By
Chimamanda U. Martha
April 17th, 2024
The decision to register the trademarks is just another step of the non-profit organization to increase advocacy for the meme coin.
The Dogecoin Foundation announced via tweet its success in registering the names ‘Dogecoin’, and ‘Doge‘. It also registered all associated logos as trademarks in the European Union. The tweet contained the certificate issued by the European Union of Intellectual Property.
According to the foundation, ‘‘It’s a small victory that seems so very irrelevant given all that’s currently happening in the world, but it’s an important step.”
Unrelated Entities Overstepping their Bounds
Registering became all the more necessary after the discovery of attempts by unrelated entities to register the names. In September, the foundation discovered its application to the US Patent Office faced competition from “half a dozen” others, and up to 100 cryptocurrencies using the Dogecoin name. For a coin that’s speculated to become the next best crypto, this is important.
Foundation executive board member, Jens Wiechers stated that the issue was about attempts by unaffiliated people to register the names. He noted that this “only really makes sense if they want to extort either the community or the Dogecoin project and foundation directly.”
Separately, the foundation also faced a potential lawsuit back in the summer of 2021 from someone who believed the foundation was managing their fund.
The result is that the foundation has been operating in a challenging environment amid untold stress. Foundation director, Ross Nicoll, confirmed this in his blog stating his decision to step down from his post.
Dogecoin Foundation to the Rescue
Back in July 2021, Jackson Palmer, founder of Dogecoin, announced he was done with cryptocurrencies. According to him, hyper-capitalistic technology amplified the wealth of its proponents by combining tax avoidance with reduced regulatory oversight and artificially generated scarcity.
Consequently, the meme coin experienced a downturn in price trend. Until the revival precipitated by the Dogecoin Foundation in August. Subsequently, the foundation put forward the first roadmap for the currency in the 8 years since its creation. It mentioned it was working with Buterin to migrate from POW to POS; a fact that Buterin confirmed this month.
The decision to register the trademarks is just another step of the non-profit organization to increase advocacy for the meme coin. Despite the announcement, there was no significant price rally for the coin. Rather, at the time of writing, the price of the coin is $0.126353; down 4.6% in the last 24 hours according to CoinGecko.