cryptocurrency

Crypto commercials are starting to decline

Many reports show that encrypted TV ads Begin to disappear or die lowest. What was once a fairly prominent affair (creating crypto commercials) is now almost or unimportant to many media companies.

Crypto ads are fading away

Cryptocurrencies have come under a lot of criticism in recent months. Right now, space is doing terribly when it comes to pricing, which may be one of the reasons why a lot of TV ads don’t make their way to the small screen. Companies may not see their value anymore as with lower prices as they are, people are less likely to invest. Thus, they do not want to spend money and not see any return.

Bitcoin, for example, was trading at a new all-time high of around $68,000 per unit in November of last year, but now — just ten months later — the coin is doing everything it can to hold a position in the low $20,000 range. The space lost more than $2 trillion in total valuation. It’s an ugly sad sight, and many analysts don’t see an end in sight (at least not in 2022).

However, while it is easy to assume that prices are the only factors contributing to the lack of advertising, it can also be argued that the backlash and negative attention that previous crypto ads have received has caused many media companies to scrap creating more in the future.

For example, many crypto commercials featured prominently during events such as the Super Bowl during the first half of the year. One such ad starred Larry David of Curb Your Enthusiasm fame. The commercial was for the FTX bull market run by Sam Bankman-Fried, and a lot of people really rubbed it the wrong way, with many stating on social media that celebrity involvement in cryptocurrency was either cliched or not a good idea.

Many questioned the motives of celebrities who expressed their support for cryptocurrencies, claiming that they were only in it for the money and were simply guiding people toward a particular future or outcome because they were getting paid to do so.

Not everyone liked the past

But while the commercial with Larry David may not be popular, that was nothing compared to the backlash delivered to several commercials featuring Academy Award winner Matt Damon for Crypto.com. Damon can often be seen in these ads taking people through important points in history such as the 1969 moon landing. From there, he told viewers that fortune “favored the bold.” This was followed by the appearance of the Crypto.com logo on the screen.

This infuriated many people who claimed that the commercial was saying that they would not have been brave if they weren’t going to spend all their money in the cryptocurrency arena.

Tags: commercials, crypto, larry david

#Crypto #commercials #starting #decline

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