The team behind the Floki Inu (FLOKI) token, inspired by Elon Musk’s eponymous pet dog, has signed a sponsorship deal with Italian soccer giant FC Napoli.
Founded in 1926, Naples Football Club is one of the most popular professional teams in Italy. Under the leadership of the late global football icon Diego Maradona, the historic club won its first Serie A title in 1987 and is currently top of the league for the 2021-2022 season .
The Floki Inu logo, a Shiba Inu wearing a Viking helmet, will appear on the back of Napoli's jerseys and LEDs around the team's home stadium for the remainder of the season, according to a Nov. 23 announcement by the Napoli football team. on the signboard.
Jay Cassano, avid Napoli supporter and CEO of Cointelegraph, said he was "pleased to see the club getting more involved in the industry," stressing the importance of crypto partnerships in professional sports as a common Path to mainstream adoption:
“We’re seeing crypto companies and projects target sports as much as possible, from the NBA to the European Soccer League. This is presumably looking for wider adoption. Compared to leagues like the NFL, Serie A and La Liga, etc. The league is much more forgiving with crypto sponsorships.”
The Floki team added Napoli to its list of partner football clubs, which include Kerala Blasters in the Indian Premier League and Cadiz FC in La Liga. Floki also appears to be following a similar route to top cryptocurrency exchange FTX, which is actively pursuing numerous mainstream sports partnerships in 2021.
Napoli did not disclose whether it was a multi-year sponsorship deal or how much Floki spent on the partnership. In a statement, Floki’s marketing department noted that the move is part of the project’s ambition to become “the world’s best-known and most-used cryptocurrency.”
The Floki team has been working on a "significant marketing campaign" since late September, and the project says it has earmarked $1.5 million for an advertising campaign. Floki uses London as a key location and promotes its brand on the city's transport services, but the ads have sparked controversy and attracted the attention of Britain's advertising regulator, the ASA.
The UK ASA said it was "reviewing a large number of advertisements in the sector" to assess whether they breached advertising rules involving complex jargon and misleading information, the BBC reported on November 19. However, the Floki Inu team stated that its ad included a disclaimer about the volatility of crypto assets.
Team Floki Inu also signed an endorsement deal with boxing star and two-time world heavyweight champion Tyson Fury earlier this month. As part of the promotional deal, Fury will appear in the project’s upcoming earn-as-you-play NFT game, Valhalla.
The ethereum-based token launched in early June of this year, and Etherscan shows there are roughly 49,461 FLOKI holders, with a fully diluted market cap of $1.8 billion.
According to data from CoinGecko, the price of FLOKI has increased by about 12% over the past 24 hours, to $0.00018840 as of this writing, with trading volume reaching about $25.2 million during this period.
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