Arsenal ruling and what it means for Socios ‘fan tokens’ – The Athletic

Britain’s Advertising Standards Authority yesterday issued a landmark ruling over Arsenal’s promotion of Socios “fan tokens”, arguing that the club had “reduced investment in crypto assets and exploited consumer inexperience or naivety” in a Socios promotion that featured three first-team players.

The ruling could have major ramifications in the league working to deepen ties with Sosius, with Crystal Palace recently becoming the sixth Premier League team to sign up after Arsenal, Aston Villa, Everton, Leeds and Manchester City, despite fierce opposition from fan groups.

Earlier this year in a special investigation, The Athletic revealed how, along with “fan engagement” in the form of polls and contests, the Socios ecosystem is a hotbed of volatile, risky and unregulated financial speculation, with users of the product on social media. Social is much more likely to be involved in talking about ‘pumping’ and ‘dumping’ than anything related to football.

The ASA verdict focuses on Arsenal, not any other club, just to file a complaint about Arsenal.

An Arsenal spokesperson said: “We take our responsibilities in terms of marketing to our fans very seriously.”

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