Tyga has responded to a company suing him for allegedly breaching a $500,000 contract to promote an NFT line, denying any culpability and as a substitute accusing them of looking for a bailout for his or her failed product.
According to court docket paperwork obtained by Radar Online on Tuesday (March 14), Tyga has moved to dismiss all claims from the UK-based company, Kreation Technologies.
Filed in 2022, the lawsuit accuses each Tyga and a media firm that brokered the deal of breach of contract and promissory fraud.
Kreation alleges Tyga agreed to take part in four NFT drops, with every one including certainly one of three distinctive NFT collections that were to be created by the “Dip” rapper. The company claims it agreed to pay him a $500,000 minimum with $100,000 due within two days of the deal being executed, then the remaining balance in items as he accomplished totally different requirements from the contract.
On the back-end, Kreation would first recoup on its $500k, then pay Tyga extra percentages off profits past that. But apparently, Tyga didn’t make any of the required social media posts, nor did he participate in any other promotion or creation of the NFTs.
While it released the first drop, Kreation scrapped the remainder of the venture due to Tyga’s lack of participation.
For his half, Tyga stated he was not answerable for Kreation’s failure to launch a profitable NFT project.
“The Agreement turned out to be a bad deal for [Kreation] not because of any actions or non-performance of [Tyga] but because the cryptocurrency market loudly and publicly crashed during the term of the Agreement. [Kreation] now seeks a bailout for its failed investment and sued NSMG and [Tyga],” his filed response reads.
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Tyga argued he was not a party to the deal in query and due to this fact must be dismissed. The case remains ongoing.
Unfortunately, Tyga isn’t any stranger to lawsuits. Earlier this 12 months, he made headlines for reportedly failing to pay up on a seven figure lawsuit he misplaced for defaulting on payments on a pair of unique sports vehicles he purchased in the mid-2010s.
In 2022, Tyga’s “Wavy Baby” sneaker collaboration with MSCHF was sued by Vans for allegedly ripping off their signature sneaker silhouette.
A Brooklyn federal decide in the end sided with Vans and banned future sales of the sneaker while granting an injunction in opposition to Tyga and MSCHF.
Before that, Midway Rent a Car filed a lawsuit in 2019 claiming Tyga owed $441k for a Ferrari and a Rolls-Royce – not to be confused with the earlier suit over vehicles. The Cali native eventually agreed to a payment plan, and each automobiles had been reportedly repossessed.