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Recent advertisement campaign by dog-inspired meme coin Floki Inu was found violating some ASA regulations and was eventually prohibited
Floki Inu is yet another popular meme coin in the cryptocurrency space. Like Shiba Inu, this meme coin has also adopted intense marketing and advertising strategy, although not at Shiba Inu’s extent but almost there.
But it seems like in the flow of raging advertisement Floki Inu crossed the red line because it came under advertising authorities’ radar. Its advertising campaign has been asked to shut down and is now banned. The UK’s Advertising Standards Authority (ASA) has prohibited an ad in which Floki Inu was being promoted.
Reports are that the ads from Floki Inu had the tagline ‘Missed DOGE? Get Floki’. Per reports, the overwhelming aspect of this advertisement was its tagline and its placing at London Underground, which is one of the most prominent and prime locations.
Some critics called out for banning Floki Inu ads on London city’s public transport. Authorities have heard these callings, and those intense marketing efforts have been prohibited after finding the ads violating the regulations.
An investigation by authorities has found the advertisement attempting to violate regulation standards to capitalize on FOMO that is fear of missing out. The watchdog found the promotion persuasive and created the feeling of apprehension among the general public that they would miss out on something.
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About Floki Inu
Floki Inu is a meme coin, but in some manner, it’s different from others in the crypto market. The fundamental difference that keeps it apart from other meme coins is that the team behind Floki Inu is public; it’s an entire community based and developed by community cryptocurrency.
Although the creators chose to stay anonymous and did not reveal their identity ever, they decided their pseudo names and called each other by those identities. The next big thing Floki Inu is planning to create is its NFT metaverse with Valhalla, as per the team’s announcement. Although more details remain undisclosed at the moment, it will be an ambitious project of the Floki Inu team.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
