Tyga Accuses Company Suing Him For Failed $500K NFT Of Seeking ‘Bailout’

Tyga has responded to a company suing him for allegedly breaching a $500,000 contract to promote an NFT line, denying any culpability and instead accusing them of seeking a bailout for their failed product.

According to court documents obtained by Radar Online on Tuesday (March 14), Tyga has moved to dismiss all claims from the UK-based company, Kreation Technologies.

Filed in 2022, the lawsuit accuses both Tyga and a media company that brokered the deal of breach of contract and promissory fraud.

Kreation alleges Tyga agreed to participate in four NFT drops, with each one including one of three unique NFT collections that were to be created by the “Dip” rapper. The company claims it agreed to pay him a $500,000 minimum with $100,000 due within two days of the deal being executed, then the remaining balance in pieces as he completed different requirements from the contract.

On the back-end, Kreation would first recoup on its $500k, then pay Tyga additional percentages off profits beyond that. But apparently, Tyga didn’t make any of the required social media posts, nor did he participate in any other promotion or creation of the NFTs.

While it released the first drop, Kreation scrapped the rest of the project because of Tyga’s lack of participation.

For his part, Tyga said he was not responsible for Kreation’s failure to launch a successful NFT project.

“The Agreement turned out to be a bad deal for [Kreation] not because of any actions or non-performance of [Tyga] but because the cryptocurrency market loudly and publicly crashed during the term of the Agreement. [Kreation] now seeks a bailout for its failed investment and sued NSMG and [Tyga],” his filed response reads.

Tyga argued he was not a party to the deal in question and therefore should be dismissed. The case remains ongoing.

Unfortunately, Tyga is no stranger to lawsuits. Earlier this year, he made headlines for reportedly failing to pay up on a seven figure lawsuit he lost for defaulting on payments on a pair of exotic sports cars he purchased in the mid-2010s.

In 2022, Tyga’s “Wavy Baby” sneaker collaboration with MSCHF was sued by Vans for allegedly ripping off their signature sneaker silhouette.

A Brooklyn federal judge ultimately sided with Vans and banned future sales of the sneaker while granting an injunction against Tyga and MSCHF.

Before that, Midway Rent a Car filed a lawsuit in 2019 claiming Tyga owed $441k for a Ferrari and a Rolls-Royce – not to be confused with the earlier suit over cars. The Cali native eventually agreed to a payment plan, and both vehicles were reportedly repossessed.