Sony Freezes Aibo and Toro Memecoins on Soneium over IP Violations

user avatar

by Giorgi Kostiuk

2 years ago

Early Tuesday, Sony froze two popular memecoins, Aibo and Toro, leading to investor losses. The primary cause was the company's intellectual property violations.

IP Violations Lead to Freeze

According to Soneium, both memecoins were marked 'Forbidden' on Blockscout. Sony stated it implemented measures to protect intellectual property rights, as the memecoins used it without authorization. Aibo, named after robot dogs, reached a market value of $2.7 million, while Toro, referencing a cat mascot, traded up to $1.1 million. A Sony spokesperson said measures were put in place to safeguard creators' rights.

Sony's Unique Memecoin Strategy

Unlike other blockchains, such as Solana, which embraces memecoins even if they parody copyrighted content, Sony focuses on IP protection. Soneium demonstrates centralized nature by allowing the company to freeze any token at will, contrasting decentralized blockchains' anonymity.

Their attempt to block “unapproved” tokens spectacularly backfired in less than 24 hours after launch.f(gautham)

Memecoin Operations and Precautionary Measures

The unexpected freeze caused dissatisfaction among users, with some accusing Sony of 'rugging' investors. In the future, Sony plans to notify developers before freezing, allowing for necessary adjustments.

Sony's actions aim to protect creators' rights and fair profit distribution, though centralized approach raised criticism due to investor losses and unpredictable changes.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.