Hollywood star Matt Damon has exposed the motive behind his involvement in a cryptocurrency commercial called “Fortune Favors the Brave” with Crypto.com. The ad caused a stir globally when it was released and Matt faced a lot of criticism.
Matt Damon Discloses the Story Behind Crypto Commercial
Matt Damon, the Oscar-winning actor and producer, revealed the story of his involvement in a cryptocurrency advertisement with the crypto exchange platform Crypto.com in an interview with the Associated Press on Wednesday. The actor is widely renowned for his roles in movies such as Good Will Hunting, Saving Private Ryan, and the Bourne franchise.
“The story behind that for me personally was that we had a down year in Water.org, and I did that commercial in an attempt to raise money for Water.org,” Damon said, continuing:
I gave my whole salary to Water.org because we were down. 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 and for what they did for our foundation.
Water.org is a global nonprofit organization co-founded by Damon that strives to provide safe water and sanitation to people in need.
Crypto.com released the “Fortune Favors the Brave” ad featuring Damon in October 2021. It was directed by Oscar-winner Wally Pfister.
However, the commercial received a lot of criticism. While some people asserted that the advertisement was deceptive, as it portrayed cryptocurrency as a secure and simple way to make money, others scolded it for promoting investment in an unstable and unregulated market. In addition, some individuals speculated that Damon’s involvement in the ad was only to make a profit and that he did not truly believe in the advantages of cryptocurrency.
A number of cryptocurrency firms heavily promoted their businesses in 2021 and 2022. Crypto companies spent a combined $39 million buying Super Bowl spots in 2022, according to data consulting firm Kantar. Among the crypto firms with a commercial featuring celebrities was the now-defunct crypto exchange FTX whose ad featured Tom Brady and Gisele Bündchen.
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