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Shiba Inu Rival Floki Inu Scores Partnership with India's Most Followed Football Club

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Fri, 11/19/2021 - 08:09
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Alex Dovbnya
The Elon Musk-inspired cryptocurrency wants to break into the Indian market
Shiba Inu Rival Floki Inu Scores Partnership with India's Most Followed Football Club
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Floki Inu, a meme cryptocurrency whose creation was inspired by Tesla CEO Elon Musk's Shiba Inu puppy, is continuing its marketing blitz by announcing a partnership with Kerala Blasters FC, the most followed football club in India.

As part of the partnership, the cryptocurrency's logo and its website will appear on the right sleeve of the club's jersey throughout the Hero Indian Super League 2021-2022 season.

In February, Kerela Blasters reached two million followers on Instagram, becoming the first Indian football club to achieve such a milestone. It also boasts 1.8 million followers on Twitter.

The promoters of the Floki Inu cryptocurrency believe that the deal could potentially help the meme coin to go mainstream in India.

Floki Inu's marketing attracts criticism

The ad comes after Floki Inu, which competes with Shiba Inu and Dogecoin, came under fire in the U.K. for plastering its ads on underground trains and buses in London.

According to a BBC report, the Advertising Standards Authority (ASA) started investigating the aggressive marketing campaign.

Floki Inu decried the attack as "a clear attempt at censorship" in its statement.

Despite the pushback, Floki Inu also launched a promotional campaign in the Netherlands.

FLOKI is up 4.5% over the past 24 hours, bucking the bearish trend.

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India on track to ban crypto ads

Because of surging crypto prices, advertisements published by cryptocurrency exchanges have inundated India's sporting events, which drew the ire of the government.

According to recent media reports, India is on track to ban "irresponsible" cryptocurrency ads that promise big returns. Prime Minister Narendra Modi recently warned that crypto could "spoil" Indian youth.

India is also rumored to be prohibiting exchanges to list coins without government approval.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.