Ryan Reynolds, best known for his role in the film Deadpool, recently spoke about cryptocurrency and its potential. He recognizes the importance in the crypto dialogue they’re having and applauds crypto entrepreneurs for safely bringing crypto into the mainstream.
“Ninety percent of the word crypto is crypt,” Reynolds said, adding that it was possible that people were terrified by it before crypto firms made it mainstream. “But I think it’s emerging as a massive, huge factor… it’s been emerging as a huge player for a long time,” says the Hollywood star.
Celebrities favoring cryptocurrency, according to Reynolds
Reynolds sees celebrities appearing in crypto marketing as more than just celebrities jumping on the crypto bandwagon. “You know, I simply see that as great enterprise organizations attempting to carve out a niche in their zeitgeist.” Using celebrities is sometimes a terrific way to do it, and other times it is a terrible way to do it.”
Reynolds enthused over the Coinbase QR code advertisement, calling it “awesome.” When consumers scanned the QR code, they were sent to an offer for $15 in free bitcoin if they signed up. “Too much time and too much money are the biggest hurdles to creativity,” the actor says, referring to the slew of innovative crypto advertisements that aired during Super Bowl LVI. In an advertisement, he feels that character always triumphs over spectacle. He believes that, for the most part, crypto firms and celebrities are doing a good job. He also believes that cryptocurrency is here to stay.
The crypto industry’s campaign for celebrity endorsements has certainly included Bitcoin.com’s Matt Damon ad, which equates investing in crypto to climbing Mount Everest or touring space. Hollywood stars, on the other hand, can lose a much less percentage of their entire fortune than the average Joe. The risks associated with crypto, according to Nobel Laureate Paul Krugman, fall disproportionately on people who are naive and may not be able to recover from losses. Ben McKenzie, an actor, is working on a book with journalist Jacob Silverman exploring the ethical implications of celebrities advocating Bitcoin.
Reynolds on the advertising industry
MNTN, an advertising firm, employs Reynolds as its chief creative officer. Last year, MNTN acquired Reynolds’ company, Maximum Effort Marketing. Ads, according to Reynolds, are designed to be fun. He was particularly taken with the Crypto.com ad featuring LeBron James.