The new campaign, which will cover buses and railway stations throughout the city, comes just weeks after regulators prohibited previous advertising from a marketing drive launched by Floki Inu in 2021.
Dogecoin competitor Floki Inu has launched a “aggressive” marketing effort in London, plastering advertisements across the city’s train terminals and famed red buses.
Floki Inu launched the new campaign in an April 23 blog post, saying that “the people’s cryptocurrency” will begin advertising on the sides of 100 buses and 203 posters located around the city’s underground train stations on Monday, April 25.
– 100 buses across the streets of London.
– 203 strategic placements across London Underground.
These ads will be seen tens of millions of times!
Get ready for impact! pic.twitter.com/hBanvs8eu2
— FLOKI (@RealFlokiInu) April 24, 2022
The current memecoin campaign follows a similar marketing push in late 2021 that sparked outrage among London assembly member Sian Berry, who attempted to prohibit any cryptocurrency adverts on the city’s rail and bus networks.
Floki Inu’s most recent campaign featured signs reading “Missing Doge?” “Find Floki.” Berry compared cryptocurrency to gambling in November, adding that public agencies should avoid advertising “risky” schemes.
Like gambling ads, which we have finally got the Mayor to remove, there is no way our public services should be used to advertise these unregulated, risky schemes to Londoners. I asked for a ban in July and I am still pushing.
— Sian Berry (@sianberry) November 14, 2021
The campaign garnered so much negative attention that the UK’s Advertising and Standards Authority (ASA) intervened on March 2, banning the advertisement for exploiting “customers’ fear of losing out, trivialising bitcoin investing, and preying on consumers’ inexperience.”
Despite the regulatory pushback, Sabre, the pseudonymous moniker for Floki Inu’s Director of Marketing, underscored in the release that the team has no intention of standing down:
“In some ways, this second London campaign is a larger victory for Floki and the broader crypto sector than the first, as our team fought for the right to publicise our ground-breaking project to the general public.”
“Some wished to have us completely banned from the country, and the anti-crypto movement continues to spread rapidly via smear campaigns and misinformation. The Floki Team will always maintain our position regardless of the circumstances “Additionally, they stated.
Earlier this year, in January, the Advertising Standards Authority (ASA) extended a slew of bans on crypto businesses advertising in the UK. The regulator suspended two commercials from Crypto.com that promoted the convenience of purchasing Bitcoin and collecting yield rewards for failing to disclose the investment’s risk.
The ASA banned six cryptocurrency firms from advertising in mid-December 2021 for “taking advantage of customers’ inexperience” and also for failing to demonstrate the risk associated with crypto investing.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.