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Memecoin Floki, named after Elon Musk's dog, which was advertised on London's public transport
Will there be a third dog-based meme? coin achieve notoriety in the crypto markets? Floki – a relatively new cryptocurrency named after Elon Musk’s dog – is on a mission to do just that. The token's marketing team has pursued plans to promote public transport in London. Advertising a meme According to an audit report from the Financial Times, advertisements reading "Missing Doge? Get Floki" are permeating London's tube stations. Such ads are supposedly funded by a “tax” on first-time Floki-Inu buyers. Floki has been planning these displays for some time, as stated in the project's blog last month. In order to maintain the previous price dynamics...
Memecoin Floki, named after Elon Musk's dog, which was advertised on London's public transport
Will there be a third dog-based meme? coin achieve notoriety in the crypto markets? Floki – a relatively new cryptocurrency named after Elon Musk’s dog – is on a mission to do just that. The token's marketing team has pursued plans to promote public transport in London.
Advertising a meme
According to a Test reportfrom the Financial Times, advertisements reading "Missing Doge? Get Floki" permeate London's tube stations. Such ads are supposedly funded by a “tax” on first-time Floki-Inu buyers.
Floki has been planning these ads for some time now specifiedin the project's blog last month. To maintain the previous price momentum, the team pledged $1.5 million to market the coin.
The latest ads will hypothetically increase enthusiasm for the cryptocurrency while giving it an air of legitimacy. “Legitimacy” seems to work against a doge-based digital asset, but the coin’s gains are nothing to sneeze at. To Muski revealedHis new dog last month, Floki, has more than doubled in value. According to the company's own information, the market capitalization is currently over 500 million US dollars.
“There are a lot of cheaters in this game,” said Saber, the alias of Floki’s marketing boss. He believes the marketing campaign creates a higher level of trust among consumers to differentiate Floki from these scams.
In addition to the subway, the coin's supporters have also approved billboard advertising in LA and others in Japan, China and Russia. Given China's recent Banwith overall crypto trading in the country, such efforts may prove unsuccessful.
Floki Inu commercial. Financial Times
How will this fly with regulators?
Floki's ads are likely to open a whole new can of worms for financial regulators. In addition to the technical details of a project, they must consider whether new cryptos and tokens will be applied as securities or with the expectation of profit.
Most crypto ads in the UK are regulated by the Advertising Standards Authority, but not the Financial Conduct Authority. This leaves a worrying regulatory gap that allows cryptocurrency ads that do not respect investor protection.
Canada has already done great Stepsto manage advertising in the crypto space. Canadian securities administrators sent clear advertising guidelines to crypto trading platforms in September to avoid litigation.
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