Playboy is suing cryptocurrency company Global Blockchain Technologies for allegedly failing to “uphold an agreement,” involving a plan to offer “vice industry tokens” to purchase access to adult entertainment on Playboy‘s platform.
According to Business Insider, Playboy alleges that Global Blockchain Technologies “failed to uphold an agreement to incorporate its technology into Playboy’s media platforms,” after the agreement was announced in May.
“BLOC said that it had plans to integrate a token called Vice Industry Token into Playboy TV’s platform so that users could get paid in cryptocurrency to watch adult entertainment and pay for content in digital currency,” Business Insider explained, adding, however, that the project never came to fruition.
Playboy also claims that Global Blockchain Technologies has yet to pay $4 million, which it owes, to the company.
Earlier this year, Playboy abandoned Facebook, which the company called “sexually regressive.” “Facebook’s content guidelines and corporate policies continue contradicting our values. We’ve tried to craft our voice for the platform, which in our opinion continues to be sexually regressive,” expressed Cooper Hefner. “Learning of the recent meddling in a free U.S. election further demonstrates another concern we have of how they handle users’ data — more than 25 million of which are Playboy fans — making it clear to us that we must leave the platform.”
You can read the full report at Business Insider.
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