Playboy sues blockchain startups for blocking their payment projects

Playboy sues blockchain startups for blocking their payment projects. The BLOC in the sights of the softcore giant ...

Playboy sues blockchain startups for blocking their payment projects - playboy3

Playboy Enterprises, the company it belongs to Playboy, the most famous softcore erotic magazine in the world, sued a startup of blockchain for fraud and breach of contract after failing to comply with its plans to favor a digital currency payment service.

The Los Angeles Times reports that a lawsuit would have been filed with the local County Superior Court. The item? It is claimed that the Global enviroment Blockchain Technologies (BLOCK) has failed to meet the requirements of an agreement to supplement the vit (Vice Industry Token) of cryptocurrency with the Playboy online pornography platform.

In fact, a contract had been signed in March that would have favored the adoption of VIT as an authorized payment method, with the company BLOC which would have transformed it into a ecosystem tokenized that would reward users for interacting through that tool. An official BLOC press release, released in May, specified that it was "developing the cutting edge of a digital wallet", allowing users to pay for Playboy's online content with criptovaluta, and even get rewards for watching "bold" videos.

Global Blockchain Technologies (BLOC)

[BLOC] is pleased to announce that it will collaborate with Playboy Enterprises Inc. ("Playboy") to develop a digital portfolio that will allow the integration of Vice Industry Token ("VIT") into the multimedia portal of The combination of content with VIT engagement monetization technology will allow users to get paid for watching video content; the company and Playboy will usher in a new era of media consumption that will enrich viewer engagement and shift the dynamics of online media power - unbalanced - to the benefit of the public. The two companies are also exploring potential additional uses (...)

supported the release.

Playboy he claims that no part of the project has actually been translated into reality, thus claiming reimbursement for damages. The LA Times reports that BLOC had even agreed to pay Playboy $ 4 million to integrate with its technology: money that never came. However, VIT is not there, and responds promptly that in reality the agreement has been respected, denying any wrongdoing and describing the cause as "frivolous".

Regardless of whether the cause is legitimate, the scandal highlights the risk that large companies face when entering the cryptocurrency market with too much superficiality, considering that this technology has not been tested on a macro scale.