The latest ad campaign for Floki has angered the Advertising Standards Authority’s marketing watcher as the UK begins an investigation into London Buses and an underground advertising campaign for the meme coin. The investigation is part of a broader move by the ASA against cryptocurrency advertising if it is deemed misleading and irresponsible.
The meme was controversial during an advertising campaign on Britain London’s public transport system.
Named after Elon Musk’s dog FLOKI, the new meme coin craze has hit the crypto market while trying to replicate the huge success of the original DOGE meme coin. The developers behind Floki launched an advertising campaign on London’s bus and subway systems asking people to buy tokens. One of the advertisements said: “Did you miss DOGE? Get Floki. The campaign reportedly lasted three weeks in October and generated many complaints from the public. An ASA spokesman even confirmed that they are investigating both the transport to London and the Floki Inu.
The investigation is part of a broader ASA crackdown on crypto-related ads backed by the Liberal Democrats and the Greens. The two sides even urged the London transportation system to stop accepting advertisements from crypto companies until the country’s financial regulator issues new marketing guidelines. The London transport system, while not introducing such a ban, notes that crypto-related advertising is being scrutinized more closely than advertising for other sectors is regulated in the UK.
The anonymous developers behind Floki Inu claim their ads comply with national laws and regulations. The research team said:
“The attack by a particular political party on these ads is an attack on cryptocurrencies and people’s freedom of choice – an obvious attempt by censorship.”
As recently reported, FLoki Inu, a self-proclaimed DOGE killer, has signed a major partnership deal with India’s top professional football clubs such as Kerala Blasters, known as The Blasters. In an official announcement on the FLOKI Twitter page, the comeme said it would become the club’s official sponsor. As part of the deal, the Floki Inu symbol will appear on the right sleeve of Blasters’ Indian Super League jerseys. The FLOKI brand, along with other fan merchandise, will feature LED displays at home games.