PlayBoy sued for a blockchain startup for termination of the contract on integration Vice Industry Token

PlayBoy sued for a blockchain startup for termination of the contract on integration Vice Industry Token

PlayBoy publishing house which activity stretches for many areas of media business for adults, sued the blockchain startup that made the decision to break the contract, signed several weeks ago. According to the lawsuit, filed in early August, earlier in March, Playboy Enterprises and Global Blockchain Technologies (GBT) decided to sign a Memorandum of understanding (MOU).

A Memorandum of understanding was signed by both companies to help Playboy to integrate the so-called Vice Industry Token (VIT) on different platforms owned by the company. The main goal was to reward the audience to its own token for watching videos, writing reviews or performing different tasks.

In addition, Playboy announced the holding of token sale and add to your web site cryptocurrency wallet, to allow users not only waste, but also to earn. In may the company GBT announced that is working with PlayBoy with the intention to integrate a digital wallet to VIT the website Playboy.tv.

The agreement stated that the GBT is obliged to provide free of charge technical support PlayBoy. In addition, the company also must pay $ 4 million for use of the brand Playboy for your PR.

Also the goals of the GBT included the removal of any pornographic allusions and references from the Vice Industry Token and “rebranding resource that he was more focused on the field of video entertainment.”

PlayBoy explained that GBT has not fulfilled its technical responsibilities and did not pay $ 4 million. Instead, the GBT used the brand PlayBoy to attract investors.

Sedan, Guran, President of the GBT, explained that the Playboy claims have no grounds. Moreover, GBT is ready to defend its name in court.

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