There’s a company out there trying to play with Kanye’s money and he’s not having it!
The megastar rapper/producer/clothing designer filed a copyright infringement lawsuit against the creators of a themed digital currency company that is trying to use Ye’s face to push their product.
The themed digital currency called “COINYE” aunched last week.
The logo for the currency, which is bought and sold over the Internet, features a cartoon version of West wearing his signature sunglasses.
“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,” claims the suit filed in Manhattan federal court, which seeks unspecified damages.
The suit refers to COINYE as a “crypto-currency” because it exists only as computer code, not in any physical form. Bitcoin is the most well-known crypto-currency.
“In interviews with the press, defendants brazenly admit that they adopted the marks COINYE WEST, COINYE and COYE to directly associate their newly minted crypto-currency with Mr. West,” the suit states.
Ye claims the COINYE creators are damaging his brand.
“With each day that passes, Mr. West’s reputation is irreparably harmed … Consumers are likely to mistakenly believe that Mr. West is the source of these digital coins,” the suit alleges.
To demonstrate the problem, the suit lists 18 tweets posted by consumers about the new currency.
“Move over bitcoin, @kanyewest is about to create the greatest digital currency of all time,” Chase Graves tweeted, according to the suit.
West filed a cease-and-desist letter on Jan. 6. But the defendants defied the “Gold Digger” hip-hopper by moving forward, the suit claims.
As of 7 hours ago, Kanye wins! COINYE is no more
Source: New York Daily News