Who will own the official token rights?

Memecoin, which started as a joke, has now become a key player in the market. Interestingly, Memcoin’s market capitalization has surpassed $140 billion. Investors who were paying attention to Memecoin were recently caught in hot water due to a controversy over licensing rights.

The story revolves around the iconic Doge meme, born from Kabosu, a Shiba Inu dog that continues to leave its mark on the cryptocurrency world. After Kabosu passed away, her owner, Atsuko Sato, adopted a new Shiba Inu named Neiro, who quickly became a symbol of the meme coin space. Following the news, many Neiro themed coins began flooding the market, each claiming the identity of the original coin.

Amid this IP craze, Own the Doge DAO, an organization focused on preserving the legacy of the Doge meme, secured Neiro’s official intellectual property (IP) rights directly from @kabosumama. This move puts the DAO in a unique position to determine which Neiro tokens should be recognized as “official” tokens and brings clarity to all Neiro themed coins. This will help keep our community safe from scams and scams.

To ensure a fair and decentralized decision-making process, the DAO allows DOG token holders to vote on which token is worthy of the official title. Sato retains veto power to ensure the final decision is consistent with Neiro’s legacy and vision for the integrity of the Doge community.

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Cryptocurrency Impact

This decision carries great risk. One of the Ethereum-based Neiro tokens boasts a market capitalization of $663 million, while others, such as Solana-based tokens, are worth around $5 million. The outcome of this vote could dramatically reshape the landscape of Neiro-inspired meme coins, potentially elevating one token to dominance or rejecting all competitors.

Recently, Mark Longo, the founder of Peanut the Squirrel, sent a letter to Binance accusing it of using his trademark without permission. It sparked a debate about the legality and legal rights of all memecoins. Like altcoins, people are investing heavily in memecoins and such news could break this bullish momentum.

It remains to be seen what this digital dog war will look like in the future.

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