ASA rules against Arsenal s fan token advert

The Advertising Standards Authority (ASA) has upheld its ruling over marketing materials published by Arsenal Football Club, rejecting all challenges to its initial decision

The Advertising Standards Authority (ASA) has upheld its ruling o'er marketing materials published past Arsenal Football Club, rejecting all challenges to its initial decision.

In August of this year, promotional materials posted on both Arsenal’s Facebook varlet and its website felled seam short of required standards on tierce disunite counts. The promotions, which all related to to a cryptocurrency-based mathematical product called ‘Arsenal Fan Token’, were deemed irresponsible and misleading past the ASA.

Firstly, all adverts were adjudged irresponsible because they took advantage of customers’ inexperience, and trivialised investments inwards cryptocurrency. Secondly, it was levelled that the adverts were misleading as they failed to illustrate the peril of the investment. Thirdly, they were misleading because it was not made percipient the promotional token was a cryptoasset, which could only when be obtained by opening an calculate and exchanging with another cryptocurrency – that so had to live purchased.

Arsenal, which partnered with buff token creator Socios, challenged the ASA’s rulings in all deuce-ace areas. The football game club’s briny argument centred around the fact that “Fan Tokens were usefulness tokens used to encourage fan participation, and hence were materially different to cryptocurrencies which were virtual currencies used as a agency of payment... Fan Tokens were promoted responsibly past reminding fans they only if needful one item to ballot in Club decisions, that they should only when purchase what they could afford, and they had included info on the website that included danger warnings.”

In the club’s net dot of contention, it argued that the promotion’s target area audience widely understood the cryptocurrency market, and that Socios was well-known inward the footballing biotic community as a cryptocurrency platform.

The ASA rejected the challenges made by Arsenal, refuting the football club’s arrogate that cryptocurrency is a well-understood market, and the promotions made it sort out that an investment was required. The net judgement warned the adverts must not be shown again, and the football club should ensure any futurity promotions fare not trivialise investment, and non irresponsibly take advantage of customers’ want of experience.

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