Matt Damon and other celebrities may have to explain their recent endorsements.
Sometimes consumers get turned off by Hollywood celebrities like Matt Damon promoting their left-wing politics, but these days it’s not a candidate endorsement that’s creating ex-fans of the movie star. Weston Blasi at our corporate cousin MarketWatch recently noted:
Remember when Matt Damon told you, “Fortune favors the brave”?
Well, Twitter users do, and many of them are bringing up the viral Crypto.com ad, while prices for cryptocurrency like bitcoin and ether are slumping, and crypto exchange platforms like Coinbase are losing billions in market cap.
The commercial, which debuted on October 28, 2021 and was replayed again during the Super Bowl, has now been viewed 9 million times on Twitter and over 17 million times on YouTube . . .
Unfortunately, if you had purchased $1000 worth of bitcoin when the commercial debuted, your crypto value would be about $481 today.
Jeff Beer recently noted at Fast Company: