On the 12th of January 2022, actor Reese Witherspoon tweeted “In the (near) future, every person will have a parallel digital identity. Avatars, crypto wallets, digital goods will be the norm. Are you planning for this?” Whilst not an explicit advertisement partnership with a certain cryptocurrency, Witherspoon’s tweet was a clear endorsement of the crypto sphere, NFTs, and the wider metaverse as a whole. Many new cryptocurrencies will hope to capitalize on these endorsements in 2022, including Seesaw Protocol (SSW).
This somewhat bizarrely timed statement comes days after Matt Damon joined forces with crypto.com (and by extension, their native token CRO) to advertise the cryptocurrency listing platform. In a TV spot that has garnered more than its fair share of criticism, Damon states: “History is filled with almosts – with those who almost adventured, who almost achieved…then, there are others – the ones who embrace the moment and commit. Fortune favors the brave.”
Damon’s appearance in the world of cryptocurrency is just the latest in a long line of endorsements and collaborations. Perhaps the most famous endorsement of a cryptocurrency by a public figure is Elon Musk and Dogecoin (DOGE). The Tesla founder has long had an affinity with Dogecoin, and as recently as December 2021 tweeted that “Tesla will make some mercy buyable with DOGE and see how it goes.” Almost every time Musk has tweeted about or publicly talked about Dogecoin the price has gone up.
Cryptocurrency Advertising
Matt Damon’s partnership with crypto.com has not yielded similar results for CRO, or the site itself. Total site visits are down, and CRO has dipped as much as 16% over the last 7 days. The campaign with Damon comes shortly after crypto.com signed a 20-year deal to rename The Staples Center in Los Angeles The Crypto.com Arena, for which they paid over $700m.
Floki Inu (FLOKI) has also spent a considerable amount to advertise on the London Underground and around 300 London buses. The creators behind FLOKI have also signed a contract to appear on several billboards around LA. US cable and Facebook ads have also appeared throughout the end of 2021. From the emergence of this viral advertising campaign, FLOKI increased by over 600%.
Seesaw Protocol Presale Attempts to Avoid Pitfalls of Crypto Advertising
Seesaw Protocol (SSW) is one of the most notable new cryptocurrencies launching in 2022, and as with the coins discussed above, advertising will play a huge part in its success. SSW will attempt to avoid the actions of EthereumMAX (EMAX). EMAX claimed to be a disruptive new cryptocurrency and partnered with notable celebrities like Floyd Mayweather and Kim Kardashian.
These celebrities have been sued in California, with a class-action lawsuit being filed on January the 7th 2022. The lawsuit accuses EMAX and its creators of engineering a ‘pump and dump’ scheme, where they use celebrity endorsements and viral advertising to quickly pump the price of their cryptocurrency, and then sell, or dump, the large amounts of the asset that they own for a large profit. EthereumMAX’s creators have denied the charges.
The utility of Seesaw Protocol speaks for itself, despite the need for advertising. SSW will act as a bridge between blockchains, and allow its users to conduct cross-chain swaps and transactions using Polygon (POLY), Ethereum (ETH), and Binance Smart Chain. The 3% buy fee and 5% sell fee that comes with Seesaw Protocol (SSW) will prove to be beneficial to its holders. The buy fee is distributed amongst existing investors, and the selling fee is paired with BNB and added to liquidity on PancakeSwap.
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