30s Summary

A trader converted $160 into millions by investing in a meme-based digital coin called “Just a chill guy” (CHILL GUY) on the Solana blockchain. Despite making a huge profit, the trader missed an opportunity of earning $1.6 million by selling 2.8 million tokens early. However, the saga has caused controversy as the original creator of the meme, artist “PhillipBankss”, objected to the unauthorized use of his work for profit. He announced copyright of “Chill Guy” and plans to issue notices to those profiting from his artwork. Despite this, fans believe it will be challenging to control or shut down decentralized digital coins.

Full Article

One trader has struck gold, turning a $160 bet on a meme-based digital coin into millions. The trader in question bought tokens linked to a popular internet chuckle called ‘Just a chill guy’ (CHILL GUY).

Records from Solana’s blockchain explorer Solscan reveal that on November 15, the trader made two buys of the joke-based digital coin called CHILL GUY. The first time, the trader swapped 0.50 Solana (SOL), around $107 then, for a whopping 9.6 million CHILL GUY tokens using the funny coin making platform named Pump.fun. A few hours later, the trader plunked down another 0.246 SOL (nearly $51) for an additional 2.8 million tokens.

The CHILL GUY coin joined the Solana blockchain on November 15. It boomed thanks to the internet popularity of the ‘Just a Chill Guy’ meme. The coin’s worth skyrocketed, reaching a height of $643 million market capitalization by November 27. Currently, you can buy the funny coin for $0.58.

It appears from blockchain data that the trader sold some early – 2.8 million tokens to be exact – for 149 SOL (about $35,000). That’s a huge profit but also a missed opportunity of $1.6 million. But don’t feel bad! The trader kept a tidy sum of 9.62 million tokens that are now worth an estimated $5.6 million.

But it’s not all fun and games. The artist ‘PhillipBankss’ who created the ‘Just a Chill Guy’ character isn’t thrilled about this new digital coin. In fact, he has publicly spoken out against unauthorized use of his work. On November 21, ‘PhillipBankss’ announced he had copyrighted his ‘Chill Guy’ character, and that he’d be issuing notices for anyone making profit from his artwork. Up until now, he hasn’t endorsed or approved his artwork being used in any digital currencies.

Despite the artist’s indignation, fans think it might be a tough fight. Some voice the viewpoint that joke-based digital coins released on an anonymous, decentralized basis are mighty hard to control or shut down. One fan pointed out the joke-based coin would exist whether or not the artist approved, and that the digital asset was now forever part of the blockchain.