Floki Inu is trying its hand at advertising in London again, will this lead to the ban of the coin?
The Floki Inu price has risen as meme coins rebound in the past two days. FLOKI is trading at US$0.00002365, which is slightly above this week’s low of US$0.000020. This price is about 93% below the highest point level in 2021. In the past few months, Floki Inu has expanded its ecosystem as it seeks to bring more utility to the network. For example, it has announced that it will launch Valhalla, a play-to-earn NFT metaverse game. Also, it will launch Floki Places, where people can mint and trade their NFTs.
Further, Floki Inu is trying its hand at advertising in the UK capital again after its last campaign ended in a ban by the country’s regulators. Popular meme coin and Dogecoin rival Floki Inu have launched a marketing campaign in London with ads spanning buses and train stations across the UK’s capital city. UK politicians say cryptocurrency is ‘not an investment. However, Sabre, the pseudonymous moniker for Floki Inu’s Director of Marketing emphasized in the announcement that the team has no intentions of standing down despite the regulatory pushback.
“In a sense, this second London campaign is an even bigger win for Floki and the crypto industry as a whole than the first, as our team has fought for the right to advertise our groundbreaking project to the public.”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,” they added.
The previous ad campaign launched in October 2021 ran for about two months and was scrutinized by the UK’s Advertising Standards Authority (ASA). The ad industry regulator said in November 2021, when the campaign was still running, it had received complaints about the ads not conforming with the rules and began an investigation. Earlier this year in January, the ASA continued advertising in the UK. The regulator halted two advertisements from Crypto.com which promoted the ease of purchasing Bitcoin and earning yield rewards as they did not state the risk of the investment. In mid-December 2021, six crypto firms were hit with ad bans by the ASA for “taking advantage of consumers’ inexperience” and also failing to demonstrate the risk of crypto investing.
The new campaign for the meme coin comes after a similar marketing blitz late in 2021 which caused a stir with London Assembly member Sian Berry, who sought to ban all cryptocurrency advertisements on the city’s rail and bus networks. FLOKI’s last campaign featured signs which read “Missed Doge? Get Floki.” In November, Berry posted a tweet likening cryptocurrencies to gambling, adding that public services should not advertise “risky” schemes.
The Floki Inu team announced the new ads on Twitter on April 23, followed by a corporate blog on Medium. “First London campaign of 22 will kick off 25th of April! This campaign will take over London with 100 bus campaigns and cover The London Underground,” the tweet informed. This is leading to a downward trend in Floki price in the past few weeks.