Arsenal Fan Token Promotion Banned by UK Advertising Watchdog

The United Kingdom’s advertising regulatory body, the Advertising Standards Authority (ASA), took a firm stance against Arsenal Football Club’s promotional activities for their supporter token. The club attempted to contest the ASA’s initial ruling, but the watchdog remained steadfast.

In the preceding August, the ASA publicly criticized Arsenal for disseminating promotions on Facebook and their official website that were deemed deceptive and imprudent. These promotions centered around entities known as “Arsenal Fan Tokens,” a form of digital currency.

The ASA raised concerns regarding several aspects. Firstly, they asserted that Arsenal was acting irresponsibly by exploiting fans who might not possess a comprehensive understanding of cryptocurrency mechanics, thereby minimizing the inherent hazards. Secondly, the ASA contended that the promotions were misleading due to their failure to provide transparent explanations of the risks associated with investing in these tokens. Lastly, the promotions conveyed an impression that acquiring these tokens was a straightforward process, while in actuality, it necessitated navigating a complex series of steps involving other cryptocurrencies.

Arsenal, in collaboration with an organization called Socios that assists sports teams in launching such fan tokens, attempted to differentiate their tokens. They argued that these tokens primarily focused on fostering fan engagement, rather than generating financial gains like conventional cryptocurrencies. Nevertheless, the ASA remained unconvinced and upheld their initial determination.

During the advertisement of their supporter tokens, Arsenal acknowledged possible dangers. They reminded their fanbase that a single token sufficed for engagement in club votes, suggesting they only acquire what their finances allowed, and even displayed cautionary notices on their official web portal.

Nevertheless, the UK’s Advertising Standards Authority (ASA) remained unconvinced. Arsenal contended that their intended demographic possessed familiarity with digital currency and that Socios, their collaborating platform, enjoyed widespread recognition within the football realm.

The ASA retorted by stating that the promotional material clearly suggested a requirement for financial commitment, irrespective of the prevalence of cryptocurrency. Their ultimate verdict banned the advertisements from resurfacing and cautioned Arsenal against future campaigns that might downplay investment hazards or exploit customers lacking experience.