Hollywood Actor Matt Damon Explains Why he Appeared on Crypto.com Ad

The American actor – Matt Damon – partnered with Crypto.com in 2021 to become the face of its marketing campaign. However, the ad called “Fortune favors the bold” received severe backlash from the community.

In a recent interview, he admitted that the exchange distributed $1 million to his charity entity, water.org, which has become his main motive behind the deal.

  • Like many other rivals, Crypto.com launched several marketing efforts during the bull run in 2021. One of its most popular ads included a commercial that featured the movie star – Matt Damon.
  • The advertisement, shot in a futuristic environment, advised people to take their chances and hop on the cryptocurrency bandwagon using the platform’s services.
  • Numerous cryptocurrency critics on Twitter roasted Damon for his involvement, arguing that his popularity could drag inexperienced investors into a volatile industry, causing them significant financial loss.
  • During a new film premiere, the Academy Award-winner revealed that Crypto.com distributed $1 million to his charity organization water.org at a time when funds were most needed, which is why he agreed to appear in the ad:

“And I did that commercial in an attempt to raise money for water.org. And I gave my whole salary to water.org because we were down. And Crypto.com heard about that, and they gave $1 million to water.org just on their own. So I definitely have a lot of gratitude to them for what they did for our foundation.”

  • As Bloomberg reported in 2021, Damon is also an investor in Crypto.com. 
  • The exchange finalized its most famous marketing campaign a few weeks after the ad with the actor, inking a $700 million deal with the iconic Staples Center in Los Angeles. As a result, the home ground of the LA Lakers and the LA Clippers was renamed Crypto.com Arena.

Featured Image Courtesy of The_Guardian

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