After a difficult start to their working relationshipthe Nala Cat brand and the current team behind the Solana Shark Cat (SC) meme coin have reached an agreement: granting Shark Cat an official IP license.
Following a controversy that spread across Twitter, the owner of the popular social media feline Nala announced last week that she had reached a settlement with the team behind Shark Cat, who originally used photos of the cat to promote her token .
The Shark Cat team confirmed that they have struck a deal with the Nala Cat brand and have acquired a license to use the IP for the meme coin. But after all the bad blood between the two partiesas already reported by DecipherHow did they arrive at a solution?
When the debacle first began, Nala’s pseudonymous owner, Pookie, had attempted to negotiate a deal with a community-led Shark Cat team after discovering that they had used Nala’s likeness for their meme coin.
Things quickly went south. The Nala Cat team didn’t feel like they were being presented with fair offers, given that their intellectual property, used for a line of cat food and other products, has been repeatedly used to promote a coin valued at a capitalization of market peak of $390 million. at the end of March. The Shark Cat team, meanwhile, believed that Pookie’s request for a sizable portion of the token supply was not feasible. It didn’t appear that either side was willing to change its position.
After DecipherAfter posting the meme coin conflict report, Pookie said she started receiving emails from several members of the Shark Cat community. She found that many of the people reaching out to her seemed like real, genuine human beings who just wanted arrive at a solution.
Pookie said Decipher that seeing how many real people from around the world were affected by the situation led her to reach an agreement with the Shark Cat team.
She was approached by Brandon Sample, a cryptocurrency lawyer who read what was going on and offered to take her case Pro bono. The champion told Decipher that the conflict was ultimately a learning experience for both sides and that both Pookie and the Shark Cat team are happy with the outcome.
“While ‘Code is law’ is a popular mantra in the industry, there are actual laws and structures in place for how to operate when it comes to things like intellectual property,” Sample said.
The exact details of the agreement between the two parties are being kept private. The only information shared by Nala’s legal team Decipher is that it is a licensing agreement and that Shark Cat has the rights to use the Nala Cat trademark.
Pookie and Sample both stressed that there was no bad blood between the two teams, that they wish the Shark Cat community good luck and that they hope to find success in their endeavors.
When reached for comment, a connection from the Shark Cat community responded: “We swim together now. The shark is a mf cat 🦈🐱.”
As reported by CoinGecko. It’s still down 55% from its March 31 peak.
By Andrea Hayward
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