Cryptocurrency exchange Crypto.com is making strides with a global ad campaign that aims to cash in on the latest spike in the cryptocurrency space. A company spokesperson said the exchange has so far invested $100 million in the campaign.
The Crypto.com campaign encompasses 20 countries and will run for several months, according to the spokesperson. The ad will be titled “Fortune Favors the Brave” and will feature Matt Damon. The campaign is helmed by Oscar-winning cinematographer Wally Pfister, making it a Hollywood affair.
The campaign is a strong move for the crypto exchange. The ad campaign comes just 2 months after crypto derivatives exchange FTX launched its own US$20 million ad campaign featuring Tom Brady and Gisele Bundchen.
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After a fairly calm summer, the crypto space is beginning to recover, thanks to the long-awaited debut of the Bitcoin exchange-traded fund in the United States. Crypto.com aims to capture this push with its ad campaign and establish the brand in front of a wider mainstream audience.
The message of the ad places a strong emphasis on financial independence and self-determination. The timing of the campaign coincides with the early stages of mainstream cryptocurrency adoption.
Crypto.com CEO Kris Marzalek said, “This is our first branding campaign.” Adding: “We wanted to create a very powerful connection…Cryptocurrencies are less and less about trading and more about building the future of the internet.”
The CEO explained that partnerships with stars, such as Damon, are key to establishing the exchange’s brand and gaining recognition around the world.
On Monday, Crypto.com also announced that it would donate $1 million to Water.org, a nonprofit founded by Matt Damon. The exchange has previously expressed its commitment to addressing the climate crisis and has also pledged to be a carbon negative company by the end of 2022.
Crypto.com is following in the footsteps of other crypto companies, such as FTX. FTX pushed its own marketing campaign which included buying a Superbowl advertisement and using Tom Brady as a brand ambassador.