Dogecoin Popularity Sparks Trademark Battle Over Cryptocurrency’s Name

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Dogecoin noticed a speedy rise earlier this 12 months, gaining billions of {dollars} in market worth on the again of a powerful push from billionaire entrepreneur Elon Musk. But a number of different cryptocurrencies primarily based on the identical common Shiba Inu meme additionally proliferated throughout the identical time in a bid to trip the Dogecoin frenzy. The Dogecoin Foundation, a non-profit shaped by the cryptocurrency’s creators and supporters in 2014, has now filed an official declare with the US Patent and Trademark Office to ensure the model title is just not misused. The drawback is, there are practically half a dozen others who, too, are out to say the title.

A trademark identifies the supply of products or providers and supplies authorized safety for a model. Originally created as a joke on the cryptocurrency universe and impressed by the 2013 viral Internet meme of a Shiba Inu canine, Dogecoin acquired large help from Tesla and SpaceX CEO Musk and made spectacular positive factors this 12 months.

However, a battle has erupted over it and several other gamers wish to personal the favored Dogecoin trademark, in keeping with a report by The Wall Street Journal.

Among them is Moon Rabbit AngoZaibatsu, a Cook Islands-based firm, which has filed a declare to acquire the Dogecoin trademark within the US and the European Union. Its founder Angel Versetti has created a brand new dogecoin on his firm’s blockchain community and likewise established one other firm in Cook Islands referred to as the Dogecoin Foundation after the unique Dogecoin Foundation remained inactive, mentioned the report.

But the unique Dogecoin Foundation was just lately revived. Billy Markus, the co-creator of Dogecoin and one of many board advisors of the inspiration, instructed Benzinga final month that he was involved about “trademark trolling”, that means some individuals making an attempt to register a trademark with out the intent of truly utilizing it.

Dogecoin value in India was near Rs. 20 (roughly $0.25) on the time of penning this report, up from lower than a rupee ($0.01) at the start of this 12 months.


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