The U.K Authorities criticized the arsenal fan token ads. Arsenal’s Fan token ads. They said that the promotional ad on their website and Facebook did not come under the advertisement standard authority(ASA).
Why Does The ASA Criticized To The Arsenal’s Fan Token Ads?
The Arsenal is one of the U.K.’s top-ranking soccer clubs. In the July of 2021 introduced their digital token in collab with the Socios.
However, got an objection from the Advertisement authority standard (ASA). The authority says the promotional Arsenal F.C. fan token ads are misleading and irresponsible.
The ASA condemned the two ads, one on Facebook and another one on the club website.
On 12, August 2021 a Facebook post appeared that claims that the holders of the $AFC token keep voting on selecting the song the club would play at their victory event. Additionally, the club website page that showed on Aug. 6th claimed to elaborate ‘ everything you need to know” about the token.
ASA Called Arsenal’s Fan Token Ad Misleading & Irresponsible:
According to ASA, both, Facebook and Arsenal webpage failed to elaborate the vulnerabilities in investing in cryptocurrency. They said Facebook was irresponsible as it doesn’t clarify that fan token come under the digital asset and can only be avail by using crypto.
Words By Arsenal’s Token Authority:
The arsenal said that the token differed from the cryptocurrency, Which are means of payment. These fan tokens are designed for entertainment. And to encourage the fans to participate actively. Also, the token couldn’t be traded on the socio app when the ads were running. The club also refused that the focus of ads was on the crypto investment.
Moreover, the promotional marketing of cryptocurrency and digital assets is increasing day by day. Besides it, the U.K. Advertisement authorities also condemned the other industries over misleading about cryptocurrencies, such as eToro, Coinbase, and papa johns.
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