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Arsenal Socios fan token advert broke rules by 'trivialising' financial risk of crypto
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English Premier League side Arsenal "took advantage" of fans' inexperience with cryptocurrencies with an advert for fan tokens, the UK's Advertising Standards Authority (ASA) has ruled.
A web page and Facebook post featuring players from the London-based team encouraged fans to claim a "free" $AFC token by registering with the football fan token platform Socios, but did not always make it clear that the tokens are a crypto asset that can rise and fall in value, the ASA said on Wednesday.
Fan tokens are a growing industry among football clubs, which claim they offer fans the ability to vote on and participate in the daily running of their side. However, they are also a speculative crypto asset which can rise and fall in value.
By offering a
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