Does Hollywood embrace crypto? An examination
While the relationship between Hollywood and crypto isn’t tight, cryptocurrencies are gradually becoming a bigger part of people’s lives, and hence also appearing in the glamorous world of Hollywood. Today more and more UK residents own crypto and an even higher rate, around 93% have at least an awareness of crypto.
Tools like exchange platforms and hot wallets are making crypto much more accessible to not just tech-savvy users, but also the general public. The best crypto wallets in the UK can easily be used by anyone, owing to user-friendly sites, ease of use, and multifunctional (send, receive, convert, invest) nature of the platforms.
And now the blurring of lines between the mainstream world and cryptocurrencies is happening quickly. Crypto has more than dipped its toes into the entertainment world: Crypto.com and Hollywood.com just recently launched entertainment-focused prediction markets in North America. Fans will be able to both trade opinions and invest in crypto coins.
Long before this, Hollywood has portrayed crypto in movies and TV, often in a negative light. Associations have mainly been through gangsters, criminals and fraudsters, such as the movie Crypto (2019), a crime thriller where a cryptocurrency scheme connected to the Russian mafia is unveiled.
Most portrayals tend to portray crypto as risky, shady and criminal.
Part of the negative connotation may die down as crypto becomes a more accepted part of life. Just as computer systems were often portrayed in early movies as mostly a means of hacking and gaining unauthorised access, owing largely to the new magic that had just been introduced into society. While there are still plenty of hacking portrayals in modern Hollywood, computers are now increasingly portrayed simply as tools in everyday life, used for both good and bad.
It’s also important to remember that crime is simply a huge genre in Hollywood and beloved by people globally. Realistic or not, it’s exciting! Besides crime directly, action, thriller, drama and horror remain some of the most popular genres globally.
But what of the Hollywood stars themselves? Many of them have long since been backing crypto. Matt Damon is one prominent example, and Ryan Reynolds has called crypto an emerging “huge player.” Ashton Kutcher, Jamie Foxx and Paris Hilton are other important names in the space between crypto and pop culture.
While many Hollywood actors and actresses have a genuine interest in crypto and its future, some work together for sponsorship reasons, and that’s something that’s important to keep in mind for anyone affected by publicly stated opinions.
In any case, each individual has to make their own judgment about crypto and its legitimacy in the society. There is no question that cryptocurrency has found practical value in the form of digital payments, but as with any new technology, it’s shrouded in mystery and hence often either hardly denounced or blindly praised. Historically, there have been both massive crypto growth and individuals experiencing enormous losses.
Looking at crypto through the lens of entertainment is fun, but it shouldn’t serve as a replacement for an education about the value of any important technology. For those wanting to learn about crypto, there are better ways than looking for on-screen portrayals of it.
The editorial unit
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