Unauthorized Baby Shark Meme Coin Collapses After Pinkfong Denies Affiliation

A meme coin leveraging Pinkfong's brand—creator of the viral 'Baby Shark' phenomenon—collapsed abruptly after the South Korean entertainment company disavowed any connection to the project. The token, built on Story Protocol's intellectual property management platform, was issued without authorization, prompting Pinkfong to threaten legal action against those responsible.

Story Protocol, designed to streamline IP licensing by cutting intermediaries, now faces scrutiny after its users allegedly misinterpreted rights to Pinkfong's pink fox mascot. The platform deleted promotional posts claiming users could 'remix and expand' the tokenized IP, though blockchain investigator ZachXBT preserved evidence of the since-removed claims.

Pinkfong's YouTube dominance, with 140 billion cumulative views and the platform's most-watched video, underscores the risks of unauthorized crypto projects capitalizing on established brands. The incident highlights tensions between decentralized IP experimentation and traditional legal safeguards.