The world of IP-backed meme tokens is rapidly gaining traction, but concerns over unlicensed projects are causing unease in the market.
A New Chapter for Doge Culture
On Tuesday, Own The Doge DAO announced its acquisition of the rights to use the image of Neiro, a Shiba Inu. Neiro was adopted by the owner of Kabosu after Kabosu's passing in July. The DAO is facilitating a discussion to determine which NEIRO token can legitimately represent Neiro.
The Rise of NEIRO Tokens
The announcement of Neiro's adoption sparked a wave of NEIRO-themed tokens on Solana and Ethereum. Two of these tokens have grown into active communities, although Kabosumama has distanced herself from these projects.
Risks and Legal Disputes
Meme tokens are facing scrutiny for operating without legal oversight. Mimicking or referencing copyrighted IP without permission can have legal ramifications, illustrated by the recent PNUT token dispute.
The fate of NEIRO tokens remains uncertain: the Doge community must navigate complex claims to maintain Kabosu and Neiro's legacy.
