Facebookand Arsenal’sfan token released on their website in August 2021 AFC with the first complaint. The Advertising Standards Authority said in its review after the decision that Arsenal discredited crypto investment and took advantage of users’ inexperience.
Examination, UK Advertising Standards Authority (ASA) decided in favor of Arsenal regarding online advertisements for fan tokens after an objection from the club. In a Wednesday statement, the watchdog concluded that Arsenal discredited investments in cryptoassets and lured its investors into high-risk investment without mentioning fan token risks through advertisements.
UK Advertising Standards Authority (ASA) Warns
Fan token holders are given the right to vote on club decisions in certain circumstances, and the token of chilizapp socios can be obtained via Arsenal with its crypto related ads Krakenand coinbase ASA’s attention was attracted by the advertisements of many companies, including The ASA prompted Arsenal to publish a guide on crypto ads in March recommending that companies clarify certain points about crypto assets, including that they are unregulated.
Arsenal told The Telegraph they were disappointed with the result. An Arsenal spokesperson said:
We have made it clear from the beginning that we take our marketing responsibilities very seriously to our fans. In this case, we have carefully reviewed communications regarding our promotions and briefed our fans on the financial risks.
