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Cryptocurrency News Articles

Own The Doge DAO Acquires Neiro IP Rights, Aims to Settle the 'Real' NEIRO Token Debate

Dec 18, 2024 at 07:15 pm

Neiro is the shiba inu adopted by the human owner of Kabosu, the dog that inspired the "doge" meme, after she passed away in July.

Own The Doge DAO Acquires Neiro IP Rights, Aims to Settle the 'Real' NEIRO Token Debate

Own The Doge, a decentralized autonomous organization (DAO) that collectively owns the original “doge” meme intellectual property (IP), has announced acquiring the rights to use images of Neiro, a pet shiba inu. The DAO is now holding a community discussion on which NEIRO token will be permitted to continue using the dog’s likeness.

“We’re excited to announce that @kabosumama has officially granted our DAO the Neiro IP,” Own The Doge announced on X. “When Atsuko revealed the name of her new adopted dog, Neiro, multiple tokens were launched in an attempt to capitalize on her name and story.”

“However, these various tokens have since been battling each other to become the ‘real’ Neiro, with no agreed-upon criteria. But it doesn’t have to be this way. Our DAO now owns the IP rights for Neiro,” the post explained, adding that the doge community can join the DAO and vote on which token they believe is the “real” one.

The ongoing discussion will allow the community and external members to comment and find a way forward to use Neiro’s IP before it is put into an actual on-chain proposal voted on by DOG token holders.

Neiro is the shiba inu that was adopted by the human behind Kabosu, the dog that inspired the “doge” meme, after she passed away in July. The announcement of a new dog prompted the creation of multiple NEIRO tokens on Solana and Ethereum at the time — with two such tokens surging to hundreds of millions in market capitalization and boasting active communities as of Wednesday.

As far as Neiro’s owner Kabosumama was concerned, none of the tokens were legitimate.

“I see many tokens related to Kabosu and Neiro. To clarify, I don’t endorse any crypto project except @ownthedog $dog as they own the original Doge photo and IP,” she announced in an X post at the time. “They are dedicated to doing only good every day, charitable works, and Doge culture.”

“Please watch out for token scams,” she warned.

The discussion has attracted opinions from various token teams that use or are centered around Neiro — each claiming to be the first or asserting to be better than the other.

“We believe the Neiro IP should correspond with the first Neiro meme coin on-chain,” @Neirowoof, the first NEIRO token on any chain, stated on the discussion page. “This being the original Neiro with a dedicated community who’s mission has been to guard the legacy of Kabosu since the day Atsuko made her blog post announcing Neiro’s adoption.”

“Unfortunately, we have been up against multiple power hungry forces whose only goal was to co-opt the narrative for a quick financial grift. Being the first Neiro does mean something special, as we are the true Sister of DOGE and the Guardians of Kabosu’s Legacy. We will never stop loving both Kabosu and Neiro for the lovely creatures and memes that they are,” the team added.

The discussions come as IP-backed memecoins are starting to become a major topic in the world of memecoins, which have so far operated without any legal troubles.

IP, or intellectual property, can include characters from memes, video games, or any cultural phenomenon that have been officially trademarked or copyrighted before their tokens were offered to the public.

Tokens are starting to face the possibility of legal action from IP holders if they do not own or secure rights to the IP they emulate or represent. Non-IP tokens like chillguy (CHILLGUY) and pnut (PNUT) are already facing legal challenges despite being popular and widely traded.

On Monday, Mark Longo, the owner of Peanut the Squirrel which inspired the PNUT token, issued a cease-and-desist letter to Binance, accusing it of trademark infringement for listing and offering the PNUT memecoin.

Longo claimed Binance used his “Peanut the Squirrel” trademark and mascot likeness without permission, noting he has been using the PNUT brand for educational and animal welfare initiatives since 2017.

Could NEIRO tokens see the same fate soon? Their communities will decide.

News source:www.coindesk.com

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