Coinye West
Crypto Overview
Project Status
Coinye West was a cryptocurrency that ceased to exist in 2014 after being shut down due to legal action from Kanye West. The project began as a parody cryptocurrency featuring Kanye West's likeness without his permission, leading to trademark infringement lawsuits that forced the project to close.
Historical Context
The cryptocurrency was announced in January 2014 and was initially called 'Coinye West.' After receiving a cease-and-desist letter from Kanye West's lawyers, the developers attempted to rebrand it simply as 'Coinye' and changed the logo to a half-man, half-fish character, but these changes were insufficient to prevent legal action.
Utility Assessment
The cryptocurrency had no substantial utility beyond being a novelty token. There was no clear use case or technological innovation proposed by the development team. The project appeared to rely entirely on the unauthorized use of Kanye West's likeness and name for marketing purposes.
Development and Adoption
The project never achieved meaningful adoption or development milestones. It was operational for only a brief period in January 2014 before being abandoned by its anonymous developers in response to legal pressure.
Crypto Impact
To assign a comfort level investing in Coinye West from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Coinye West.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
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