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South Park mocks celebrities who promoted cryptocurrencies

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Once again the US satire series South Park has poked fun at cryptocurrencies. This time, an episode that aired on Tuesday night mocked some celebrities who have promoted digital assets or crypto companies recently.

Among the “targets” of the cartoon are Matt Damon, Gwyneth Paltrow, Larry David, Naomi Osaka and Reese Witherspoon.

In the episode, the celebrities promote a new “promising” product, the “Pee Pee Water”, or “pee water”, in free translation.

A character who introduces himself as Matt Damon says:

“Urine can be used for almost anything. We can water our lawns with it. We can also use urine for bath water.”

In addition, the character grudgingly ingests food and drinks prepared with “Pee Pee Water” instead of water. At the same time as he eats and drinks, he babbles and “encourages” himself with the slogan “fortune favors the brave”.

The “Fortune Favors the Brave” campaign, in the original, was an action by the cryptocurrency exchange that had the participation of Hollywood actor Matt Damon.

As reported by CriptoFácil, the ad campaign in question, worth US$100 million, was launched in October last year and broadcast in more than 20 countries for several months.

At the time, cryptocurrencies were in an uptrend. BTC and ETH, for example, were about to record their all-time highs in price.

Other celebrities mocked by South Park

Cartoon characters portraying Gwyneth Paltrow, Larry David, Naomi Osaka and Reese Witherspoon also appear in the episode promoting “Pee Pee Water”.

Actress Gwyneth Paltrow, for example, has long been a crypto enthusiast. In 2017, she became an advisor to Abra, a startup focused on global resource transfer via blockchain.

Furthermore, in April of this year, she was one of the celebrities to invest in the cryptocurrency company MoonPay through her company Kinship Ventures.

She joined celebrities such as singer Justin Bieber, rapper Snoop Dogg, tennis player Maria Sharapova, actor Bruce Willis and rapper Drake in an investment round.

Larry David promoted crypto exchange FTX in a commercial that aired in the NFL Championship Finals. Reese Witherspoon, from the hits Legally Blonde and Good Morning Show, announced in February this year a TV series on NFT.

Crypto industry cuts ad spend by 90%

The debauchery over promoting cryptocurrencies or crypto companies comes at a bearish time for digital assets.

The general downturn in the crypto market has forced companies to make mass layoffs and significantly reduce their investments in ads and sponsorships.

According to data from analytics firm Sensor Tower, cryptocurrency marketing has collapsed since November 2022. In fact, ad spend has dropped by around 90% since then.

Party is over: Crisis on NFT market

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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