G2 Esports is suing Bondly over NFT partnership, here’s why
G2 Esports is suing Bondly, its previous partner in a deal surrounding NFTs, for over $5,000,000.
The European esports organization filed a lawsuit in the Los Angeles County Superior Court that alleges the blockchain-focused Bondly misled G2 and failed to deliver key portions of the work, including money. G2 Esports had partnered with Bondly in 2021 in order to produce a variety of NFTs involving G2’s ventures.
Why is G2 Esports suing Bondly?
In the lawsuit, G2 outlines Bondly’s alleged inability to produce what was negotiated and claims significant damages. G2 claims that Bondly immediately said it could not produce an NFT program right after the first invoice for rights use was sent.
The two companies were unable to find an amicable solution. According to G2, this led to Bondly attempting to terminate the contract due to a lack of cooperation.
G2’s lawsuit paints this as deliberate deception Bondly’s part, with the company delivering an over-promise intended to leverage the esports organization’s brand and consumer reach without the possibility of a return for G2. This hasn’t stopped G2 Esports from getting into NFTs however, as the company launched a separate effort in its Samurai Army project, an NFT-focused version of other esports teams’ fan club efforts.
Founder Carlos “Ocelote” Rodriguez was the first to make jokes about the uncomfortable situation by taking to Twitter. Ocelote had previously gone to bat against G2 fans over the Binance chain-hosted NFT effort in collaboration with Bondly. He also deleted a tweet endorsing the company from the time of the partnership’s announcement in the hours after details around the story became public.
Further details may surface if the two sides take their battle to court.
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