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Highlights
- London was taken by storm when ads of meme-based coin Floki appeared on the London’s transportation networks.
- Till now, the FCA hasn’t objected to the promotions.
- Floki Inu promoters have decided to organise more such ads along with billboard advertisements in the US, China, Russia, and Japan.
After raising a storm in the crypto market, it seems Floki is trying to attract more investors by putting up visual advertisements. London was taken by storm when advertisements of meme-based coin Floki appeared on its various transportation networks and junctions. Floki Inu ads were put up with a simple tagline: “Missed Doge? Get Floki”.
The branding campaign has been put forward in a bid to legitimise the coin and increase investors’ confidence. Earlier, Medium had said that Floki Inu’s promotion campaign will run for a month. Similar campaigns have been introduced in the U.S., China, Russia and Japan. In return, many citizens have started posting and tweeting its pictures on social media giving the campaign a major push.
Can FCA ban crypto ads?
With such a barrage of crypto ads all around, many have been raising questions about the legitimacy of such ads. In the past, the UK Financial Conduct Authority (FCA) has taken strict action on misleading crypto ads. But there is no particular charter to what is allowed and what is not.
Earlier, in May, a similar ad campaign in the UK to buy bitcoin was banned by FCA, where it said the ad is misleading. In May, crypto Luno had put up an advertisement, “If you’re seeing Bitcoin on the Underground, it’s time to buy”
Also read: Why Shiba, Floki are more than just meme coins
The Advertising Standards Agency (ASA) of the US suggested that the ads were giving the impression that bitcoin investment was straightforward and accessible. Hence, it concluded that it should be stopped. Luno agreed that in future it would carry ads in a different format, and would take risk-warning measures for the investors.
In other countries, Google initially banned crypto ads. But later reversed its decision and allowed crypto ads again. SEC regulators have been on the forefront urging investors not to get swayed away by such promotional ads as these could be frauds, scams, and abuse of any kind.
Also read: Why Scallop (SCLP) crypto is so unique for UK citizens
How is Floki doing?
Floki is continuing on the trend of meme-based coins faring well in the market. On Friday, Floki was trading at US$0.000249 with a 24-hour trading volume of US$24,28,11,349. FLOKI was up by 88.49% in the last 24 hours with a 24-hour volume of US$245,211,759.
Conclusion
Floki ad does seem to have invigorated interest in the coin globally. Floki is giving good competition to the other meme-based currencies.
Did Musk lead the Floki ad? It doesn’t look like that. It’s more of a Floki marketing team campaign. But this marketing push would help the Floki coin immensely and support its performance in the market.
