G2 Esports, a European gaming organization, recently filed a lawsuit against Bondly, claiming over 5.2 million in damages. In the filling, G2 accuses Bondly of misleading the Esports organization of its capabilities of executing deadlines. In addition, G2 has stated the NFT solutions provider has failed to deliver annual payments for using G2’s brand identity.
G2 Esports vs Bondly
According to the filling, G2 accused Bondly of intentionally feeding their team false information. Including updates on their capabilities to deliver.
“Bondly and its agents knew that their representations were false when they made them, or made the representations recklessly. They knew they could not perform, but cunningly waited until G2 had publicly announced its partnership with Bondly to its millions of fans to reap the benefits of publicity through the highly valuable G2 brand.”
Last year, G2 and Bondly signed a two-year partnership to release G2’s NFTs on Bondly’s platform the following month. As G2’s acting sales agent and developer, Bondly was tasked with using the brand’s identity to create a series of G2-Branded NFTs. As part of the agreement, Bondly agreed to annual payments of 2 million and an “advanced guarantee” of 1.25 million.
In early 2022, G2 deleted their press release with Bondly from their official website after announcing a new partnership with Metaflex. With no mention of their current relationship with Bondly, the recent lawsuit says enough regarding the two companies’ partnership. While G2 moves forward with a new NFT focused partnership, the present case with Bondly is still evolving.
“This might be the first large lawsuit between an esports brand and a blockchain-related company, at least publicly. This is a significant allegation and large damage claim allegedly being brought by G2 against a prominent NFT platform. It’s certainly worth keeping an eye on the result of this and what rippling effects it could have for G2, Bondly, and NFTs in esports.”- Esports Insider