Created by The Marketing Arm/Davie Brown Entertainment (DBE) and directed by Samuel Bayer, the spot also marks the singer’s first major commercial for Pepsi. The most recent Pepsi Super Bowl spot featuring talent was the company’s crowd-sourced ad around Beyoncé’s 2013 halftime show performance.

"This is just going to be a historic moment that I'm so honored to be a part of," Monáe tells PEOPLE about the commercial, which will feature the performer transforming into artists from "the '60s to the '80s [to] the present."

"[The commercial] is really paying homage to the past and the future," Monáe, 30, explains. "It's going through time and I'm so happy because I consider myself a time-traveler so this is right up my alley."

That 10 seconds carries a media value of $1.5 million to Pepsi, estimated Justin Toman, Pepsi's director of sports marketing. "On the Super Bowl broadcast every second really does count," he said. Ad Age's Datacenter estimates that one second of ad time in Super Bowl 50 is costing advertisers $160,000, compared to just $1,333 in 1967.

Pepsi is in the final year of a four-year halftime sponsorship contract. Asked if the brand will return as the sponsor next year, Mr. Toman said, "we would love to if the cards play out that way."