Just don’t call him “Coinye!”
Rap legend Kayne West slapped a slew of anonymous digital-currency operators and another 100 unnamed co-defendants with a trademark-infringement lawsuit on Tuesday seeking to block the use of a new digital currency that would rival encrypted “Bitcoins” — but rely on Kayne’s name and image without his permission.
“Defendants have willfully and admittedly traded upon the goodwill and notoriety of Kanye West, one of the most famous entertainers and brand names in the world,” says the suit filed in Manhattan federal court by West and his company Mascotte Holdings. “Without hesitation, defendants have usurped Mr. West’s name and likeness for the sole purpose of propping up the perceived ‘value’ of the defendants’ ‘digital coin mine’ and its ‘cryptocurrency.’”
The coders of the new currency – also known as “Coinyes,” Coinye West” and “Coye” – had hoped to bring their product to the Internet last week. The currency includes a cartoon image of West wearing his signature shades.
West’s lawyers filed legal papers seeking a cease-and-desist order last week, threatening legal action if the unnamed coders didn’t back off their plans to launch. The suit was filed after the unnamed coders ignored the request and began bragging to the media about their coins.
The currency’s creators have remained anonymous, operating off websites like DayCoins.com, Coinye-Exchange.com, NewChg.com.
“We want to release this to the public before the man can try to crush it,” one of the coders said in a recent Skype interview with the Wall Street Journal. “They’ll still come after us, but that’s OK.”
“Defendants also boldly asserted that ‘Anarcho-capitalism is coming, it can’t be stopped,” says the suit, referring comments made by someone identifying themselves as “Coinyewest” in Jan. 7 article by the tech-blog Ars Technica. “Whether it has a symbol that looks like a dollar, a dog, or a cartoon picture of a rapper, it’s all the same thing.’”
The coders could not be reached for comment, but Coinye-Exchange.com had a message up Tuesday afternoon on it site saying it hoped to have “something by Wednesday.”
“I’m only going to launch when we’re 100% percent ready,” the site cryptically says. “If we go +1 or +2 days on the launch time, [it’s] for stability and securities sake! Thanks for your paitenence! [sic].”
The suit seeks unspecified monetary damages. West’s reps did not immediately return calls for comment.