The creator of the famous “Chill Guy” meme has announced plans to take legal action against projects using his artwork without permission, particularly in cryptocurrency.
The artist, known as “Phillip Bankss” on X, posted on November 21 that he has copyrighted the meme character and intends to target for-profit entities, including unauthorized merchandise and cryptocurrency tokens.
The controversy centres around the “Just a Chill Guy” (CHILLGUY) token launched on the Solana network on November 15. The memecoin quickly gained popularity, reaching a staggering market capitalization of $580 million. At the time of writing, it trades at $0.40 with a market cap of $400 million.
Despite the artist’s objections, the decentralized nature of blockchain poses a challenge for enforcement. Community members argue that pursuing legal action may be impractical, especially against anonymous token creators. One user on X noted that the token is now “immortalized on the blockchain” and would persist regardless of the artist’s stance.
Phillip Banks clarified on November 18 that he neither endorsed nor consented to his art being used in cryptocurrency projects. However, some have urged the artist to seize the moment, suggesting he create non-fungible tokens (NFTs) or monetize the meme through other channels. Others defended his position, emphasizing his rights as an artist and rejecting calls to profit off the trend.
While reactions remain divided, the artist remains firm in discouraging the use of his work in crypto-related endeavours and has vowed to proceed with takedown efforts in the coming days. Whether legal action will impact decentralized projects like CHILLGUY remains uncertain.
Notably, the launch of memecoins has surged in 2024, with over 1 million new tokens introduced across various blockchain networks since April. Solana and Ethereum have emerged as the dominant platforms for these launches. Ethereum saw over 370,000 new tokens created, while Solana had around 640,000.
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