RATE Group | Playboy Sues Cryptocurrency Company for Breach of Contract
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Playboy Sues Cryptocurrency Company for Breach of Contract

14 Aug Playboy Sues Cryptocurrency Company for Breach of Contract

Posted at 23:56h in Cryptocurrency News by

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playboy cryptocurrency

Playboy Enterprises, the parent company of Playboy Magazine, is suing cryptocurrency company Global Blockchain Technologies (GBT) on allegations of fraud and breach of contract, according to a report from L.A. Times.

The company had announced a partnership with GBT earlier in March, upon revealing that it was developing an online payment wallet with cryptocurrency support across its chain of businesses.

The idea was to trial the adoption of a new cryptocurrency called Vice Industry Token (VIT) with a new wallet on Playboy.TV before expanding to other entertainment media channels and platforms owned by the company. The lifestyle brand had also suggested that customers will be able to earn and pay Vice tokens to view content, as well as to comment and vote for content.

According to the report in L.A Times, Playboy Enterprises had filed a lawsuit in the Los Angeles County Superior Court, where it claimed to have entered an agreement with Canada-based GBT to implement the…

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