The rapper Tyga, whose real name is Michael Ray Nguyen-Stevenson, is being sued by an NFT company for breaking a contract on a project.
Kreation Technologies has sued the rapper because he didn’t take advantage of a $500,000 chance, according to Yahoo Entertainment. Tyga was supposed to make a custom set of digital art based on his name, image, music, and likeness.
It was said that the performer had agreed to help with the planning, making, marketing, selling, and distributing of NFTs.
Tyga was given a signing bonus of $100,000 for the NFT project. Tyga used to work on the project, which was first 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.
The lawsuit says that the deal would include three drops: one with 10,000 unique NFTs, one with 75 unique NFTs, and one that would only be sold to one buyer.
Kreation said that it was “critical to the success of the project” for Tyga to “use his status and public following to endorse and gain exposure” for the drops.
An earlier statement described the NFT project as a “highly anticipated Pharaoh-inspired” collection with iconic, “techno-futuristic” pharaonic tombs.
Kreation said that the rapper had broken his promise. He opted not to tweet or post on Instagram about the project, and as a result, he canceled media appearances on Twitter Spaces and Reddit’s “Ask Me Anything” forums.
The company said that the deal falling through caused problems with a new strategic partner they used as an NFT marketplace.
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