Playboy Sues Wallet Developer for Failing to Contain Crypto Around Its Platforms
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What can you think of Playboy suing Global Blockchain Technologies? Do you believe Playboy will find another way to incorporate crypto?
Global Blockchain Technologies made a separate announcement in May that it was “constructing a cryptocurrency wallet for Playboy that can transport VIT” to be integrated into “the Playboy.tv internet media portal site. ” The business also confirmed at the time “the integration of VIT to Playboy.tv and the pocket is defined to be released until the end of 2018. ”
Playboy Sues Canadian Crypto Company
In the suit filed in Los Angeles,” Playboy claims that Global Blockchain Technologies (CSE: BLOC) “didn’t live up into an agreement to incorporate blockchain technologies to Playboy’s online media channels,” the publication elaborated. The Beverly Hills-based company is seeking unspecified compensatory and punitive damages.
The business is developing an online payment wallet which will support lots of cryptocurrencies throughout the company’s online media, casual and digital gambling businesses.
Playboy is reportedly having a Canadian cryptocurrency firm for allegedly failing to incorporate a “wallet which would encourage a range of cryptocurrencies throughout the company’s online media, digital and casual gambling businesses. ” Playboy.tv was likely to be the initial of the company’s platforms to incorporate the new crypto pocket and payment choices.
Launched in April, VIT aims to be a payment medium for its adult, gambling, and cannabis businesses. Its market cap rapidly rose into a high of $1 million after launching but has been falling steadily to just over $1 million today, with each token now values two-thirds of a cent at the time of this writing.
Playboy’s Crypto Integration Plan
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Also see: Yahoo! Japan Confirms Entrance Into the Crypto Space
Both firms made an agreement in March, according to the litigation. Then, Playboy announced:
Playboy stated GBT [Global Blockchain Technologies] hasn’t made good on the agreement and also failed to pay the $4 million it asserted within their agreement.
“Playboy.tv will be the first of the company’s media platforms to incorporate the new digital wallet,” the firm wrote, adding it “may enable the online platform to accept vice business token (VIT), along with other top cryptocurrency tokens, including accessibility to this new ’s private content. ” The crypto pocket is expected to be ldquo;readily available before the conclusion of the year,” Playboy confirmed at the moment. Playboy.tv currently advertises over 80 TV shows and over 2,000 episodes.
Nevertheless, in the lawsuit filed, the LA Times reported: