The 51-year-old actor made the questionable decision last October to become the face of Crypto.com. In the flashy commercial, which was aired during NFL playoff games and the Super Bowl earlier this year, he encourages people to invest in cryptocurrency.
Matt hails people's investment in cryptocurrency as the next great human endeavor, as historically game-changing as the Wright Brothers inventing human flight or astronauts landing on the moon. At the end of the ad, he walks up to a window overlooking Mars. "Fortune favors the brave," he says before a Crypto.com logo appears on the screen.
After the crypto market crashed, losing $200 billion in a single day and almost $1 trillion worth of value in a month, many social media users mocked Matt. "Just buying one more zoo and then I'll stop taking my financial advice from Matt Damon," tweeted one person.
A separate Twitter user said, "Matt Damon's crypto shill ad should've been called Bourne Yesterday." Someone else quipped, "Remember that Super Bowl commercial where Matt Damon convinced me that 'Fortune Favors the Brave' and I put my life savings in crypto? Yeah good times. Anyways, not that it matters but, how much can you get for a kidney?"
"That's what you get for taking investment advice from a TV ad starring Matt Damon," another person penned. Meanwhile, another wondered "who's gonna play Matt Damon in the movie about the Bitcoin collapse."
Since the ad first aired, it had been widely ridiculed. At the time, many critics dubbed the commercial "cringe." One social media user turned to Twitter, writing, "These Matt Damon crypto commercials are cringe beyond belief."
"Are you going to put your life savings into the pretend computer dog money that you can't spend or are you a p***y?" one paraphrased Matt's line in the ad. Another summarized, "You may be zoned out during commercials and not have noticed, but there's an ad with Matt Damon that likens trading cryptocurrency to climbing a mountain and being an astronaut."