Hollywood's Morgan Freeman and "Game of Thrones" star Peter Dinklage will be facing off in a PepsiCo Super Bowl commercial.

In a 60-second spot, the snack and beverage giant will promote both Mtn Dew Ice and Doritos Blaze. It's the first time Pepsi has taken this approach.

Pepsi is also a sponsor of the Super Bowl, a role that gives it an opportunity to advertise the brand through its on-screen logo, during halftime and in promotions in first and second quarters. The value of that branding exposure is $32 million, according to Apex Marketing Group.

Meantime, if the winning coach is dunked in Pepsi-owned Gatorade, that's an extra $2.2 million of branding, according to Apex.

Super Bowl LII takes place on Feb. 4, and will air on NBC.

Disclosure: NBC and CNBC are owned by Comcast's NBCUniversal unit.