Arsenal FC Fan Token Ads Criticized by UK Regulator

Arsenal FC Fan Token Ads Criticized by UK Regulator
Arsenal FC, one of the U.K.’s top-ranking soccer clubs, received a reprimand from the country’s advertisement regulator for “irresponsible” and “misleading” promotion of its fan token, introduced on July 12 in partnership with Socios.The Advertising Standards Authority (ASA) criticized two ads, one on Facebook and the other on the club’s website.The Facebook post, which appeared on Aug. 12, said supporters who owned the $AFC token could vote on which song the club would play in the event of a victory. The website page appeared on Aug. 6, claiming to explain “Everything you need to know” about the token.According the ASA,…