Whenever someone does something that becomes very popular, they often want credit to prevent others from infringing on it. They do this through a trademark, which is any word, phrase, symbol, or design that identifies you or your goods and services. For example, the Air Jordan logo is a trademark of basketball player Michael Jordan, and the artist’s name Juice WRLD is a trademark of rapper Jarad Higgins. One of the most popular things to have happened in 2021, is the rise of joke cryptocurrency Dogecoin, the Elon Musk backed crypto that has seen a multi thousand percent increase. Since then, the war has shifted from proving the doubters wrong to the trademark battle.
We all relate Dogecoin to the cryptocurrency, but people are rushing in for exclusive rights to the word. For example, The Dogecoin Foundation, a non-profit organization, has filed a claim to the US Patent and Trademark Office along with half a dozen others. The reason why there are so many is because Dogecoin is a meme. Memes can be copied a lot, so copycats aren’t that much of a surprise. There are nearly one hundred crypto tokens that use the term “doge” in some sort of way, while other small blockchain companies have filed themselves due to their Dogecoin code. This is likely going to be in court for a while, but the meme factor is a play because Bitcoin doesn’t have a trademark in the United States, but there isn’t a major scuffle about it. After all, Dogecoin is a spinoff, so there are naturally going to be spinoffs off it. It’s very confusing, but what do you think about this fight between Doge fanatics?
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.