bitcoin giveaway depends on the runtime of the ad. For example, if it airs at 9:02 p.m., the exchange said it will give away 9.02 bitcoins. As of Monday, that’s worth around $397,000.
To be eligible, participants must follow the FTX Twitter account and retweet the pinned tweet between the time it goes live and 11:59pm. ET No purchase is required, although participants must be legal residents of the United States (except for New York).
Four winners will be notified afterwards, the exchange announced. In order to claim the prize, they must open and obtain approval for FTX accounts.
The airtime for the FTX’s advertisement is planned for the second half of the game, although the exact time has not been given. Bankman-Fried first announced his firm’s ad purchase in October 2021.
“Sports fans are twice as likely to be alert to crypto than non-sports fans,” the founder and CEO said at the time. “Avid sports fans are almost three times more likely.”
Other cryptocurrency firms have joined the Super Bowl ad bandwagon. Coinbase Global, the largest cryptocurrency exchange in the US, will have a spot, according to the Wall Street Journal, and also Canadian cryptocurrency exchange BitBuy.
Super Bowl LVI is played between the National Football Conference champions, the Los Angeles Rams, and the American Football Conference champions, the Cincinnati Bengals.
The annual championship game is a huge televised event most years, with the game drawing 91 million viewers in 2021.