Crypto.com taps Hollywood actor Matt Damon to attract new users

By Shaurya Malwa

Hollywood actor Matt Damon will join crypto services firm Crypto.com as a brand ambassador as the crypto exchange seeks to popularize its services among mainstream audiences in the US and beyond.

“We’re hoping this is the beginning of a great long-term collaboration.”

Matt Damon becomes the latest celebrity crypto backer https://t.co/NDUAQhs93e pic.twitter.com/oMrzef5Saw

— Bloomberg Crypto (@crypto) October 28, 2021

The move is part of a broader global marketing push for Crypto.com, which has grown its user base by ten times since 2020 amid rising interest in cryptocurrencies like Bitcoin.

Crypto.com will spend more than $100 million on the campaign, as ads starring Damon and directed by cinematographer Wally Pfister are to air in more than 20 countries.

“I’ve never done an endorsement like this,” said Damon in an interview. “We’re hoping this is the beginning of a great long-term collaboration.” Crypto.com has also brought on mixed-martial artist Ronda Rousey, basketball star Carmelo Anthony, and snowboarder Lindsey Jacobellis.

Despite the endorsement, Damon, who’s also an investor in Crypto.com, said he is rather conservative with his money and will typically “ride or die with the economy.”

Crypto.com is now linked with Formula 1, the Ultimate Fighting Championship, and Italy’s top soccer league. It also has dealt with French soccer club Paris Saint-Germain, the Philadelphia 76ers, the Montreal Canadiens, and Formula 1’s Aston Martin Cognizant.

Cryptocurrency platforms like Crypto.com, FTX, and Coinbase are pumping money into marketing this year as well as signing deals with sports leagues and teams. Celebrities like Tom Brady, Gisele Bundchen, and Amitabh Bachchan are getting involved as well, making their way through one endorsement or another.

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