Floki Inu resumed its marketing campaigns in London less than two months after banning its previous ads by regulators. The memecoin plans to mount posters on 100 buses on the streets, with 203 strategic placements across the London Underground. The campaign is expected to be seen millions of times by commuters and tourists.
In its initial advertisements, the Advertising Standard Authority sanctioned the project for posting brash slogans like: “MISSED DOGE? GET FLOKI”. However, the advertising team has done nothing to improve its strategy as one poster picture declares: “Floki doesn’t do politics, we do ecosystems.”
The catchy captions do not explain the services of the platform. Furthermore, the target audience may not understand the popular cryptocurrency terms like “blockchain,” putting the altcoin in a difficult position of not standing out from the competition.
The campaign also shows how tough it is for crypto projects to educate the market who do not have adequate knowledge about digital assets.
Monday’s launch clashed with a 9.5% dip in Floki’s over the past 24 hours, an excessive loss compared with significant cryptocurrencies.
And while Floki’s supporters are correct that most assets have suffered a decline over the past six months, the meme coin’s 93.5% fall from all-time highs of $0.0003437 set in November 2021 is far worse than what many cryptocurrencies have endured.
Floki Inu’s Objective to Improve Market Awareness
The Floki Inu team stated that this latest campaign “is sending a strong message and making a statement that Floki is here to stay,” despite being faced with sanctions by the ASA.
“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 controversies, got every necessary clearance and approval from relevant bodies before it went. It wouldn’t have run otherwise!” According to a joint statement from the team.
Furthermore, the project, when asked if the ads will explain Floki’s value offerings to London residents, added:
“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.”
They cited examples of an ecosystem consisting of a play-to-earn metaverse NFT game, a marketplace for non-fungible tokens, and philanthropic projects that include building schools worldwide.
The project pointed to the U.K Financial Conduct Authority data that 2.3 million Britons invest in crypto, solidifying their claims that cryptocurrency is well known.
“These are people who have a right to be informed and who can make crypto-related decisions by themselves without having Big Brother interfere in their ability to make their own judgments about their crypto choices… all the while ignoring obscene ads and other ads causing actual damage to people’s lives.”
