American rapper Eminem, known for his lyrical prowess, has joined the ranks of celebrities endorsing cryptocurrency exchange Crypto.com. In an April 26 post on X, Eminem unveiled an ad spot featuring a boxing training montage intertwined with crypto terminology, including “proof-of-work” and Crypto.com’s slogan “fortune favors the brave.”
Eminem’s endorsement marks one of the first major celebrity promotions for Crypto.com since actor Matt Damon’s ad spot in October 2021. The terms of Eminem’s collaboration with the cryptocurrency exchange remain undisclosed, amidst a backdrop of market turbulence and increased regulatory scrutiny in the digital asset space.
Eminem’s venture into crypto advertising follows his previous involvement in the Bored Ape Yacht Club, where he acquired a nonfungible token (NFT) for $462,000 in 2021. Notably, Damon’s Crypto.com ad spot featured historical figures within a digital landscape, coinciding with the exchange’s rapid growth and numerous sponsorship deals.
The trend of Hollywood celebrities and sports stars endorsing crypto firms has generated mixed reactions. While Damon later clarified that his involvement was for charitable purposes, comedian Larry David expressed regret over his appearance in a Super Bowl ad for now-defunct crypto exchange FTX.
Social media reactions to Eminem’s crypto endorsement varied, with some users crafting crypto-themed parodies of the rapper’s lyrics. However, the price of Crypto.com’s native token, Cronos (CRO), appeared unaffected by the release of the ad spot, signaling a measured response from the market.
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