Playboy Sues Canadian Blockchain Agency for Fraud and Breach of Contract

Playboy Sues Canadian Blockchain Agency for Fraud and Breach of Contract

Playboy Enterprises is suing Canadian firm International Blockchain Applied sciences, claiming that it didn’t combine the Vice Business Token on Playboy’s websites. Beverly Hills-based Playboy Enterprises is suing Canadian agency International Blockchain Applied sciences (GBT), claiming that it didn’t combine blockchain expertise into Playboy’s on-line media channels, the Los Angeles Instances reported August 14. Playboy


Playboy Enterprises is suing Canadian firm International Blockchain Applied sciences, claiming that it didn’t combine the Vice Business Token on Playboy’s websites.

Beverly Hills-based Playboy Enterprises is suing Canadian agency International Blockchain Applied sciences (GBT), claiming that it didn’t combine blockchain expertise into Playboy’s on-line media channels, the Los Angeles Instances reported August 14.

Playboy Enterprises reportedly filed a lawsuit in Los Angeles County Superior Courtroom, accusing the Canadian firm of fraud and breaching a contract, which the 2 corporations drew in March.

Per the phrases of the settlement, GBT would combine the Vice Business Token (VIT) on Playboy’s media websites. Playboy mentioned that the blockchain agency not solely failed to satisfy the necessities, but in addition omitted a fee of $four million it promised within the settlement.

Now, Playboy is in search of compensation, the quantity of which has not been disclosed. GBT dismissed the lawsuit as a “regular dispute” between two companies, saying that the cost of fraud is “frivolous.” The corporate advised the Los Angeles Instances:

“International believes it has a robust protection to the motion and might be vigorously defending similar.”

In March, Playboy first introduced its plans to develop a web-based pockets that might allow clients to make use of crypto to pay for the corporate’s on-line media and help the Vice Business Token. Later in Might, GBT introduced it was engaged on the Playboy pockets, together with an interface to numerous platforms.

VIT raised $22 million in Ethereum within the first 24 hours of its Preliminary Coin Providing (ICO). The blockchain-powered platform for the grownup business rewards viewers on websites with VIT for watching content material.

The grownup leisure business has been step by step adopting digital currencies. In April, streaming web site Pornhub partnered with cryptocurrency Verge (XVG) to simply accept the coin as a fee choice for Pornhub purchases. Pornhub Vice President Corey Value mentioned in a press launch:

“Historical past has confirmed that the grownup leisure business performs a crucial function in adoption for revolutionary expertise. We noticed that with VHS, Beta Max, bank card fee icons and, most just lately, VR goggles. We count on to see widespread adoption of crypto and blockchain briefly order.”



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