August 15, 2018By Robert Johnson
“BLOC is pleased to announce that it will work with Playboy Enterprises Inc. to develop a digital wallet that will enable the integration of Vice Industry Token (VIT) into the Playboy.tv web media portal. The combination of Playboy.tv’s content with VIT’s engagement-monetization technology will allows users to get paid just for watching video content; the Company and Playboy will usher in a new era of media consumption that will enrich viewer engagement, and shift the imbalanced online media power dynamic to benefit the audience. The two companies are also exploring potential additional uses for cryptocurrency-powered businesses in the future.”See more for yourself, here. So, what happened? In short, BLOC bottled it. According to The Next Web, BLOC didn’t manage to meet any of the criteria listed by Playboy and therefore have failed to actually provide the company with any of the required service. As a result, Playboy have filed for a lawsuit against BLOC, within the Los Angeles County Superior Court. A part of the agreement by BLOC allegedly agreed that BLOC would also make a payment of $4 million to Playboy in order to be able to fully integrate with the Playboy brand, a payment that was never made in the end. Now, Playboy want to see full compensation for damages caused by the failed project. According to The Next Web:
“BLOC has publicly denied any wrongdoing, describing the lawsuit as frivolous. It’s been quoted as saying BLOC believes it has a strong defense to the action and will be vigorously defending.”Has this all been blown out of proportion? I feel like perhaps Playboy should be trying to work with BLOC here to see what is going on, in order to determine why things aren’t going to play. By taking them to court, they are only going to cause tension and cause other blockchain companies to worry about working with them in the future. If Playboy really want to develop a working crypto platform for their websites, then they need to work on it and not battle the industry that is trying to help them, With that in mind though, we also have no idea how BLOC have presented themselves, therefore Playboy’s moves could be totally justified.