Bitwise’s latest Ethereum ad can be minted as an NFT
|Digital asset manager Bitwise released its first spot Ether (ETH $3,509) exchange-traded fund commercial on Thursday, allowing non-fungible token (NFT) enthusiasts to mint the 39-second clip on Ethereum.
“Capture a piece of crypto history: the 1st national TV spot minted as an NFT,” Bitwise claimed in a June 20 X post.
Bitwise themed the ad on Ethereum, operating 24/7 while “big finance” sleeps, seemingly taking inspiration from an Apple ad comparing Mac computer devices to PCs in the early 2000s.
The Bitwise ad consists of a dialogue between a casually dressed, younger man representing Ethereum and an older man in a nightgown with business attire underneath (representing “Big inance”) who is hopping into bed at the close of trading hours.
“You’d want a little shut-eye too if you’ve been moving billions around the world," says Big Finance rather proudly.
“Well, actually, I do.” the Ethereum man replies. "Stablecoins, NFTs, loans, people can access me 24/7 [...], but look, everyone's different. You should get some rest,” he says as he tucks "Big Finance" into bed.
Bitwise described the ad as a "piece of history."
1,198 mints of the 39-second clip have been made so far from 530 unique minters, according to the Zora Network, an Ethereum layer-2 solution focused on artists and brands.
According to Bitwise, 50% of the NFT proceeds will go to Protocol Guild, a collective funding mechanism created by Ethereum core contributors.
The remaining 50% will go to the ad’s two actors, Jamie Kaler and Michael Tacconi.
Protocol Guild, Kaler and Tacconi have earned a combined $1,865 or 0.53 Ether from the NFT mint so far.
Last month, Bitwise and seven other firms had their 19b-4 applications approved to list spot Ether ETFs by the United States Securities and Exchange Commision on May 23.
Bitwise amended its S-1 registration statement on June 18 to include a potential $100 million investment into the Bitwise Ethereum ETF upon its trading launch.
S-1s are the last filing that must be approved by the SEC before the Ether products can launch.
They may launch as early as July 2, according to Bloomberg ETF analyst Eric Balchunas.
VanEck recently released its own spot Ether ETF ad, which it unveiled within an hour of the SEC approving the 19b-4 filings.
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