Rapper Tyga Sued For Breach Of Contract Over $500K NFT Project

Rapper Michael Ray Nguyen-Stevenson, known as Tyga, has been sued by an NFT company for breach of contract on a project. 

According to Yahoo Entertainment, Kreation Technologies has filed a lawsuit against the rapper as he went ghost on a $500,000 opportunity. Tyga was supposed to create a custom set of digital art offerings around his name, image, music, and likeness. 

The performer had reportedly committed to facilitating the design, creation, production, marketing, sale, and distribution of NFTs.

For the NFT project, Tyga received a signing bonus of $100,000. Tyga was formerly associated with the project, which was announced in June.  

“‘Ten Thousand TYGA’, the PFP NFT collection is the superstar’s latest foray into the NFT space and his first into the world of contemporary CryptoArt with partners Kreation,” the report read. 

Also Read: Tyga partners with charity-based sport watch company

According to the lawsuit, the deal would consist of three drops, one with 10,000 unique NFTs, one with 75 unique NFTs, and a single exclusive one to be sold to one buyer. 

Kreation has indicated that it was “critical to the project’s success” that Tyga “utilize his status and public following to endorse and gain exposure” to the drops.

An earlier announcement mentioned the NFT project was a “highly anticipated Pharaoh-inspired” collection and would feature iconic tombs of accident pharaohs with a “techno-futuristic” vibe.

Kreation accused the rapper of not holding up his end of the bargain. He didn’t post about the project on his Instagram or Twitter, and subsequently canceled media interviews on Twitter’s Spaces and Reddit’s ‘Ask Me Anything forums. 

The company said that the deal falling apart caused issues with a new strategic partner they used as an NFT marketplace.

Photo: Courtesy of Michelle G on flickr

Image and article originally from www.benzinga.com. Read the original article here.