Playboy sues blockchain company for breach of contract
Playboy Enterprises, the US adult entertainment business, is attempting to sue Canada’s Global Blockchain Technologies (GBT) for failing to integrate its technology across Playboy’s online media channels.
After announcing its intentions in March to create an online wallet enabling users to pay for its services with the vice industry token (VIT), it appointed GBT in May to develop the wallet and interface with its various online platforms.
But Playboy contends that the Canadian firm failed to fulfil the requirements of the agreement, accusing it of fraud and breach of contract, which included the omission of a $4m payment promised in the agreement.
GBT said in a statement to the LA Times: “Global believes it has a strong defence to the action and will be vigorously defending same.”
Playboy declined to comment.