Snapchat to limit ICO Ads
Not so long ago, there was an official news that social media giant Facebook, has decided to limit and ban the advertising content connected with ICO token sales, explaining that they created an opportunity for scammers. This may in fact be true, as there were many cases of poorly prepared fake ICO projects, that after raising the funds simply disappeared, however this shouldn’t take away from various interesting and revolutionary technology, which many ICOs offer. In Facebook case, they still allow to display educational ads related to the cryptocurrency world.
Now, another leading social media application joins the fight, as Snapchat is limiting the ICO advertisements on their application. Snapchat is a very popular mobile application, which lets you easily talk with friends, view Live Stories from around the world and most importantly easily share quick photo stories. An interesting feature is that the message and photos disappear from the phone once the time limit has expired. Cheddar.com had an opportunity to talk with Snapchat’s spokesperson. It is not know if the ban will expand to the whole cryptocurrency scene or will only apply to the crowdsales in order to protect users from possible scam attempts.
This may not be a good move for Snapchat, especially nowadays, when it is facing some backlash after improper ad with a popular singer and celebrity Rihanna. Her statement, which criticized the company have significantly had its toll on the share prices.
Many big players on the Internet and service providers are now slowly announcing they statements on the ICO and cryptocurrency ads. It is mostly due to the warnings issued by the U.S. Securities and Exchange Commission, which suggested that many tokens could fall under the category of unregistered security. Future regulations will show if the crypto crowdsales should disappear fully from the Internet, however despite this actions there are still many communication means for new projects to reach their potential investors.