Market Analysis

Floki’s logo to appear on league-topping SSC Napoli’s match jersey and stadium

As part of the sponsorship deal with SCC Napoli, the Floki Inu logo will be featured on the back of the football team’s jersey and across LED signs at the team’s home stadium.

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

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

According to a Nov. 23 announcement from S.S.C. Napoli, the Floki Inu logo depicting a Shiba Inu dog wearing a Viking helmet will be displayed on the back of Napoli’s jerseys and across LED signs around the team’s home stadium for the remainder of the current season.

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Avid Napoli supporter and Cointelegraph CEO Jay Cassano said that he was “excited to see the club getting more involved with the industry” and emphasized the significance of crypto partnerships in professional sports as a path to mainstream adoption:

The Floki team has been working on a “major marketing push” since late September, with the project stating that it had allocated $1.5 million towards advertising campaigns. Floki has targeted London as a key location with its branding featured across transport services in the city, but the advertisements have proven controversial and attracted the attention of the U.K.’s advertising watchdog, the ASA.

According to a report from the BBC on Nov, 19, the ASA said it was “reviewing a broad body of ads in this sector” to assess if they break advertising rules in relation to complex jargon and misleading information. However the Floki Inu team said its adverts were “legally cleared” and contained disclaimers regarding the volatility of crypto assets.

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Earlier this month, the Floki Inu team also signed an endorsement deal with boxing star and two-time world heavyweight champion Tyson Fury. As part of the promo deal, Fury will feature in the project’s upcoming play-to-earn NFT game dubbed “Valhalla.”

The Ethereum-based token was launched in June earlier this year, and Etherscan shows that there are around 49,461 FLOKI hodlers, with the fully diluted market cap standing at $1.8 billion.

Over the past 24 hours the price of FLOKI has gained around 12% to sit at $0.00018840 at the time of writing, with trading volume hitting around $25.2 million within that time frame according to CoinGecko.

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