After a two-month-long hiatus, Floki Inu (FLOKI) advertisements are back on the streets of London. The memecoin found itself in a bit of a predicament with its “MISSED DOGE? GET FLOKI” campaigns. The slogans landed Floki Inu (FLOKI) in a tussle with the Advertising Standards Authority (ASA).
The memecoin claims that its posters will appear on 100 buses on London streets and 203 placements across the London Underground. However, because of their previous misadventures with the ASA, and new advertising regulations, the project’s campaigns are required to be a little ambiguous.
Speaking with CoinMarketCap, a team member from Floki Inu said,
“Floki is very particular about being compliant and working with regulatory bodies to ensure that our ads are in accordance with the law. The last campaign we did which generated a lot of controversy got every necessary clearance and approval from relevant bodies before it went. It wouldn’t have run otherwise!”
One such banner on the side of a bus reads, “Floki doesn’t do politics, we do ecosystems,” – a very confusing sentence that offers little to describe what the project actually achieves.
The same can be said of a Tube poster proclaiming Floki Inu to be “powered by Ethereum and BSC.” While mentioning these main blockchains may bring a sense of recognition to certain customers’ faces, there’s little information about how this altcoin distinguishes it from the thousands of other cryptocurrencies out there.
The posters emphasize that digital assets are regulated in the United Kingdom and their value can go up and down, with earnings subject to capital gains tax. This is in response to the ASA’s concerns that prior ads failed to identify the risks involved with crypto investments.
When asked about whether these advertisements will help Londoners understand more about Floki Inu, the team said,
“We feel that there is a lot of misunderstanding about Floki and what it does. Many understand that Floki is a memecoin inspired by Elon Musk’s shiba inu. As a result, they ignore everything else about Floki and label it as a memecoin without utility, which is not true.”
The campaign demonstrates the difficulty that crypto initiatives may have in getting their message through due to the ASA’s rules.
At press time, Floki Inu was trading at $0.00002175, down by 11.5%.