Will ASA take strict action against FLOKI ads again?

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Will ASA take strict action against FLOKI ads again?

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 Will ASA take strict action against FLOKI ads again?
Image source: © Arif77shine | Megapixl.com - Floki

Highlights

  • Recently, FLOKI has decided to resume its ad blitz in London, once again raising questions about its legality.
  • In a tweet, Floki said it would be launching its “new and aggressive” ad campaign within London and displaying them on the side of 100 buses and other areas.
  • In February, UK’s Advertising Standards Authority (ASA) accused FLOKI of irresponsible advertising behaviour.

Floki Inu is back again and is planning to launch its “new and aggressive” ad campaign in London on a mass scale. This is after the Advertising Standards Authority (ASA), UK's independent advertising regulator, accused the crypto project of showing irresponsible advertising standards in February. 

Last November, Floki Inu ads were displayed on the London Underground, which garnered a lot of attention, making the crypto price rise. In February, ASA criticised FLOKI for exploiting consumers' sentiments and their lack of experience in the crypto market.

Also read: What is making Steem (STEEM) crypto rally?

The new ad

As per news reports, FLOKI has decided to resume its ad blitz in London. Floki, in a tweet on 25 April, said it would be launching its 'new and aggressive' ad campaign, displaying them on the side of 100 buses and in form of 203 posters in London. The project has decided to use the tagline, 'These ads will be seen tens of millions of times! Get ready for impact'

The last Floki Inu ad had raised a storm in the London transport system with passengers tweeting pictures of it. The new ad’s display plan looks similar to the November one which failed. 

Sabre, the pseudonymous moniker for Floki Inu's director of marketing, said that those who want to get such ads banned are anti-crypto, and the release of the second FLOKI ad is a big win for them and the crypto industry. Further, he said that the FLOKI team would continue with its efforts with its crypto ads. 

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ASA's reservations  

In February, the ASA had held Floki Inu responsible for taking advantage of the FOMO factor of the investors. The ASA had explicitly instructed the Floki Inu team not to produce the ad in the same form. 

ASA has been strict on crypto firms and exchanges, making sure that they adhere to the rules of responsible advertising. In fact, in December 2021, ASA banned six exchanges for taking advantage of consumers' inexperience and for failing to demonstrate the risk involved with crypto assets.

So, with another ad appearing in the relatively same form, it will be interesting to see ASA's action against the FLOKI team this time. Also, with the crypto marketing coming under the Financial Conduct Authority's purview, it does seem that FLOKI is treading into dangerous waters and could land in trouble again. 

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