An Ethereum blockchain-based gaming network called XAI has filed a lawsuit against Elon Musk’s company xAI, accusing it of trademark infringement. Representatives of the blockchain company stated that they were protecting the brand because Musk’s product name causes confusion.
Established in 2021, Ex Populus develops and publishes blockchain-based games, particularly in the Ethereum ecosystem.
In 2023, the company developed a platform called XAI, which allows video game developers to use AI-based gaming solutions and autonomous software systems across multiple platforms.
Ex Populus filed a lawsuit based on trademark infringement, unfair competition and false designation of origin, as well as unfair business practices. The company claims that it has registered the XAI trademark since June 2023, which protects it under common law rights.
Musk has continued to use the name publicly to refer to his artificial intelligence company associated with the X platform In July 2023, he announced that he would create a new artificial intelligence and technology company, which he called xAI. As a result, many traders began to confuse the Ex Populus network with Musk’s AI gaming company.
Following the news of the lawsuit against Musk, the token suffered a drop in value. On August 25, the XAI token fell by 3.84% from its previous daily peak. It is currently trading at $0.04871.
Source: Ex Populus
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