Spike Lee, Other Celebs Help Demystify Cryptocurrency in Series of Commercials

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Photo Credit: CoinDesk

Edited by: TJVNews.com

Now that the term “cryptocurrency” has become part of our vernacular, companies that are trying to publicize the new form of payment have enlisted the assistance of high profile personalities and celebrities of all stripes.

The New York Times recently reported that filmmaker agreed  to direct and star in a television commercial for Coin Cloud, a company that makes kiosks for buying and selling Bitcoin and other virtual currencies. Although cryptocurrency is not widely used for transactions, an increasing number of merchants now accept it as payment.

The Times reported that the commercial was shot last month and represents a marketing trend that is focused on broadening the appeal of cryptocurrency which can intimidate people who are accustomed to using cash and credit cards for various purchases,

Also appearing in these commercials with Lee are a diverse cast, according to the NYT report. The others include Lee’s daughter Satchel, the “Pose” actress Mj Rodriguez and the drag queen Shangela.

Lee was seen filming the commercials on Wall Street and other locations around New York City where the commercial was filmed include  Fort Greene Park and the Chillin’ Bar and Grill in Washington Heights, according to the New York Times report.

The Times reported that Lee says in the commercial that the “digital rebellion is here” and that “old money is not going to pick us up; it pushes us down.” The commercial portrays the cryptocurrency system as a more accessible and equitable alternative to traditional, discriminatory financial institutions, as was reported by the Times.

Not only is cryptocurrency intimidating to the general public who has yet to be really exposed to it, but investors have also shown concern about its extreme volatility and the “overwhelming number of virtual alternatives, known as coins,” according to the Times report.

Cryptocurrency marketing thus far has only made its way to trade websites and targeted audiences on social media.  The cryptocurrency industry is hoping that having celebrities pitch their product might be helpful in demystifying it for the general public.

The Times reported that others such as actor Alec Baldwin appeared in a series of online ads for the crypto trading platform eToro. In addition, the Times reported that the National Football League star Tom Brady signed on as a brand ambassador for FTX, a crypto exchange that also has a deal to sponsor Major League Baseball.

Also appearing in a cryptocurrency commercial is actor TV actor Neil Patrick Harris (Doogie Houser) who helped promote the digital currency kiosk operator CoinFlip. “Now anyone, anywhere, can turn cash into crypto!” he declares.