KEY POINTS

  • Kreation Technologies claims Tyga signed a $500,000 NFT project deal
  • He reportedly agreed to handle the design, production, marketing, sale and distribution of the digital collectibles
  • The company has accused Tyga of breach of contract for 'ghosting' the NFT initiative

American rapper Michael Ray Nguyen-Stevenson, known by his stage name Tyga, is facing a lawsuit filed by Kreation Technologies, which claimed that he bailed on a $500,000 Non-Fungible Token (NFT) project.

The company has accused Tyga, 32, of breach of contract for "ghosting" the NFT initiative, media reports say. The rapper reportedly received a $100,000 signing bonus for the project and he committed to handling the design, production, marketing, sale and distribution of the digital collectibles.

As per legal documents obtained by The Blast, Tyga apparently entered a deal with Kreation Technologies to come up with three sets of NFTs. Aside from committing to handling the design and distribution, the rapper reportedly agreed to use and incorporate his "name, image, likeness, music, and artwork" in the said collection.

Tyga
Tyga attends the Def Jam Pre-Grammy 2019 party at Catch LA sponsored by Courvoisier, Puma, Klasse 14 and Tik Tok in West Hollywood, California, Feb. 8, 2019. Getty Images/Presley Ann

The deal also included three drops, the first one involved 10,000 NFTs, the other with 75 unique Non-Fungible Tokens and one exclusive NFT to be sold to a buyer. According to Kreation, it was critical to the project's success that the American rapper utilized "his status and public following to endorse and gain exposure."

The issue, according to Kreation, is that Tyda did not hold his end of the deal. The American rapper did not only fail to post about the NFT initiative on his social media accounts like Instagram and Twitter, but he also canceled media interviews and appearances on Twitter Spaces and Reddit's Ask Me Anything (AMA), the company claimed.

It claimed that on the day of the NFT drop, Tyga did not promote the art on his social media accounts. He also did not "materially participate in the promotion and marketing of the project."

In a press release in June, Kreation announced the "Ten Thousand TYGA," which was described as "the superstar's latest foray into the NFT space and his first into the world of contemporary CryptoArt."

The press release also noted, "The Metaverse-ready collection, comprising 10,000 unique NFT artworks, is the creative vision of TYGA, whose long-standing fascination with the pharaonic tombs of ancient Egypt has found strong expression in other creative projects. Infused with hip-hop cool and a rich, techno-futuristic vibe, this NFT collection came to life through TYGA's close collaboration with HOFA Gallery artists Bran Symondson, 25m42 and Leo Caillard."

The case is currently ongoing and Tyga has yet to respond to the lawsuit.

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