Some celeb endorsements of cryptocurrencies have run into bother. In 2017, the Securities and Alternate Fee cautioned that some well-known individuals have been hyping the digital foreign money gross sales generally known as initial coin offerings with out disclosing that they’d been paid to advertise them. The fee has since settled charges in opposition to the boxer Floyd Mayweather Jr., the music producer DJ Khaled and the actor Steven Seagal.
Coin Cloud’s chief advertising and marketing officer, Amondo Redmond, mentioned he hoped Mr. Lee’s stature would assist elevate the business by delivering one thing “extra than simply cool artistic, however that’s actually on the forefront of digital foreign money changing into mainstream.”
“It’s extra than simply including a star face,” he mentioned.
Mr. Lee, who gained an Oscar in 2019 in the most effective tailored screenplay class for “BlacKkKlansman,” has labored on advertisements for Capital One, Uber and, most famously, Nike. Within the Eighties and Nineties, he directed and starred in commercials for Air Jordans, taking part in his cinematic alter ego Mars Blackmon reverse Michael Jordan.
“That was lightning in a bottle,” Mr. Lee mentioned from a flight sure for the Cannes Movie Competition, the place he’s the primary Black particular person to steer the competition jury.
He declined to say how a lot he had been paid for the Coin Cloud industrial, however famous that “if anybody’s recognized my physique of labor during the last 4 a long time, you form of learn about the way in which I see the world, and once they approached me, it slot in line.”
Because the coronavirus pandemic continues to spotlight financial disadvantages for individuals of colour, Mr. Lee hopes to advertise cryptocurrency as impartial to race, gender, age and different figuring out traits.