Kreation Technologies accused the rapper of breaching a $500,000 contract that required him to promote four NFT projects from the Web3 brand.
Tyga has been making most of his headlines of late due to his budding romance with Avril Lavigne, but fortunately, we’re not here to talk about that. Rather, the rapper is now speaking out against Kreation Technologies, a UK-based Web3 company that filed a lawsuit against him in September of 2022.
Kreation accused Tyga, a.k.a. Micheal Stevenson, of breaching a $500,000 contract he inked with them that required the promotion of an NFT collection; the company also named Newstyle Media in the same lawsuit. The filing accuses both Tyga and Newstyle Media of promissory fraud and breach of contract. Kreation Technologies explained to the court that it entered into a deal with Newstyle Media that acted on behalf of Tyga.
Tyga was slated to participate in four NFT drops, and the rapper agreed to help “facilitate the design, creation, production, marketing, sale, and distribution of NFTs” in exchange for the use and incorporation of his name, image, likeness, music, and artwork, court documents show. Kreation Technologies agreed to pay Tyga $500,000 minimum, with $100,000 due up front and the rest of the payments rolling out as he satisfied set requirements. The company also agreed to pay Tyga additional percentages of profits after the company made back its initial $500,000 investment from NFT sales.
The first Pharaoh-inspired NFT collection dropped last summer on digital marketplace Magic Eden and included 10,000 NFTs with a techno-futuristic twist. Kreation Technologies scrapped the rest of the slated NFT projects within the deal, however, after Tyga allegedly failed to promote the first one in question.
Months after the first drop, Kreation took to the courts to claim that Tyga didn’t hold up his end of the deal since he didn’t promote the project across his social media channels. The company also claimed that the artist canceled media interviews and missed other scheduled promotional appearances on platforms like Reddit and Twitter Spaces. Kreation Technologies and Tyga’s partnership started to spiral after NFT sales were down; the company claimed Magic Eden later received a letter from Tyga’s lawyers to remove all NFTs that used the rapper’s likeness.
Tyga is now fighting back by denying wrongdoing and asking a judge to dismiss the claims. In short, the rapper said it’s not his fault that Kreation Technologies failed to launch a successful NFT project, so the company is looking for a scapegoat to help make its money back. Tyga’s legal team is also claiming that the project failed because of the crypto market downturn but didn’t comment on the rapper failing to promote the project as promised.
Up until this point, Tyga’s legal camp didn’t comment on the matter.
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