Needless to say, the Dogecoin community has quite a bit to worry about. With that kind of power, UltraPRO could do serious damage to the Dogecoin economic infrastructure. UltraPRO responded to the Daily Dot though, with somewhat reassuring sentiment.
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Upon hearing the news, Dogecoin users started to collaborate on ways to deter this from happening. Some called for a boycott; others called for the opposition to be filed. Either way, the move by UltraPRO was seen as a threat to their economy.
When UltraPRO saw some of the reactions, most likely through Twitter, they were quick to make a statement.
“We didn’t think about going after anyone with the filing, nor do we plan to, but we always file because typically people come after us,” UltraPRO General Manager Jay Kuo told the Daily Dot, “Our intentions were never to block out the current market for ‘Doge’ products.”
Previously, UltraPRO stated that they would be paying royalties to the owner of Kabuso, the lovable puppy in the Doge meme, along with donating to her charities. However, they redacted the royalty statement, clarifying their intention.
“If we receive the trademark we will offer royalty-free use for any vendor who wishes to use the mark,” they said, “If we do not receive the trademark, we will seek a reasonable license from the owner of the mark to use it, or we will pursue a different name for the line.”
Sentiment and intention can only go so far. There are plenty of uses for the trademark. While UltraPRO may be honest in their plans, that kind of power is a bit unnerving for the Dogecoin community. Josh Wise has shown his full support on reddit and the digital currency storage platform Moolah made an official statement on Twitter about taking steps to combat the effort by UltraPRO
Reddcoin has also began to worry, and has called upon their Reddteam to trademark “redd” or “reddcoin” if possible. One user, TheSciNerd, even noted that they proposed trademarking Reddcoin 22 days ago to avoid this very problem.
In their post, TheSciNerd said, “I propose that we pool funds to register the reddcoin trademark. Can we figure out a way to intertwine our PoSV RDD to ownership of reddcoin assets, like the reddcoin trademark? All reddcoin owners stakeholders would have unlimited license to use the reddcoin trademark for any reason. That way, anyone wishing to use the reddcoin name would need to buy at least 1RDD to become a stakeholder.”
Now that there’s a chance their name could be trademarked, people are moving quickly to secure their coin’s future.
Whether or not UltraPRO will be granted the trademark will not be known until July 8, 2014, when their application is due to be published. If any person wishes to file an opposition, they have until the timeframe ends to do so.
image from shutterstock