Tyga is fighting back against a lawsuit.
Back in 2022, the rapper was sued for a breach of contract on a $500,000 NFT (non-fungible token) project by Kreation Technologies, according to Benzinga.
Under the alleged contract, Tyga was to use his name, image, likeness, and music to create, sell, and distribute NFTs. What’s more, he supposedly received a signing bonus of $100,000.
Now, according to court documents, Tyga is dismissing the U.K.-based company’s claims, HipHopDX reports.
According to a report from the outlet, Kreation Technologies agreed to pay him a minimum of $500,000, out of which $100,000 was due within two days of executing the deal. The remaining amount would be paid in installments upon completion of various contractual requirements. Kreation’s payment structure involved recouping the initial $500,000 before giving Tyga additional percentages of the profits.
While there seems to have been an initial agreement at hand, the company claims that Tyga failed to follow through on his end by not creating Instagram and Twitter posts to promote the NFTs. His alleged failure to do so is said to have caused Kreation Technologies to delay its NFT releases and ultimately shut down the project.
However, Tyga claims that he wasn’t the cause of the project’s failure and is requesting for the ongoing case to be dismissed.
“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,” his claim reads, per Radar Online. “[Kreation] now seeks a bailout for its failed investment and sued NSMG and [Tyga].”
The lawsuit is yet another that Tyga was involved in from 2022.
As previously reported by AfroTech, Tyga joined sneaker brand MSCHF for its “Wavy Baby” sneakers. Vans sued the creative partners for “trademark infringement, false designation of origin and unfair competition, in addition to trademark dilution.”
