Leading crypto company, Crypto.com, has announced a new face to represent the company in the form of a long-term collaboration. The award winning actor and producer Matt Damon will be the latest celebrity crypto backer, launching the collaboration with an advert aimed at increasing their global customer base.
The ad campaign titled “Fortune Favours the Brave” sees Matt Damon promote Crypto.com and the crypto industry, referring to the development of the nascent crypto industry. The ad campaign was directed by Oscar-winner Wally Pfister and was produced by David Fincher.
Matt Damon acknowledged in an in an interview, that this was his first involvement with a crypto company:
“I’ve never done an endorsement like this. We’re hoping this is the beginning of a great long-term collaboration.”
The non-profit organization created by Matt Damon, Water.org, will receive a donation of $1 million from Crypto.com, as part of its charitable commitment, which includes a commitment to address the climate crisis. As such, Crypto.com has pledged to be a carbon negative business by the end of 2022.
Crypto.com aims to gain new customers in over twenty countries with the latest marketing campaign, and have brought on a number of celebrities to help them reach their goal, including Ronda Rousey, Carmelo Anthony and Lindsey Jacobellis.
The co-founder and CEO of Cypto.com, Kris Marszalek, told Insider:
“This is our first branding campaign. We wanted to create a very powerful connection ...cryptocurrencies are less and less about just trading and more about building the future of the internet.”
The rapid development of cryptocurrency businesses has been assisted by the promotions and collaborations with celebrities and influencers, who have been able to raise a project’s visibility through their extensive reach and fan base. A number of high-profile sports teams such as teams within the NBA have partnered with the likes of Socios.com in sponsorship deals that will enhance Socio.com’s global engagement. At the present moment, a total of 24 out of 30 NBA teams are now Socios affiliates.
While celebrities and influencers undoubtedly help with the process of adoption, a number of concerns surrounding celebrity endorsements of cryptocurrencies have emerged. Concerns that celebrity endorsements could influence vulnerable or ill-informed investors have been raised, as well as a few occasions when influencers have knowingly, or unknowingly, participated in scams.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.