Floki Inu

Floki Inu sponsors the SSC Napoli football team

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The team behind the Floki Inu (FLOKI) symbol – inspired by Elon Musk’s pet dog of the same name – has signed a sponsorship deal with Italian football giant SSC Napoli.

SSC Napoli was founded in 1926 and is one of the most popular professional teams in Italy. The club won its first Serie A title in 1987, led by the late world football icon Diego Maradona, and is currently ranked first in the league for the 2021-2022 season.

According to a November 23 announcement from SSC Napoli, the Floki Inu logo depicting a Shiba Inu dog wearing a Viking helmet will be displayed on the back of Napoli’s shirts and LED panels around the team’s home stadium for the rest of the current season.

Napoli’s avid supporter and Cointelegraph CEO Jay Cassano said he was “excited to see the club get more involved with the industry”. They stressed the importance of crypto partnerships in professional sports as a path to general adoption:

“We are seeing cryptocurrency companies and projects turning to sports whenever they can, from the NBA to the European Soccer leagues. Presumably, this is looking for further adoption. Leagues like Serie A and La Liga have been much more forgiving of crypto-sponsorships than, for example, the NFL.”

The Floki team is adding Napoli to its partner football clubs, including the Kerala Blasters in the Indian Super League and Cádiz in the Spanish LaLiga. Floki appears to be following a similar path to the largest FTX cryptocurrency exchange, which has aggressively sought numerous sports partnerships in 2021, according to cointelegraph.com

Napoli did not disclose whether it was a multi-year sponsorship deal or how much Floki spent on the partnership. Floki’s marketing department noted in the announcement that the move is part of the project’s ambitions to be the “best known and most widely used cryptocurrency in the world.”

Since the end of September, the Floki team has been working on a “big marketing push” since the end of September, with the project claiming $1.5 million for advertising campaigns. Floki targeted London as a key location, with its branding featured in the city’s transport services, but the ads proved controversial and attracted the attention of the UK’s advertising regulatory body, ASA.

According to a BBC report on November 19, the ASA said it was “reviewing a broad set of advertisements in this sector” to assess whether they violate advertising rules regarding complex jargon and misleading information. However, the Floki Inu team said its ads were “legally authorized” and contained warnings about the volatility of the crypto markets.

Earlier this month, the Floki Inu team signed an approval contract with the boxing star and two-time world heavyweight champion Tyson Fury. Fury will appear in the project’s future NFT play-to-earn game called Valhalla as part of the promotional offer.

The ERC20 token was launched in June earlier this year, and Etherscan shows that there are approximately 49,461 FLOKI hodlers, with a market capitalization of $1.8 billion.

In the last 24 hours, the FLOKI price has gained about 12%, reaching 0.00018840 USD at writing, the trading volume reaching approximately 25.2 million USD in this time, according to CoinGecko.

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