In the ever-evolving world of memecoins, a new battleground has emerged: intellectual property rights. On Tuesday, Own The Doge DAO, the collective that holds the original ‘doge’ meme, announced its acquisition of the rights to use images of Neiro, the shiba inu adopted by the owner of the late Kabosu, the dog that inspired the iconic meme. This move has put the spotlight on the growing importance of IP ownership in the memecoin space, as unlicensed offerings face increasing scrutiny.
The Neiro Token Debate
Following the announcement of Neiro’s adoption in July, numerous NEIRO tokens were launched on Solana and Ethereum, each claiming to be the “real” one. Two such tokens even surged to hundreds of millions in market capitalization, enjoying active communities. However, according to a close source, Neiro’s owner Kabosumama had not endorsed any of these projects, stating:
I see many tokens related to Kabosu and Neiro. To clarify, I do not endorse any crypto project except @ownthedog $dog because they own the original Doge photo and IP.
Kabosumama
Own The Doge DAO’s acquisition of the Neiro IP has now sparked a heated discussion among the various NEIRO token communities. Each is vying to be recognized as the legitimate one, with the DAO opening up the debate to DOG token holders to vote on which token they consider the “real” Neiro.
The Case for the Original Neiro Token
Amidst the controversy, @Neirowoof, the team behind the first NEIRO token on any chain, has made a compelling argument. They believe the Neiro IP should correspond with the original Neiro meme coin, as they have been dedicated to guarding the legacy of Kabosu since Neiro’s adoption was announced. In a statement, they emphasized:
Being the first Neiro means 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.
@Neirowoof
The Importance of IP in the Memecoin Space
As the Neiro debate unfolds, it underscores the growing significance of intellectual property rights in the memecoin ecosystem. Tokens that emulate or represent trademarked or copyrighted characters from memes, video games, or other cultural phenomena without securing the necessary rights are increasingly at risk of legal action from IP holders.
Recent examples include the cease-and-desist letter issued by Mark Longo, owner of Peanut the Squirrel, to Binance for listing the PNUT memecoin without permission. As more IP owners assert their rights, memecoin projects will need to prioritize securing proper licensing to avoid similar challenges.
The Future of Neiro and IP-Backed Memecoins
As the Neiro community weighs in on the IP debate, the outcome could set a precedent for other memecoins. Will the original Neiro token emerge as the “real” one, or will a challenger gain the backing of the DOG token holders? The decision will not only impact the Neiro ecosystem but also serve as a bellwether for the broader memecoin space as it grapples with the complexities of intellectual property rights.
One thing is certain: as the market becomes increasingly wary of unlicensed offerings, IP-backed memecoins are poised to take center stage. Projects that proactively secure the rights to the memes and characters they represent will likely have a competitive advantage, as they can operate with greater legal certainty and potentially attract more investors seeking compliant offerings.
As the digital dogfight over Neiro’s IP plays out, it serves as a reminder of the ever-evolving nature of the memecoin landscape. With intellectual property rights becoming a crucial consideration, projects that adapt and prioritize compliance will be best positioned to thrive in this new era of IP-conscious memecoin development.
