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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