{"id":49556,"date":"2025-09-27T08:30:07","date_gmt":"2025-09-27T01:30:07","guid":{"rendered":"https:\/\/hbbgroup.net\/meme-coin-modeled-on-baby-shark-creator-collapses\/"},"modified":"2025-09-27T08:30:07","modified_gmt":"2025-09-27T01:30:07","slug":"meme-coin-modeled-on-baby-shark-creator-collapses","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/meme-coin-modeled-on-baby-shark-creator-collapses\/","title":{"rendered":"Meme Coin Modeled on Baby Shark Creator Collapses"},"content":{"rendered":"<div>\n<div>\n<h4 color=\"#333\">In brief<\/h4>\n<ul>\n<li>A meme coin modeled on Baby Shark\u2019s creator collapsed.<\/li>\n<li>Pinkfong said the token created using Story Protocol was unaffiliated.<\/li>\n<li>Story Protocol deleted posts, but sleuth ZachXBT saved some receipts.<\/li>\n<\/ul>\n<\/div>\n<p><span>A meme coin touting Pinkfong\u2019s name collapsed on Thursday after the entertainment company behind YouTube hit Baby Shark said that it was unaffiliated with the token.<\/span><\/p>\n<p><span>The meme coin, which was created using Story Protocol\u2019s network for managing intellectual property rights and creating derivative works, was issued \u201cwithout authorization,\u201d Pinkfong <\/span><a href=\"https:\/\/x.com\/Pinkfong\/status\/1971140422878797983\" target=\"_blank\" rel=\"nofollow external noopener\"><span>said<\/span><\/a><span> in a post on X, promising \u201cgrave legal consequences\u201d for those violating the law.<\/span><\/p>\n<p><span>Although Story Protocol is designed to remove rent-seeking intermediaries from the IP industry, it appears that a purported misunderstanding between two of its users has potentially created more work for lawyers than projects that secured the rights to Pinkfong\u2019s IP traditionally.<\/span><\/p>\n<p><span>Pinkfong is more than just a pink fox: The South Korean firm, which has generated more than 140 billion cumulative views across its YouTube channels, is responsible for the most popular video on YouTube, featuring iconic lyrics like \u201cBaby shark, doo doo doo doo doo doo.\u201d<\/span><\/p>\n<p><span>In a now-deleted post on X, Story Protocol <\/span><a href=\"https:\/\/x.com\/zachxbt\/status\/1971401491643761052\" target=\"_blank\" rel=\"nofollow external noopener\"><span>said<\/span><\/a><span> that users could \u201cremix and expand\u201d the IP behind Pinkfong\u2019s furry mascot following its tokenization, according to screenshots shared by pseudonymous blockchain sleuth ZachXBT on Thursday.<\/span><\/p>\n<p><span>\u201cFascinated to see how this collaboration unfolds,\u201d Story Protocol co-founder and CEO S.Y. Lee said in a now-deleted post.<\/span><\/p>\n<p><i><span>Decrypt<\/span><\/i><span> has reached out to Story Protocol for comment.<\/span><\/p>\n<p><span>The meme coin debuted on Story Protocol\u2019s network had a market capitalization of $6.32 million on Friday, according to <\/span><a href=\"https:\/\/dexscreener.com\/story\/0xa3d2605b61c44f3ec67dea94e7db0ea28e73ae8e\" target=\"_blank\" rel=\"nofollow external noopener\"><span>DEX Screener<\/span><\/a><span>. A few hours after its kickoff on Tuesday, the token rocketed to a market capitalization of $519 million.<\/span><\/p>\n<p><span>Bubblemaps, a popular on-chain visualization tool and crypto sleuthing firm, <\/span><a href=\"https:\/\/x.com\/bubblemaps\/status\/1970893265621913884\" target=\"_blank\" rel=\"nofollow external noopener\"><span>said<\/span><\/a><span> on X that it found insider activity around the meme coin. It found no evidence that the activity was linked to Story Protocol, but around 7% of the token\u2019s supply was scooped up immediately.<\/span><\/p>\n<p><span>The price of Story\u2019s native token, which serves as the platform\u2019s underlying medium of exchange, has been volatile, meanwhile. Since Tuesday, Story\u2019s price has fallen from $12.91 to $7.24, while settling around $9.35, according to crypto data provider <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/story\" target=\"_blank\"><span>CoinGecko<\/span><\/a><span>.<\/span><\/p>\n<p><span>Pinkfong has endorsed two meme coins that exist on Solana and BNB Chain. As mentioned before, the unofficial one exists on Story\u2019s network. It debuted through a platform called IP World, which says that it is \u201cbuilt for degens, by degens.\u201d<\/span><\/p>\n<p><span>The project said that it had been working with a licensed partner of Pinkfong\u2019s, but it learned that the company\u2019s license wasn\u2019t valid, based on agreement that it had with another licensee. Nobody was prevented from engaging with the IP until that was verified.<\/span><\/p>\n<p><span>IP World said that the incident, while frustrating, showcased some of its safeguards. Because the IP wasn\u2019t verified on IP World, \u201ccreator fees remain locked on the protocol and cannot be claimed until the rightful IP owner is confirmed.\u201d<\/span><\/p>\n<p><span>The collapse of the unofficial Pinkfong meme coin has <\/span><a href=\"https:\/\/x.com\/mdudas\/status\/1971348255792631933\" target=\"_blank\" rel=\"nofollow external noopener\"><span>provoked<\/span><\/a><span> scrutiny toward Story Protocol among some industry onlookers, but IP World made it clear on Thursday that the network underpinning its service had little to do with the actual problem.<\/span><\/p>\n<p><span>\u201cStory Protocol, the blockchain on which IP World operates, was never a party to this agreement nor was it in any way involved in these licensing matters,\u201d the project said in a post on X on Thursday. \u201cWe are deeply sorry for the uncertainty and confusion this has caused.\u201d<\/span><\/p>\n<div>\n<h3>Daily Debrief Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>In brief A meme coin modeled on Baby Shark\u2019s creator collapsed. Pinkfong said the token created using Story Protocol was [&hellip;]<\/p>","protected":false},"author":5,"featured_media":49557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-49556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/49556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=49556"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/49556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/49557"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=49556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=49556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=49556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}