- After a public dispute, the Nala Cat brand and the team behind Solana meme coin Shark Cat (SC) have reached an agreement, granting Shark Cat an official license to the IP.
- The conflict began when Nala’s owner discovered that Shark Cat had used Nala’s likeness to promote its token.
- Despite initial disagreements, the two parties have now reached a resolution, with Shark Cat acquiring a license to use the Nala Cat brand.
Following a public feud, the Nala Cat brand and the team behind Solana meme coin Shark Cat have reached an agreement, granting Shark Cat an official license to the IP. This article explores the details of the dispute and its resolution.
Dispute Between Nala Cat and Shark Cat
The conflict began when Nala’s pseudonymous owner, Pookie, discovered that Shark Cat had used Nala’s likeness to promote its token. Pookie attempted to negotiate a deal with the Shark Cat team, but the initial negotiations were unsuccessful. The Nala Cat team felt they were not given fair offers, considering their IP was used to promote a coin valued at a peak market cap of $390 million in late March. On the other hand, the Shark Cat team felt Pookie’s request for a sizable chunk of the token supply was not feasible.
Resolution of the Dispute
After CoinOtag’s report on the meme coin conflict, Pookie started receiving emails from several members of the Shark Cat community. She found that many of the people reaching out were genuine individuals seeking a resolution. This led to a change in her stance, and she was open to reaching an agreement with the Shark Cat team. Brandon Sample, a crypto-focused lawyer, offered to take on her case pro bono. Sample stated that the conflict was a learning experience for both sides. The exact details of the agreement are private. However, it is known that it is a licensing deal, and Shark Cat has the rights to use the Nala Cat brand.
Impact on Shark Cat’s Price
Shark Cat’s price has rebounded substantially amid the alliance, with the price rising 208% over the past week to a current price around $0.15 per token, according to CoinGecko. However, it is still down by 55% from the March 31 peak.
Conclusion
The resolution of the dispute between Nala Cat and Shark Cat highlights the importance of intellectual property rights in the crypto space. It serves as a reminder that while ‘Code is law’ is a popular mantra in the industry, actual laws and frameworks exist when it comes to intellectual property. The dispute and its resolution have had a significant impact on Shark Cat’s price, demonstrating the influence of such conflicts on the crypto market.
