G2 Esports has filed a lawsuit against the non-fungible token (NFT) platform Bondly, alleging the NFT provider misled G2 when the two organizations partnered in June 2021 to create several NFT drops for the esports brand.
As reported by the Washington Post, G2 filed the lawsuit in the Los Angeles County Superior Court and is seeking more than $5.2 million in damages. The esports organization claims it and Bondly agreed to a two-year partnership in which Bondly would have access to G2’s intellectual property in exchange for a series of G2-related NFTs and millions of dollars in annual rights fees and guarantee advances.
G2 alleges Bondly informed G2 shortly after it sent the first rights fee invoice that Bondly could not keep up its end of the deal. G2 also claims Bondly attempted to pause and subsequently terminate its agreement with G2, although the esports organization allegedly pushed back in both instances.
Bondly, which previously partnered with the likes of singer Lewis Capaldi and internet personality Logan Paul to create NFTs, claims on its website to “execute every step of the process to bring authenticated digital-first goods to the market in music, entertainment, gaming and collectibles.”
When the Bondly partnership was announced in June 2021, G2 CEO Carlos Rodríguez said on Twitter that “it’s easy to hate on NFTs due to previous catastrophic cash grab attempts from weasels,” but that G2 was “doing this for the right reasons and will be around for decades to come.”
Links to G2’s website with supposed details of the partnership and the NFTs result in 404 errors. The Washington Post reported that neither G2 nor Bondly responded to its requests for comment.