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Debashree Patra
Debashree Patra
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- Dec 18, 2024 13:54 UTC
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Neiro Memecoin Controversy: Who Owns the Official Token Rights?
The rise of memecoins, exemplified by Dogecoin, has seen explosive growth, surpassing $140 billion in market cap.
The Own the Doge DAO secured official IP rights for Neiro allowing them to determine the "official" Neiro token through a community vote.
The recent controversy surrounding Peanut the Squirrel's trademark infringement raises concerns.
What began as a joke has now become a serious force in the crypto world. The memecoin market cap has surpassed an incredible $140 billion, proving their rising influence. But recent controversies over licensing rights have put investors in a tricky position.
The Doge meme, inspired by the Shiba Inu dog Kabosu, remains a defining symbol of the memecoin universe. After Kabosu’s passing, her owner, Atsuko Sato, adopted a new Shiba Inu named Neiro. This sparked a wave of Neiro-themed coins, with each claiming to be the “original.”
Let’s dive into the story deeper, shall we?
Own the Doge DAO Brings Order
In the midst of this frenzy, the Own the Doge DAO—a group focused on preserving Doge’s legacy—took a bold step. The DAO secured official intellectual property (IP) rights for Neiro directly from Sato, known online as @kabosumama. With this move, the DAO is set to decide which Neiro token should be recognized as the “official” one, helping protect the community from scams and fraud.
The DAO will let DOG token holders vote on which Neiro coin deserves the title. To keep things aligned with her vision, Sato will have veto power over the final decision. This ensures both fairness and integrity in shaping Neiro’s legacy.
The crypto community has welcomed this approach, seeing it as a much-needed step to create transparency in the memecoin market.
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Crypto Impact
The stakes are high in this decision. One of the Neiro tokens, based on Ethereum, boasts a market cap of $663 million, while others, such as the Solana-based token, are valued at 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 contenders.
Legal Challenges Come Back to Haunt
Adding to the tension, Mark Longo, creator of the Peanut the Squirrel meme, has accused Binance of using his trademark without permission. This has reignited debates about the legal rights and legitimacy of memecoins. With billions invested in these tokens, such disputes could shake the market’s bullish momentum.
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FAQs
Atsuko Sato, Kabosu’s owner, transferred the Neiro meme’s IP rights to the Own the Doge DAO for official token recognition.
Yes 
No 
