As we reported here on CryptoCoinsNews (CCN) on January 6th just hours after the removal of www.coinyewest.com and the previous official CoinyeWest twitter accounts, Coinye has had to re-brand as a result of direct legal action from Mr. Kanye West himself. Our original article , written by admin Crypto, has been corroborated on the Wall Street Journal as well as Coindesk. On January 6th, 2014 Kanye West’s lawyers filed a cease and desist letter
From the cease and desist letter:
“Given Mr West’s wide-ranging entrepreneurial accomplishments, consumers are likely to mistakenly believe that Mr West is the source of your services.”
The letter went on to demand that the seven anonymous coders behind Coinye West stop using “Coinye West” or any derivation of it, and to close the official twitter and facebook pages. The original website has also been taken down and now redirects to coinyeco.in. Undoubtedly, they plan to claim that the re-branded “coinyecoin” is a perfectly legal parody of Kanye West trademarks.
Besides only a few media outlets latching onto the fresh news that Coinye has been attacked directly by Kanye West, many more are still just hearing about Coinye. In the next few days, plan to be inundated by facebook stories about Coinye, not Coinye West, and also brace for many comparisons to Dogecoin.
In response, Coinye’s release has been pushed up from 1/11/14 to yesterday, leading many to consider this a pre-mined coin which lived up to none of its promises for a fair and equal release. The publicity that will be generated by “beef” with Kanye West will be strong in the coming days but it will be short-lived at best. Why is that?
Kanye West has beef with everyone from police chiefs in Ohio, to Jimmy Kimmel, to every person that has ever called him ‘Cain’. Unless Kanye West miraculously accepts 100,000 Coinye as payment for keeping quiet in an “offer he can’t refuse” and his lawyers rescind their cease and desist letter, Coinye’s long term longevity is really in question. The letter implies that Kanye West will seek legal action against any exchange or business that offers Coinye settling services. I would love to see a celebrity try to take on Cryptsy though…
I’d like to take this time to draw readers’ attention away from cryptocoin publicity gimmicks such as Dogecoin and Coinyecoin. They offer absolutely no innovation to the cryptocoin community. If you are going to take the time to pursue altcoins, please understand that hype is useless only innovation is lasting.
While you’re here, check out the legally standing Kanye West parody that is being parodied by Coinye as a survival response to the cease and desist letter sent by Kanye West (I hope the new Coinye logo makes sense now!):
Last modified (UTC): April 24, 2014 16:08