At the beginning of 2022, actor Matt Damon argued that the world was ready to split into two clear factions: supporters and opponents of cryptocurrencies. He himself sided with the former and described them as bold people with a nose for it. He then suggested that the others were shortsighted, and did not recognize an investment with a future that would build fortunes almost immediately.
Fortune favors the brave
Damon was the friendly face in the forefront of the ad campaign promoting Crypto.com, “Fortune Favors the Brave”, which was launched in the United States during the Superbowl.
The Super Bowl is without a doubt the most watched sporting spectacle of the year in the United States. At the time, the promoters spared no expense.
People trusted Matt Damon
Because of the recent crypto crash, this turned out to be a PR nightmare for Matt because of the backlash on social media. Users have even called him a thief, swindler, and scoundrel. People have even assumed he was responsible for inciting investors to lose their life savings by investing them in fraudulent or volatile mechanisms.
This has also affected Matt Damon’s reputation as a brand, which took decades to build, as an impeccable, level-headed, and normal character who has not lost his ground to fame. Today he is associated with a financial disaster.
As a consequence, the actor applied a “tactical withdrawal”, that is to say, he no longer touches the subject and limited his public appearances while he lowers the level of criticism.
According to the British newspaper, The Financial Times, “Crypto.com sought out Damon as an ordinary guy, far removed from technology speculation”. To sell bitcoins to billionaires and technophiles.
He got paid in dollars, not crypto
However, he himself did not try these tools to cash in on his campaign, even in the cryptocurrency bubble, as he cashed every penny of his campaign with Crypto.com in US dollars, even though he may well have been paid by bitcoin transfer.
More celebrities who were affected for supporting cryptocurrencies
Snoop Dog and Ellen DeGeneres were promoters of investing in cryptocurrencies along with Flea, bassist of Red Hot Chili Peppers, promoted the sale of crypto-art through social networks, although he admitted that he did not know very well “what he was selling”.
Another example is the NBA player Joel Embiid, who participated in a Crypto.com campaign, Bravery is a Process, which was launched on May 6, in the first attempt to counter the negative impact of the bitcoin crash. He even stated, “We must persevere even when everyone thinks we are on the wrong track.”
Actress Reese Witherspoon issued a phrase that at the time went viral: “crypto is here to stay”. Now, she acknowledged that she spoke from ignorance and that she was badly advised. Nevertheless, she cashed in a juicy amount.
While actress Gwyneth Paltrow went to such excess as writing a tweet where she stated that cryptocurrencies are “feminist” because they give women the opportunity to invest on equal terms with men.
Keanu Reeves’ trusted his instincts
Someone who came out of this maelstrom was actor Keanu Reeves, during an interview with The Verge magazine he broke into laughter when asked if he planned to invest in digital assets such as NFTs
“They’re a fraud! They’re supposed to be unique, but they can be easily reproduced. They are images of very dubious artistic value. They are copied with a click, but a group of investors has decided that they can be worth millions because they have a digital certificate of authenticity that makes them exceptional”