Cointime

Download App
iOS & Android

FTX-Backed NFT Company Airing $6.5 Million Super Bowl Commercial

“Seinfeld” co-creator Larry David is unlikely to make an appearance at this year's Super Bowl after shilling for FTX during last year’s game, but that doesn’t mean there won't be anyone with ties to the collapsed crypto exchange there promoting digital assets.

The NFT and gaming company Limit Break, backed by FTX in a funding round last year, spent $6.5 million for a 30-second advert that will air during this year’s Super Bowl, the company said in a statement. It’s the first time an NFT developer has purchased an ad during the Super Bowl, one of the most-watched events on television that brings in an audience of roughly 100 million people each year.

Limit Break will use its time to promote a “free” NFT tied to the web3 gaming ecosystem it has been developing.

Celebrities from David to Tom Brady promoted FTX but have been steering clear of crypto for the most part since the exchange became marred in scandal late last year.

Limit Break’s not counting on VIP celebrity endorsements. Instead, its upcoming ad will feature an animated princess and a baby dragon promoting its “free-to-play” gaming model and “free-to-own” digital collectibles strategy.  

Screenshot from upcoming Super Bowl advertisement. Source: Limit Break.

Limit Break’s Super Bowl NFT mint is intended to bring new users into its “crypto community,” the company said. The NFTs will be part of DigiDaigaku, which Limit Break describes as “a digital collectible series of anime-style characters” that it hopes will help introduce people to what it calls a “new ‘free-to-own’ gaming model."

A web3 gaming startup developing massively multiplayer online (MMO) games, Limit Break announced last August it had raised $200 million over two rounds of venture funding. Crypto exchanges FTX and Coinbase participated in the fund raise, according to Limit Break.

The founders of Limit Break were previously top executives at the mobile gaming firm Machine Zone, which created free-to-play games such as Game of War, Mobile Strike and Final Fantasy: XV.  

The football game featuring the Kansas City Chiefs and Philadelphia Eagles is set for Feb. 12.

NFT
Comments

All Comments

Recommended for you

  • Survey: 75% of Nigerians Confident in Using Bitcoin for Financial Transactions

    A new survey shows that 75% of Nigerians are confident in using Bitcoin for financial transactions. This survey result comes at a critical time in Nigeria's traditional financial market. In recent months, the Nigerian currency, the Naira, has sharply declined, and the government is trying to maintain the Naira exchange rate while also targeting cryptocurrency. One of the measures recently taken by the Nigerian Securities and Exchange Commission (SEC) regarding the cryptocurrency industry is to propose a significant 400% increase in registration fees for cryptocurrency exchanges.

  • Amaranth Foundation founder spent $24.7 million to buy 7,814 ETH

    According to Spot On Chain, James Fickel, founder of Amaranth Foundation, spent $24.7 million in the past 40 minutes to purchase 7,814 ETH at a price of approximately $3,161 per coin. This giant currently provides Aave with 128,516 ETH ($404 million) and 40.97 million USDC, and has borrowed 2,266 WBTC ($146 million), seemingly trading long on the ETH/BTC pair since December 2023.

  • Vitalik: PoW is also quite centralized. PoW is just a temporary phase before moving to PoS

    Vitalik Buterin, co-founder of Ethereum, stated on social media that PoW is also quite centralized. It just hasn't been discussed too much because everyone knows it's just a temporary stage before transitioning to PoS. This doesn't even involve how to potentially avoid ASICs, simply because the upcoming PoS transition means there's no incentive to build them.

  • If a Hong Kong spot virtual asset ETF is sold at a premium, it can be converted into Hong Kong dollars on the Hong Kong Stock Exchange

    Currently only a few Hong Kong brokers with virtual asset retail licenses can subscribe to the Hong Kong Bitcoin ETF through the new share subscription method (PD/distributor), and after the ETF officially enters the Hong Kong Stock Exchange, all hundreds of Hong Kong brokers and banks can purchase it. The approved virtual asset ETF adopts the performance of the ChiNext CF Bitcoin Index (Asia-Pacific closing price), so the profit and loss risks of cash subscription for Bitcoin ETF are basically the same as those of directly buying Bitcoin. As the exchange ratio between Bitcoin and Bitcoin ETF is fixed, if physical subscription is used in the IOP stage, that is, Bitcoin is used to subscribe to Bitcoin ETF, the relevant ETF can be exchanged for Hong Kong dollars in the exchange if it is sold at a premium after listing, and then buy back Bitcoin at the same time to earn the price difference between on-exchange and off-exchange. (Finance News Agency)

  • SEC sues Bitcoin mining company Geosyn, accusing its founder of $5.6 million fraud

    On April 26th, the US SEC filed a lawsuit against bitcoin mining company Geosyn Mining and its co-founders, accusing them of falsely reporting the number of cryptocurrency mining equipment in operation and using customer funds for personal expenses, resulting in a $5.6 million investment fraud.

  • Hong Kong Stock Exchange to Start Trading Harvest Fund’s Bitcoin and Ethereum Spot ETFs on April 30

    The Hong Kong Stock Exchange will begin trading Harvest's Bitcoin and Ethereum spot ETFs on April 30.

  • The total market value of stablecoins exceeds 158 billion US dollars, and USDT has a market share of 69.8%

    According to DefiLlama data, the total market value of stablecoins has reached 158.197 billion US dollars, with a 7-day growth rate of 0.16%. Among them, the market value of UDST is 110.426 billion US dollars, with a market share of 69.8%.

  • Bitcoin spot ETF has a cumulative net inflow of US$12.082 billion, and Grayscale GBTC has a cumulative net outflow of over US$17.1 billion

    According to Farside Investors, the cumulative net inflow of Bitcoin spot ETF has reached 12.082 billion US dollars since its launch. Among them:

  • Rune DOG•GO•TO•THE•MOON ranked first in transaction volume in the past 24 hours

    According to Ord.io on social media platform, the top 5 trading volumes for runes in the past 24 hours are:

  • CARV announces completion of $10 million Series A financing, with OKX Ventures participating

    CARV announced the completion of a $10 million Series A financing round, led by Tribe Capital and IOSG Ventures. Consensys, OKX Ventures, Fenbushi Capital, No Limit Holdings, Draper Dragon, Arweave, ARPA, MARBLEX, and others participated in the round. The aim is to build the largest modular data layer for gaming and artificial intelligence, and to maximize data innovation while ensuring that individual users can derive value from internet sharing.Jeff Ren, partner at OKX Ventures, said, "CARV's revolutionary approach is reshaping the way we manage decentralized data. Its modular cross-chain protocol and ID aggregation solution cultivate data sovereignty and integrity while emphasizing security and efficiency. We are excited about this collaboration and look forward to seeing how OKX Web3 products can better collaborate with CARV's advanced cross-chain data layer."