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Floki Inu, one of the rivals of Dogecoin, has resumed an aggressive marketing campaign. The memecoin is planning to plaster advertisements in London’s public transport places, including train stations and the city’s popular red buses.
Floki Inu resumes aggressive marketing
The Floki Inu team announced the resumption of an aggressive marketing campaign on April 23. The team published a blog saying that the memecoin would be featured on ads plastered on 100 city buses, while 203 posters would be put up on underground stations.
This is not the first aggressive marketing campaign made by Floki Inu. Towards the end of last year, the meme coin caused a stir with its public advertisements, triggering a proposal to ban all cryptocurrency advertisements.
Last year’s Floki Inu campaign featured signs that read, “Missed Doge? Get Floki.” Sian Berry, a London Assembly member, posted a tweet saying that cryptocurrencies were similar to gambling and should not be advertised in public places due to their risky nature.
Last year’s marketing campaign by Floki Inu triggered regulatory scrutiny, with the UK’s Advertising Standards Authority (ASA) banning the ad. The regulator said that the Floki Inu ads “exploited consumers’ fears of missing out, trivialized investment in cryptocurrency and took advantage of consumers’ inexperience.”
The Director of Marketing at Floki Inu, Sabre, has said that the team would not bow to the regulatory pressure. In the announcement, Sabre said that the new London marketing campaign would be even bigger than the first and that it would be a major win for Floki Inu.
“Some wanted us banned here entirely, and the anti-crypto agenda continues to come thick and fast through smear campaigns and misinformation. The Floki Team will always stand our ground no matter what,” the announcement added.
UK’s ASA bans crypto advertisements
The new marketing campaign by Floki Inu could violate the rules set in place by the ASA. In January this year, ASA announced a new set of bans targeting cryptocurrency firms advertising their services in the UK. The regulator said it had brought down two advertisements by the Crypto.com exchange promoting Bitcoin and yield programs. The ads failed to notify the target audience of the risk of partaking in these activities.
Last December, ASA blocked six cryptocurrency firms from advertising, saying they were taking advantage of naïve investors. The firms also failed to disclose the risks attributed to cryptocurrency investments.
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