‘Old money is broke’: Spike Lee promotes crypto in new ad
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The US director of BlacKkKlansman and Do The Right Thing, Spike Lee, is telling the world to DYOR (“do your own research”) in an ad he’s made for Coin Cloud, a US cryptocurrency ATM provider.
The commercial, titled “The Currency of Currency”, launched online overnight across YouTube and reddit, attracting a good amount of cryptoverse buzz as well as the odd quizzical reaction from “nocoiners”. It portrays crypto as a “digital rebellion” and “new money” that’s inclusive, fluid, powerful and positive.
Resembling a cross between a barbershop quartet, a tartan rug and a pimp, the 64-year-old Oscar-winning filmmaker directed and starred in the ad, which was created with New York ad agency Campbell Ewald.
It also features appearances from actor/activist Kendrick Sampson, singer Teyana Taylor, actress/singer MJ Rodriguez and Ru Paul’s Drag Race contestant Shangela.
NEW: First look at Spike Lee's Bitcoin commercial
“Old money is not going to pick us up – it pushes us down, exploits, and systematically oppresses. The digital rebellion is here. Old money is OUT, new money is IN." pic.twitter.com/eD1nCenXBX
— Yano (@JasonYanowitz) July 14, 2021
The commercial, filmed on Wall Street in NYC, received mixed reactions within the cryptoverse. Prominent “Bitcoin maxi” Peter McCormack, for instance, felt the ad could’ve done with a bit more clarity. In other words, perhaps the ad should’ve been called “Just buy Bitcoin”.
Others disagreed, and felt the commercial and its messaging was a good way to give crypto some positive mainstream exposure.
I actually don’t know what it’s trying to advertise. A crypto ATM? You don’t need Spike Lee for that, you’ve paid for a category ad without telling people what the category is about.
— Peter McCormack (@PeterMcCormack) July 14, 2021
It seems very clear to me! You are telling you that the old money is dead and that thanks to their ATM, the old FIAT coin will disappear, in one frame you can clearly see a Bitcoin QR Code. It is a very elegant way of presenting cryptocurrencies.
— BaffItaly (@BaffItaly) July 14, 2021
In a press statement today, Coin Cloud said it chose the film director specifically for the campaign to “spark important dialogue” and for his expertise in exploring social issues.
As for Spike Lee, he seems determined to avoid another golden opportunity from slipping through his fingers, having missed out on the financial opportunity of a lifetime… Crocs.
The filmmaker revealed to The New York Times he was kicking himself (with a less comfortable shoe, presumably) for turning down an offer to buy into the US footwear company several years ago.
“I wish I would’ve given some money back then,” Lee said in an interview. “Anytime something is new, you’re going to have people who are going to be sceptical. With some of the best ideas, people thought the inventors were crazy.”