Matt Damon’s infamous ‘Fortune Favors the Brave’ Super Bowl crypto ad is drawing heat to the actor as the crypto market plummets.

Matt Damon’s ‘Fortune Favors the Brave’ Super Bowl crypto ad is drawing backlash amidst the crash of the crypto market. People who invested at the behest of the Matt Damon fronted commercial, who compared summiting Mount Everest and landing on Mars to investing in cryptocurrency, are angry at the actor.

Investors aren’t the only ones who are expressing outrage, many people who advocate against cryptocurrencies are also pointing at the commercial and criticizing Matt Damon’s use of his celebrity status to shill a speculative asset for his own personal gain.

Twitter reacts

A number of people are comparing the price of Bitcoin at the time of the commercial airing to the low price it hit during the crash, doing the math to demonstrate to investors just how little Damon cared about people losing money on the crypto he was promoting.

What many people may be missing is that Matt Damon is only a marketing vector for a corporation— crypto.com, which is part of a larger industry full of manipulative and exploitative practices. Damon is by no means absolved, even if he feigns ignorance, but he is not the origin.

“To Matt Damon and Larry David, this was probably just a gig. We see celebrities making millions of endorsements. That does not mean they even like the product. So Matt Damon is not responsible for the crash of Bitcoin, any more than any other celebrity is responsible.”

“If you bought $ 1000 of a bitcoin ETF when Matt Damon’s “Fortune Favors the Brave!” Cryptocurrency ad premiered on October 28 last year, you would now have $ 554.”

“This bitcoin EFT fell even further during the rest of today. Now if you’d bought $1000 when Matt Damon’s “Fortune Favors the Brave!” crypto ad premiered, you’d have $476.”

Some users also took to pointing out the environmental impact of mining coins and more specifically, Bitcoin. The total energy consumption of mining Bitcoin is over the amount that Norway uses in total as a country, and the amount of energy BTC is using is only increasing.

The problem with Bitcoin mining is that it uses the ‘proof of work’ mechanism of mining, meaning that users need to solve complex mathematical problems to mine more, requiring more intense processing power as the problems increase in complexity, which means more energy consumption.

The mechanism isn’t sustainable in the slightest, as the more BTC that is mined, the more competition there is and the more complex the problems become.

On top of this, the amount that you get from a successful Bitcoin unlock is halved every four years, meaning the difficulty will exponentially increase into the future as will the amount of energy required.

“Crypto is doing wonders for his international water charity concerns too. What with the energy/water/food nexus being further stressed by his magic internet money’s insane power demands.”

“Ben McKenzie may be best known to television fans as the star of hit shows such as “The O.C.” and “Southland.” But the actor and econ major has more recently become an outspoken critic and skeptic of the burgeoning world of cryptocurrency”

“Matt Damon went from quoting Howard Zinn in his writing to participating in capitalist scams. Becoming incredibly wealthy can really fuck you up.”

https://twitter.com/AnarchoPigeon/status/1524765711750426624?s=20&t=u7xNx0xG2mI82s4oR2W3Lg

“i saw the crypto dot com super bowl commercial and thought’i wanna be like matt damon’ and now im losing my house”

https://twitter.com/proudbugman/status/1524778715967799297?s=20&t=u7xNx0xG2mI82s4oR2W3Lg

“Thinking about the obscene amounts of money celebs like Matt Damon must’ve made during the pandemic — one of the largest upward transfers of wealth in decades — and how they still chose to hawk crypto”

“Matt Damon isn’t sweating that Super Bowl ad urging you to invest in crypto –after all, Matt got paid in good old fashioned US dollars.”

https://twitter.com/themaxburns/status/1524768010216644610?s=20&t=u7xNx0xG2mI82s4oR2W3Lg

“Fond memories of Matt Damon comparing investing in crypto to inventing airplanes and landing on the moon. #Cryptocrash“

https://twitter.com/D_Khunne/status/1524478484998987780?s=20&t=u7xNx0xG2mI82s4oR2W3Lg

“When Matt Damon said “fortune favors the brave” and stared out at Mars with the logo of crypto dot com over it what was the implication, that crypto would propel humanity to Mars? Or to simply ad romantic sheen to what is basically pure macho- baiting financial speculation”

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