In an effort to go mainstream and appeal to a younger demographic, companies dealing in bitcoin and other virtual currencies are adopting some unique marketing campaigns — including sponsorships of college football Bowl games and music festivals.
BitPay announced today that it will be the new title sponsor for the annual NCAA college football game held in St. Petersburg, Fla. The postseason bowl game has been held in Florida since 2008, and will be called the “Bitcoin St. Petersburg” game.
Last year, when Beef O’Brady’s was the game’s sponsor, East Carolina University defeated Ohio University 37-20.
The BitPay sponsorship is intended to advance bitcoin, in general.
“Our goal is to continue to move bitcoin into the mainstream and sponsoring the St. Petersburg Bowl offers us that opportunity,” said BitPay CEO Tony Gallippi. “College football fans and the bitcoin community represent a similar target demographic – tech-savvy men between the ages of 18 and 40.”
And it looks like college football fans are not only interested in bitcoin, but investors in the cryptocurrency, as well. Last year, a college student held up a QR code of his bitcoin wallet with the caption “Mom Send Bitcoin.” His mother didn’t, but other bitcoin users took notice on Reddit and sent him some bitcoins. Eventually, the wallet accumulated up to $20,000 in donations.
Made in America
Concert sponsorship is also part of the plan to broaden bitcoins’ appeal. A few weeks ago, it was announced that Coinbase and Budweiser would partner and offer $10 worth of bitcoins to attendees of the Made in America music festival, with a major joint concert in both Los Angeles and Philadelphia on Labor Day weekend.
These are just a few of the efforts being made to increase awareness of virtual currencies — we all remember the Dogecar that ran at Talladega this year — and help young people understand what bitcoins are and how they can be used. No matter which team is victorious on the field, Bitcoin may emerge as the winner of the game.