FTX marketing hitting the FOMO nerve through their latest crypto ads – ‘There’s a price to waiting, especially when it comes to crypto’.
There’s a price to waiting, especially when it comes to crypto. pic.twitter.com/EpW7B9TXUg
‘There’s a price to waiting, especially when it comes to crypto’ Ads
Over the past few days, FTX rolled out two national (U.S.) ads for their Blockfolio trading and portfolio management app built for the mainstream audience, considerably upping their marketing game. The first ad presents a guy hesitant to walk up to a girl he likes, “maybe later” he says to a colleague. Well, that doesn’t work out too well for him. Before he knows it, the beautiful woman he was eying got engaged, married, and – pregnant. The ad saying: yep, that’s how fast it can happen… especially in crypto.
Funny in a way because, zooming out a little, the commercials were released during a time of overall market hesitancy. With people’s sentiment in a state of ambivalence, the possibility of embodying the same fate the two o’ so unlucky protagonists underwent potentiates. Whether it’s seeing the girl of your dreams scooped up in front of you or being too slow to act while viewing your new potential home, the result is the same: too late, you missed out. The candles have left you standing in front of a tower of green.
Ah all according to our plan for world domination
Hardcore crypto traders -> moms of hardcore crypto traders -> the world https://t.co/1K9oWJXWNK
— FTX – Built By Traders, For Traders (@FTX_Official) July 7, 2021
Yet, jokes aside, the ads can be seen as a pretty aggressive marketing move appealing to an audience that crypto has left more or less unaddressed. Smart.
FTX and the public eye
FTX, the crypto exchange owned by twenty-nine year old billionaire Sam Bankman-Fried, has made some major moves, placing itself in key areas of the public arena over the past year. Apart from sponsoring many of the leading podcasts within the industry, the most prominent deals perhaps being the $135 million naming-rights deal with NBA team Miami Heat. Effectively rebranding the arena once known as American Airlines Arena into the FTX Arena as of June. Yet, this was quickly followed by another sports partnership – esports this time – getting into a 10-year $210 million agreement with esports organization Team SoloMid, including various marketing deals and changing the name to TSM FTX. Here too, an ad was produced. An ad, that, like the novel FOMO ads, has a stroke of comical genius to it.
It’s time for a new era of TSM.
— TSM FTX (@TSM) June 4, 2021
As if it weren’t enough already, FTX went on to enter into a multi-year deal with MLB, America’s professional Baseball organization, becoming its official cryptocurrency exchange, involving marketing acts such as MLB umpires (referees) wearing FTX patches on their uniforms starting with the All-Star Game on July 13, according to TheAthletic.
Suggested Read: Tom Brady and Gisele Bündchen Invest In FTX Exchange
The latest deal of the Hong Kong-based exchange brought NFL quarterback and seven-time Superbowl champion Tom Brady, along with his wife Gisele Bündchen, onto the FTX team as brand ambassadors, as well as becoming shareholders of the company.
Considering these developments, as well as taking into account the recent announcement of FTX joining Visa’s FinTech Fast Track Program, FTX is positioning itself to increase its role within the crypto space. Whether other crypto-related companies will follow suit in the full steam marketing stunts remains to be seen, crypto.com’s UFC partnership definitely points in that direction.