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Dogecoin is that word with all crypto lovers who are not only familiar with but also invest in it. It has gain popularity after Elon Musk endorsed it multiple times on Twitter due to which he has earned the title of the ‘Dogefather’ in the crypto community.
This Dogecoin was once relegated to tech niches and now its rise in popularity has caught the attention of even those who have zero knowledge about the cryptocurrency world. And now, this famous Dogecoin is now involved in a trademark battle over its name.
It was first launched in the year 2013 based on the viral meme of a Shiba Inu dog whose name was Doge. The token is up by 8,414.30 percent over the past year.
The Dogecoin Foundation is a non-profit organization. It was established in Colorado, Denver by the original token’s creators i.e., Billy Markus and Jackson Palmer. The foundation has now applied to register the name as a trademark. Interestingly, its creators left the cryptocurrency space disillusioned but other members who actively participated in the token’s development are still a proud part of the foundation.
The claims of the foundation are not limited to the Dogecoin trademark but at least half a dozen of papers have been already filed with the US Patent and Trademark Office (USPTO) with applicants contending to own the Dogecoin brand.
The foundation had been defuncted for years but was re-established in the month of August. The main aim behind the re-establishment was to help the cryptocurrency with adequate advocacy and support. The board also included Jared Birchall and Ethereum co-founder Vitalik Buterin. Jared Birchall is Elon Musk’s close associate and also his representative.
“We are here to accelerate the development effort by supporting current Dogecoin Core and future Dogecoin Developers to work on a full-time basis through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project,” the foundation stated.
The Dogecoin Foundation undoubtedly did a tremendous job in safeguarding its intellectual property rights. They set an example for everyone out there to keep an eye on the infringers.