Creator of ‘Chill Guy’ Meme Threatens Legal Action Against Token Developers

The artist behind the ‘Just a Chill Guy’ meme, known as PhillipBankss, has threatened legal action against token creators using the image without permission.

On November 15, the Solana network launched the Just a Chill Guy (CHILLGUY) token. The token gained popularity, reaching a peak market capitalization of $580 million. At the time of writing, it had dropped to $398 million with a price of $0.3988.

The artist has registered copyright for the image and will soon permit non-commercial use.

PhillipBankss intends to pursue creators of “unauthorized merchandise and shitcoins.” He clarified that he did not consent to the use of his artwork in “cryptocurrency.”

The community reacted skeptically to the artist’s statement.

One participant noted that filing a lawsuit is “nearly impossible” for anonymous and decentralized tokens.

These people don’t get that coins can be launched anonymously, in a decentralized way, with no team or jurisdiction—making legal action nearly impossible. https://t.co/RPAJItGZwL

— Ultima (@UltimaHoarder) November 21, 2024

Another explained that the asset is already “immortalized” on the blockchain and will exist with or without the artist.

This guy thinks he can take down a shit coin with DMCA strikes, it is immortalised on chain now

It’s gonna exist with or without you lil bro

Make some money during your 5 minutes of fame? https://t.co/UwPPat4SPO

— SimpleCDF (@SimpleCDF) November 21, 2024

Some suggested using this opportunity to profit by holding an NFT auction.

Look man if I was an artist and my picture went viral & transformed into a 300 million market cap memecoin i’d do an NFT auction & make bank & call it a day https://t.co/QAasgfoGib

— Jones (@JewishKrabz) November 21, 2024

Earlier, on November 15, the meme coin index reached its ATH thanks to new listings.

Previously, ForkLog explored the potential development of the cryptocurrency market following the rise of meme coins.