Every February, the world shifts its eyes toward the biggest sporting event of the year – the Super Bowl.
Many people who are typically not interested in American football still tune in to watch the event, which clearly attracts the attention of companies and advertisers around the world. Interestingly, Bitcoin and other cryptocurrencies made headlines by running several ads, as the global demand for the digital assets appears to have reached the mainstream.
During yesterday’s Super Bowl, TD Ameritrade ran a TV commercial, which advertised trading on Bitcoin futures. The company recently launched trading on Bitcoin futures via CBOE in December of last year, accommodating traders’ demand for the digital asset. The ad was yet another clear example of Bitcoin going mainstream, as even the largest financial companies have opened the door to cryptocurrency trading products.
— Derek Waltchack (@dwaltchack) February 4, 2018
NFL Players Intrigued by Cryptocurrencies
Veterans of the crypto space should not be surprised by the fact that Bitcoin was mentioned during the Super Bowl. It appears that Bitcoin and other virtual coins have been on the minds of several NFL players, vying to invest in the highly discussed crypto sphere, amid growing buzz across the industry in recent months.
One NFL player who has taken a leading role in the industry is Richard Sherman of the Seattle Seahawks. Sherman has been aware of Bitcoin for some time, prior to the current mainstream craze that has overtaken the sector, as he has been accepting Bitcoin as a payment method on his merchandise website since 2014. Sherman is an investor and owner of Bitcoin, Ethereum and Litecoin, among other cryptocurrencies. In addition, he is also a spokesperson for the crypto exchange Cobinhood, which he recently mentioned through his Twitter account.
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— Richard Sherman (@RSherman_25) December 12, 2017
With regard to which coins he and his fellow NFL players have been showing interest in, he said: “Who knows, You read up, you hear great things about some, you hear terrible things about others, they fluctuate throughout the day. It is such an unpredictable market.” Sherman’s comments illustrate the lack of certainty in the cryptocurrency market, and importance of conducting thorough research to gain the most accurate information possible.
Despite the high risk associated with cryptocurrencies, NFL players have been intrigued by the prospect of gaining high returns on their investments. According to a 2015 study by the National Bureau of Economic Research, one in six NFL players files for bankruptcy within 12 years of retirement from the league. That staggering statistic shows the importance for players to plan their financial futures.
Sherman also commented on the need to take steps to improve the financial outlook of players, saying: “A lot of them have just been trying their best to become more educated on not only cryptocurrencies, but just stocks and trading in general. Because a lot of them have been taken advantage of by financial advisers. So people in my sport, in my field, are definitely becoming more educated and trying to be more intelligent with how they play for the money and understanding where their money is going.”
The National Football League (NFL) has seen its flagship event come a long way since its 1967 debut. Sports and entertainment fans alike come together on the first Sunday (usually) of February each year, across various venues, including Super Bowl parties, bars all over the US, and other gatherings, to enjoy the game together. It has truly become a spectacle in the US and throughout much of the world, acting as the biggest stage in terms of ratings and viewership. The Super Bowl has long become more than just a sporting event. The event has become entrenched in American culture, and has become an unofficial holiday in the country.
It goes without saying that such a large-scale event has been able to produce enormous financial implications that are felt through advertising revenues, merchandise sales, and the sheer volume of food and beverage sold across the US.
NBC, which purchased the rights to air the Super Bowl this year, is said to have sold each 30-second ad slot for more than $5 million each, illustrating the incredible magnitude of the event, and its effects on consumerism as a whole. Comparatively, the cost of a 30-second commercial during the 2016 Oscars was roughly $2 million, while Game 7 of the World Series (baseball) of the same year drew $500,000 for ads of the same length.