A Kanye West-inspired virtual currency has launched early after the hip hop star’s lawyers filed a cease and desist letter against its developers.
The makers of Coinye launched the currency yesterday at 7pm PST without the approval of the artist, and despite the legal threat, writing on their website yesterday that "due to legal pressure, we will launch today".
Attorneys from law firm Pryor Cashman accuse the developers of copyright infringement, among other claims.
The cease and desist letter read: "Consumers are likely to mistakenly believe that Mr. West is the source of your services or is, at the very least, affiliated with, or has sponsored or endorsed the cryptocurrency."
The group has dropped the ‘West’ from the cryptocurrency’s name, and says it is now called CoinyeCoin.
The logo has also been altered from a likeness of the musician to a man wearing glasses similar to those worn by West, but with yellow teeth and a fishtail sprouting from the back of his head.
Reports suggest the developers changed the logo and name to make it clear that West has nothing to do with the project.
They have also altered the domain of their website to be registered in India, after lawyers demanded they deactivate the coinyewest.com website.
