Cryptocurrency inspired by Musk’s dog launches ad in Londonwritten by Bella Palmer
The head of marketing for the coin, which trades as "FLOKI," said the aim of the branding campaign is to ‘legitimize’ the coin and instil confidence in prospective buyers
A cryptocurrency inspired by Elon Musk's dog is at the centre of an advertising campaign throughout the UK transportation system, even as regulators take a critical stance on crypto ads, according to a Financial Times report.
"Missed Doge? Get Floki" is the tagline splashed on ads for the Floki Inu token placed at Underground stations, trains, and buses across London, with the campaign funded by a 4% marketing fee on buyers.
The head of marketing for the coin, which trades as "FLOKI," said the aim of the branding campaign is to "legitimize" the coin and instil confidence in prospective buyers.
You get a lot of scam artists in this game, the group's head of marketing who identified himself by the alias Sabre told the FT in a report published Wednesday.
Floki Inu’s advertising budget comes from a 4% fee imposed on new buyers. The tokens are used for “onboarding influencers” and to further develop and grow the Floki ecosystem. The Financial Times reports the project’s market wallets now have more than $3.5 million in cryptoassets to spend.
There is no indication Elon Musk is involved with the project, and he didn't respond to the FT's request for comment. Floki Inu didn't respond to the FT's request for comment about who is controlling the project. But it says it's the only crypto project officially partnered with the Million Gardens Movement, a group that works with a non-profit run by Kimbal Musk, Elon Musk's younger brother and a Tesla board member, to address food insecurity.
The coin has both an ERC 20 token and a BEP20 token. It can be bought on Uniswap DEX and PancakeSwap, according to the creators.
The token was launched on the ethereum blockchain and also runs on the Binance Smart Chain. On Wednesday, it was trading up nearly 1% at $0.00006076, according to CoinGecko.
The Floki Inu website said the coin represents a "movement" and will have three utility projects: an NFT gaming metaverse called Valhalla, an NFT and merchandise marketplace called FlokiPlaces, and a content/education platform known as Floki Inuversity.
It's also contracted to spend nearly $1.5 million in marketing for very targeted and aggressive campaigns for FLOKI to be listed on high-level exchanges and to onboard A-list influencers, according to the website.
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