Artist Threatens Suit Over ‘Chill Guy’ Meme Tokens
The artist behind the “Just a chill guy” meme plans to sue memecoins using the image, despite calls to monetize and retire instead.
The author of the artwork included in the widely shared “Just a chill guy” meme threatens to sue memecoins that exploit the image.
The Just a Relaxed Dude (CHILLGUY) token was introduced into the Solana network on November 15.
The coin gained popularity and at one time had a $580 million market valuation.
With a $400 million market capitalization, the memecoin is now trading at $0.4.
The memecoin’s founder, however, objects to its use for cryptocurrency-related purposes.
The artist is now threatening to sue the cryptocurrency tokens that used his work without his consent.
The artist known on X as “PhillipBankss” said on November 21 that he has copyrighted the meme figure “Chill Guy.”
In the next few days, the creator of the meme art said, he will take down anything that was for profit.
The artist went on to say that he didn’t mind if companies used the figure to capitalize on a trend.
The developer did, however, declare that he would target “unauthorized merchandise and shitcoins.”
The artist also made it clear on November 18 that he does not support or agree with the use of his work in “crypto.”
Phillip Banks was contacted by Cointelegraph, but they did not respond right away.
Community members think the artist would not succeed in pursuing something based on the blockchain, despite PhillipBankss’s promise to file a lawsuit against the memecoin.
Legal action may be “nearly impossible” for coins that are released anonymously and decentralized, according to one community member.
The crypto asset is now immortalized in the blockchain, according to a similar sentiment shared by another X user.
Without the artist, the memecoin would still exist, according to the community member.
Some X users, meanwhile, think the artist ought to take advantage of the chance to earn money.
One community member advised the artist to “make bank” by holding an NFT auction, while another advised them to “take the money and retire peacefully.”
Some, however, backed the artist’s choice, claiming that he is “not a scammer” and is an artist.
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