CHILLGUY, a Solana meme coin based on the famous TikTok meme character Chill Guy, became a sensation soon after its launch as it saw massive growth in its early days. But things took a turn when the character’s creator, Philip Banks, strongly objected to the use of his art in the meme coin project. However, a recent Instagram post from Banks shows that a resolution has been reached to resolve this issue. Curious about the details? Read on!
Philip Banks announces licensing agreement
There were rumors that the CHILLGUY meme coin team would approach Banks to seek his support. In a recent Instagram post, Banks confirmed that the team reached out to him and after a lengthy discussion they reached an agreement on licensing and IP rights. He officially announces that he has decided to grant licenses and IP rights to the team, ending the uncertainty that questions the sustainability of the meme coin.
Notably, it was through his X-handle that Banks initially shared developments regarding the discussion. However, because his X account was hacked, he had to reach out again via Instagram.
Current Market Performance of CHILLGUY
At the time of launch, CHILLGUY’s price was approximately $0.00730. Between November 18 and 22, it experienced a massive growth of 7094.33%. On November 27, the price peaked at $0.6328. Since then, the market has been gradually declining. On December 2, the price fell to a low of $0.377. On December 10, it fell further to $0.2939. Over the past seven days, the CHILLGUY market has experienced a decline of 28.1%. In the last 24 hours alone, it has fallen by more than 13.4%. Currently, the CHILLGUY price stands at $0.321.
In conclusion, while the licensing agreement is a positive development for the Just a Chill Guy team, the token’s current market performance remains a concern.