Artist threatens legal action over ‘Chill Guy’ meme tokens, community responds
The creator of the artwork used in the viral “Just a Cool Man” meme has threatened to take legal action against memecoins that use the image.
On November 15, the Just a chill guy (CHILLGUY) token was launched in the Solana network. The token became popular, at one time the market capitalization reached 580 million dollars. memecoin is currently trading at $0.4, with a market cap of $400 million.
Chillguy memecoin chart Source: GeckoTerminal
However, the creator of the art used in memecoin does not agree with its use for crypto-related endeavors. The artist has threatened legal action against crypto tokens for using his art without permission.
Child Guy Art Creator Threatens Legal Action Against Tokens
On November 21, “Philip Banks,” an artist who goes by X, posted that he copyrighted the character “Chill Guy.” The creator of the meme art says he'll be releasing downloads on the for-profit material over the next few days.
Source: Phillip Banks
The artist added that brands didn't care to use his character to ride the trend. However, the creator says he's going after “unauthorized merchandise and shitcoins.” In the year On November 18, the creator of the artwork clarified that he does not allow or permit the art to be used in “crypto.”
Cointelegraph reached out to Phillipbanks and did not get an immediate response.
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The community responded to the creator of Chill Guy's art
While Philip Banks may have threatened legal action against memecoin, community members believe the artist would have no chance of doing anything based on the blockchain.
One community member noted that legal action could be “almost impossible” for anonymously launched and decentralized tokens. Another X user expressed a similar sentiment saying that the crypto token is now immortalized on the blockchain. A community member says memecoin will exist with or without the artist.
Source: UltimaHoarder
Meanwhile, some X users believe that the artist should use the opportunity to make money. One member of the community suggested that the artist should auction off the NFT and “make bank”, while another said that he should “take the money and retire in peace”.
However, some have defended the artist's decision saying that he is an artist and not a “swindler”.
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