Eminem Steps In: Crypto.com’s New Face of Fortune
In 2021, crypto exchange Crypto.com invested heavily in advertising and generated excitement through new partnerships. A year later, Crypto.com bought an advertising slot during Super Bowl 2022 and took a break in 2023 due to the recession. Many collaborations with famous personalities are planned for 2024.
To represent the brand of the famous crypto exchange Crypto.com in a positive light from now on will be rapper Eminem. This was announced by the popular artist in social network X on April 26.
The first commercial featuring Eminem's voice was shown at the NBA playoff game between the Los Angeles Lakers and Denver Nuggets on April 27.
Earlier we wrote about actor Matt Damon, who took part in a Crypto.com commercial during the period when crypto flew into space, but at the same time was at the peak of volatility.
Damon featured in a Crypto.com commercial among historical figures such as Sir Edmund Hillary and the Wright brothers in a virtual world. The exchange, which at the time was among the cryptocurrency industry's fastest-growing businesses, established a number of sponsorship agreements, including the rebranding of Los Angeles' Staples Center as the Crypto.com Arena, which served as the setting for Eminem's video.
With the notable collapse of FTX and its former CEO Sam Bankman-Fried, the SEC's stepped-up enforcement actions against digital asset companies, and a significant market downturn in 2022, Eminem has emerged as the latest celebrity to publicly support cryptocurrencies in the US. In addition to releasing his NFT collection in 2021 and mentioning Bitcoin in a 2018 song, the rapper was a member of the Bored Ape Yacht Club and purchased NFT for $462,000 in 2021.
Numerous athletes and celebrities from Hollywood have appeared in well-known advertisements for crypto companies, only to later second-guess their choice. Damon stated he only did it to collect money for the clean water organization Water.org a year after the commercial aired. Comedian Larry David, who appeared in a 2022 Super Bowl commercial for the defunct cryptocurrency exchange FTX, subsequently called himself an "idiot" for taking such an ad.
For its part, Crypto.com encourages a lot of athletes to become ambassadors because it believes that "Fortune favors the brave," as stated in its advertisement. So, a few years ago, LeBron James and Crypto.com partnered to teach children about cryptocurrencies and how they impact their life. Experts from Crypto.com are guiding about 1,600 kids at the four-time NBA Champion's I Promise School as they learn about cryptocurrency literacy. The families of the pupils are included in the educational programs.
Social media users' reactions to Eminem's endorsement of cryptocurrencies have been conflicting. To better match the cryptocurrency sector, many individuals parodied the rapper's lyrics, creating lines like "Will the real Satoshi please stand up?" - Others wondered if his sponsorship would be more successful than Damon's. The release of the advertisement doesn't appear to have had any impact on the value of Cronos, Crypto.com's own coin.
Although it's too soon to tell how effective Eminem's campaign will be, viewers have appreciated Damon's advertisements in the past for encouraging them to invest in a very risky market. When he did his commercial, Bitcoin was valued at its highest point; a year later, it had dropped three times. Making an investment should involve careful consideration of all the intricacies and hazards, as well as meticulous decision-making. Prior to making any cryptocurrency investments, make sure you are knowledgeable on market trends and price forecasts.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
