How Did FTX Manage To Rope In Ad-avoider Larry David In A Crypto-Ad?

• Larry David, also known as ad-avoider, did his first ad ever with FTX, the popular cryptocurrency exchange.

• The ad was broadcasted during the Superbowl championship on 13th February 2022. 

• The ad aims to promote cryptocurrency adoption and targets skeptical people about the digital currency sphere. 

A few days before the SuperBowl championship, FTX announced the giveaway of free Bitcoins during the annual championship. 

The popular cryptocurrency exchange managed to rope Larry David in their latest campaign. The advertisement was telecasted for the first time on 13th February 2022, during the SuperBowl championship.

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Larry David, a known ad avoider, has agreed to appear in a pro-crypto ad. This is the first advertisement he’s ever agreed to appear in.

Interestingly, this is the first ad that Larry had agreed to appear in. He even gained himself the name of ad avoider because of his nature to avoid ads. Here he appears in a pro-crypto ad. 

This ad targets individuals who are still skeptical about crypto and aims to accelerate the adoption of cryptocurrency.

The ad with a 60-second spot was broadcasted in the first half of the game where Larry David plays “anti-sponsor.”

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Embracing Skepticism Means Meeting People Where They Are: FTX CEO

San Bankman-Fried, CEO and co-founder FTX, believes that we need to meet people where they are to embrace skepticism. Those who once had significant reservations are probably the most prominent crypto advocates. 

Jeff Schaffer, longtime creative partner of Larry David on both Seinfeld and Curb Your Enthusiasm. FTX’s creative agency, dentsuMB, pitched the concept. Larry David loved the concept. As mentioned earlier, Larry David had never done a commercial before but agreed to be part of this ad that went live during Superbowl. 

Schaffer shared that Larry had many visitors pitching for ads from beer brands to toilets over the years. He said whenever they would get an ad script, they would always have some suggestions, but when this concept was presented, they found it perfect. Schaffer adds, “ Every invention has its skeptics, and Larry is the proud voice of those people.”

Cryptocurrency Adoption Is Inevitable 

More than half of the cryptocurrency holders in America bought their first crypto asset in 2021, as per the data from an Ascent survey conducted last year. Around 56.7 million (more than 20% Americans) have never purchased a crypto asset. However, the sentiment expressed in the survey shows it is highly likely they will buy it next year. 

FTX has experienced stable growth along with the rapid adoption of crypto. FTX claims its average trading volume rose by 608% in 2021. In the first complete year of operation, total spot crypto trading was reduced to $67 Billion. As of now, the total number of users on the exchange is around 1.2 Million, which is an 11,900% increase since 2021.

Nathaniel Whittemore, Head of Marketing at FTX, expects people not to take the ad seriously. They aimed to make people laugh and inject some fun into the experience and tradition of Big Game. He further adds that they are not trying to bring home that crypto is the greatest invention of humankind ever. However, they do see great potential in it.