Matt Damon's crypto advertising is more than terrifying

"The story is full of Fasts - with those who almost dared to adventure who have almost made it," says a black -clad Matt Damon in the camera, while strolling through a virtual "museum of bravery" that shows a number of milestones of human achievements. "Then there are others - those who take on the moment and get involved," he continues, while he is walking past a climber. The video clip ends with Damon tells us: "The luck favors the brave."

This could be an advertising video for all sorts of things-a new film trailer from the Bourne franchise in which the actor plays along; an advertisement for an outdoor clothing brand that has a lot of money left; Even a recruitment campaign for the armed forces or another activity that requires a certain degree of courage. But it's none of it. After Damon's serious handover of his last line, what he sells is finally revealed: Crypto.com.

The advertising for the crypto and NFT platform, which was first broadcast in October, but has become viral in the past few days after it has been shown on Sunday during an NFL game. The Internet judgment seems to be quite unanimous: the ad is "ridiculous"; "Quickly flinch"; "Terrifying" - you get the idea.

and rightly so. Some of the greatest human achievements in history to equate the purchase of string from digital ones and zeros that represent crypto tokens or NFTS bored monkeys is ridiculous, as is the idea that this should be considered courageous (fooling head is something completely different). But the advertisement is more than ridiculous-it has some grotesque to see a man whose net value recently estimated at $ 170 million, for a platform that already earns so much money that it can afford to issue $ 700 million for the rebranding of Los Angeles' Staples as Crypto.com Arena.

You should always be careful to “call the top” in every market - especially crypto. There are no series of fundamental factors on the basis of which you can assess whether the prices are too high or too low; It is a market whose main driver seems to be what Elon Musk recently decided to tweet; One of the most important components is based on a joke dog mem. But the counter reaction that the ad has provoked feels like a symptom for a market that has lost some of its sparkling wine. Bitcoin deals with the $ 46,000 mark after it has lost a third of its value since a record high in November; Dogecoin has lost almost four fifths of his value since last May.

The less enthusiastic reaction to the advertisement indicates that the mood has changed since the exuberance of 2021 when the "LOL" factor seemed to become a real market driver. There also seems to be a growing realization that the cryptomarkt . This idea has now spread so widely that crypto types have even started to defend the idea of ​​this schemata. "Join a pyramid. It is not a bubble unless she bursts," wrote a crypto blogger last month in a post entitled "In Praise of Ponzis".