Neiro Memecoin Controversy: Who Will Own the Official Token Rights?

The post Neiro Memecoin Controversy: Who Will Own the Official Token Rights? appeared first on Coinpedia Fintech News

Memecoins, which started as a joke, have now become key players in the market. Interestingly the memecoin market cap surpassed $140 billion. Investors who were eyeing memecoins are in hot waters with a recent controversy over their licensing rights. 

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

Amid this IP mania, the Own the Doge DAO, a collective focused on preserving the legacy of the Doge meme, secured the official intellectual property (IP) rights for Neiro directly from @kabosumama. This move has put the DAO in a unique position to decide which Neiro token should be recognized as the “official” one, bringing clarity to all the Neiro-themed coins. This will help the community to stay safe from scams and fraud. 

We’re pleased to announce that @kabosumama has officially granted our DAO the Neiro IP.

When Atsuko revealed the name of her new adopted dog, Neiro, many tokens were launched in an attempt to capitalize on her name and story. However, since then, these various tokens have… pic.twitter.com/HCAL0ghCNS