The Dogecoin Foundation, a nonprofit organization to support the cryptocurrency Dogecoin (CRYPTO: DOGE), has registered European Union trademarks for “Dogecoin”, “Doge” and associated logos in a move that it says further safeguards its name and imagery.
What Happened: The Dogecoin Foundation said on Twitter (NYSE:TWTR) the registration was “a small victory … but an important step" due to an increasing number of "bad faith attempts" by other people and organizations to take control of its brand and image.
Given an increasing number of bad faith attempts to register trademarks for "Doge", "Dogecoin" and even the logos created for Dogecoin by Christine Ricks by people and organisations, we had no option but to register them to protect all good shibes in the @Dogecoin community. 2/2See also: How To Buy Dogecoin— Dogecoin Foundation (@DogecoinFdn) March 2, 2022
Why It Matters: The Dogecoin Foundation, which was re-established in August 2021 after a six-year hiatus, has been attempting to quell several imitators trying to cash in on the Dogecoin brand and name.
The foundation was competing with half a dozen others to file an official claim with the U.S. Patent and Trademark Office on the dogecoin brand name, it was reported in September, citing the Wall Street Journal.
Although created as a joke in 2013, Dogecoin shot to popularity last year mainly due to endorsements from Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk.
Advisors to the board include Dogecoin co-creator Billy Markus, Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin, and Musk’s legal and financial advisor, Jared Birchall.
Price Action: Dogecoin has shed 4.9% during the past 24 hours, trading at $0.1257 at press time, and is down 27.2% so far this year.
Read Next: This Dogecoin Rival Is The Most Traded Crypto By Ethereum Whales Today
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.