Playboy Enterprises has filed a lawsuit in opposition to a cryptocurrency firm over failure to create a digital forex pockets for funds.
A Conflict in Court docket
Playboy Enterprises, the mother or father firm behind the marquee grownup journal, has filed a lawsuit in opposition to International Blockchain Applied sciences (GBT) within the Los Angeles County Superior Court docket in accordance to LA Occasions.
Reportedly, the mother or father firm of the favored grownup journal seeks unspecified compensation in addition to punitive damages, alleging GBT of fraud and breach of contract. Playboy claims that the tech firm didn’t execute on their settlement concerning the mixing of blockchain know-how into Playboy’s media channels.
Nonetheless, the defendant has purportedly dismissed the lawsuit as nothing greater than a “regular dispute”, whereas additionally including that:
International believes it has a robust protection to the motion and can be vigorously defending identical.
In accordance with the world-renowned firm, GBT has not solely didn’t make good on their deal but additionally didn’t pay some $four million which had been additionally promised as a part of their settlement.
Playboy’s Foray into Cryptocurrencies
Again in March, Hugh Hefner’s firm introduced that it’s creating a digital pockets which is designated to help a big selection of cryptocurrencies throughout the web media channels of Playboy.
On the time, Reena Pate, COO and Head of Operations of Playboy Enterprises, stated: