Crypto.com Looks to Cash In on Bull Market With $100M Advertising Campaign
The ad, “Fortune Favors the Brave,” stars actor Matt Damon and is directed by Oscar-winning cinematographer Wally Pfister.
Oct 28, 2021 at 8:33 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/INXFEPO2QZALBJU5TCO7K2ZJZU.jpg)
NEW YORK, NEW YORK - OCTOBER 09: Matt Damon and Luciana Barroso attend "The Last Duel" New York Premiere at Rose Theater at Jazz at Lincoln Center's Frederick P. Rose Hall on October 09, 2021 in New York City. (Photo by Arturo Holmes/Getty Images)
Cryptocurrency exchange Crypto.com is embarking on a global advertising campaign, looking to cash in on the latest surge in the cryptocurrency market.
- A spokesperson for the company told CoinDesk the exchange has invested $100 million in the campaign, which encompasses more than 20 countries and will run for “several months.”
- Entitled “Fortune Favors the Brave”, the ad stars Matt Damon and is directed by Oscar-winning cinematographer Wally Pfister, Crypto.com said Thursday.
- The campaign represents an aggressive move on the part of Crypto.com and follows less than two months after crypto derivatives exchange FTX launched a $20 million U.S. ad campaign featuring football quarterback Tom Brady and his wife Gisele Bündchen.
- After a relatively sedate summer, the crypto market has been given renewed momentum, buoyed by the long-awaited debut of a bitcoin futures exchange-traded fund in the U.S. Crypto.com will be aiming to capture this momentum to help establish the brand in front of a wider mainstream audience.
- The ad’s message is “focused on financial independence and self determination,” CEO Kris Marszalek said in a statement, with its timing coinciding with the “early stages of mainstream adoption of cryptocurrency.”
UPDATE (Oct. 28, 13:19 UTC): Changes photo.
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Jamie Crawley is a CoinDesk news reporter based in London.
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