Canada Markets close in 49 mins

Crypto.com Looks to Cash In on Bull Market With $100M Advertising Campaign

·1 min read

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.”

Read more: FTX Scores Another Sports Sponsorship With Super Bowl Ad

UPDATE (OCT. 28, 13:19): Changes photo.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting