Social media sensation 'Chill Guy' ignites crypto frenzy

The viral Chill Guy has become one of the biggest phenomena of recent weeks - both on TikTok and in the world of cryptocurrencies. The character, designed by artist Phillip Banks, has gained immense popularity as a meme and has also generated millions in profits thanks to the CHILLGUY token. How did a drawing become a global phenomenon, and what does the creator think about it?

Chill Guy is a simple yet expressive drawing of an anthropomorphic character, created by Phillip Banks in 2023. The character wears a hoodie, jeans, and sneakers, and his nonchalant pose with hands in pockets symbolizes calmness and detachment from life's troubles. "My new character. His whole deal is he's a chill guy that lowkey doesn't [worry]," wrote the creator about the laid-back character.

Originally, Banks posted the character on Twitter and Instagram, where it gained some popularity but did not cause much of a stir. It was only through TikTok and Generation Z that the drawing became a meme with global reach. Users of the platform began to associate Chill Guy with humorous descriptions of everyday problems, highlighting how people can "stay cool" despite all difficulties - both trivial and serious.

The immense popularity of the meme quickly caught the attention of the cryptocurrency community. On the Solana blockchain, a CHILLGUY token appeared, which quickly achieved astonishing success. Within a few days, its value soared from $13 (CAD 18) million to nearly $650 (CAD 906) million.

Investors who got in early on the tokens could expect astronomical profits. One of them, known as Wallet 9zW, initially invested just $314 (CAD 440) when the market capitalization of CHILLGUY was around $14,000 (CAD 19,500). Within 30 hours, the token's value increased by 38,800 per cent, reaching $5.7 (CAD 7.95) million. The trader then withdrew the first $21,000 (CAD 29,000) in four transactions.

In the subsequent days, there was an increase of 180 per cent over the previous record, prompting the investor to make additional purchases - this time for $1,150 (CAD 1600). In total, he invested about $1,460 (CAD 2,035), allowing him to accumulate profits exceeding one million dollars (CAD 1,4 million).

The success of CHILLGUY also contributed to increased interest in cryptocurrencies among TikTok users who were not previously involved in the industry. A representative from MoonPay - a platform enabling cryptocurrency purchases - admitted that on the day of CHILLGUY's biggest surge, a record number of transactions were recorded on the Solana blockchain.

Despite the huge popularity of Chill Guy, his creator, Phillip Banks, expressed his dissatisfaction with the commercialization of the drawing. On X, he wrote he does not support or consent to the use of his art in any cryptocurrency-related activities. He then changed his account settings to private so users could no longer harass him with messages.

In response to numerous instances of Chill Guy's image being used without permission, Banks also announced that he would take legal action: "Chill guy has been copyrighted. Like, legally. I'll be issuing takedowns on for-profit-related things over the next few days."

At the same time, the artist emphasized that these actions would not include individuals publishing memes non-commercially since he's not concerned with brand accounts using him as a trend - he is willing to overlook that when given credits.

Despite Banks' protests, the popularity of Chill Guy shows no signs of slowing down. Riding on his success, numerous NFT collections have emerged, with one reaching a minimum price of 3 SOL (about CAD 950). There have also been alternative tokens, such as Worried Guy (WORRIEDGUY), which was initially called a "flop coin" by Banks due to its small market capitalization. Nevertheless, it reached a value of CAD 18 million.

The story of Chill Guy is an example of how viral content can change not only pop culture but also the financial world. It also serves as a reminder of the importance of respecting creators' rights in the digital age, as the line between fun and commercialization becomes increasingly blurred.