Tyga is without a doubt one of the industry’s most popular celebrities. The California native is making news once more, this time for alleged fraud and breach of contract charges. Rapper Tyga is now being sued for breach of contract on a $500k NFT project.
An NFT company sued rapper Tyga for breach of contract in connection with a project. The chart-topper allegedly walked away from a $500,000 chance, in which he was meant to produce a personalized set of digital art pieces based on his picture and likeness.
According to Yahoo! Entertainment, Kreation Technologies claimed that the rapper backed out of the arrangement, putting the $500,000 project on hold. Tyga received a $100,000 signing bonus. The press announcement dated June 16th, 2022, provided evidence that Tyga was formerly associated with it.
“Ten Thousand TYGA’ is the superstar’s latest foray into the NFT space and his first into the world of contemporary CryptoArt with partners Kreation.”
“As the trend for digital memorabilia explodes. TYGA creates a special NFT collection for his fans, inspired by the iconic tombs of ancient pharaohs with a techno-futuristic vibe.”
This announcement came only days after he released a contentious video for YG’s new single, “Run,” which also featured Bia and 21 Savage. According to AllHipHop, the video featured Tyga wearing White Chicks-style wigs and makeup and dancing to the beat while sitting in a bright red Porsche.
The “Too Many” singer was intended to “facilitate the design, creation, production, marketing, sale, and distribution of NFTs in exchange for the use and incorporation of TYGA’s name, image, likeness, music, and artwork,” according to the lawsuit.
Tyga has three “drops” to perform. One of the drops would have contained 10,000 distinct NFTs. Another would include 75 different NFTs. The final drop is a special 1 of 1 NFT production for one big buyer only. The auction was scheduled to begin at 5 p.m. on June 17th on Mafic Eden (BST).
As a result, the artist’s participation was described as “essential to the project’s success.” The complaint also stated that they required Tyga to “use his stature and public following to endorse and obtain attention” in order to help sell the NFTs to fans when they were released.
Tyga’s alleged breach is directly tied to his failure to post about the project on social media, notably Instagram and Twitter, to conduct press interviews, and participate in numerous Twitter Space chats and Reddit “Ask Me Anything” Forums.
Tyga, according to Kreations, did nothing to promote the artists on the day of the drops, failing to “materially participate in the promotion and marketing of the project.” Then again, if an NFT project needs to shell out that kind of money to get a name in front of it, then that might indicate that there isn’t much behind the NFT in terms of a team or utility.
However, Tyga has not yet responded to the controversy. Let’s see how he reacts to the situation. The case has already reached court, and supporters must now wait for the court’s judgment. What’s your thought on the controversy? Stay tuned to Thirsty for more information.
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