Playboy Sues Company Behind VIT Token

Playboy Enterprises, the parent company of the iconic adult magazine and various entertainment platforms, is taking legal action against Global Blockchain Technologies for breach of contract.

According to reports, the lawsuit has been filed in Los Angeles County Superior Court. Playboy alleges that the Canadian company has not fulfilled its obligations under an agreement to incorporate the Vice Industry Token (VIT) on Playboy’s websites. Additionally, Playboy claims that Global Blockchain Technologies has failed to pay the promised amount of $4 million.