Rapper Michael Ray Nguyen-Stevenson, known as Tyga, has been sued by an NFT company for the break of a 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 chance. 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 previously linked 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.
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. 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 (NYSE:TWTR), 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.
This news is published and verified by the NFT News media team.
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