Gibraltar Supreme Court freezes 450M $PLAY tokens in Ready Games legal fight

MT HANNACH
5 Min Read
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Ready Makers Inc. said he had won a legal victory against his subsidiary Ready Maker Ltd. (Gibraltar) When the Supreme Court of Gibraltar published a freezing on the web tokens that the subsidiary was going to deliver.

The ordinance imposed a complete freezing order on February 4, 2025, requiring the preservation of more than 450 million $ gaming tokens – representing more than 46% of the maximum supply of the token, said Ready Makers Inc. in a press release.

On February 11, 2025, in accordance with this order, more than 439 million digital assets were transferred to a guard appointed by the court.

The ordinance of the Tribunaltar Target Target Ready Maker (Gibraltar) Limited, operating as a game network, and covers the 150.4 million tokens claimed by the Ready games and its investors, as well as more than 300 million additional tokens In the operational portfolios of Ready Gibraltar.

Ready Makers Inc., founded by David S. Bennahum, said that this action is based on the previous victory of Ready Games before the Court of Chancellery of Delaware, which granted a temporary prohibition order on January 3, 2025 demanding that Gibraltar Ready to restore access to Ready Games to Critical Technological Infrastructure.

The legal action of Ready Makers Inc. in Gibraltar seeks to recover the control of Ready Maker (Gibraltar) Limited, which Ready Us created in 2022 as a vehicle for special use to launch the $ play token. The trial names Christina Macedo, former director of the exploitation of the manufacturers of Ready, as a defendant, alleging that she had violated the trust agreements by claiming the personal property of Ready Gibraltar and her assets, including the token $ play , which was developed using the technology and investors of the manufacturers Ready Financing.

In an answer, Macedo declared in an email in Gamesbeat: “These affirmations are baseless and factually incorrect. We remain focused on the progress of the game and the wider ecosystem, supporting our customers and our community. »»

“Ready Gibraltar was created by Ready US, using our intellectual property and millions of funds for investors, to serve as a launch vehicle for token,” said Bennahum, founder of Ready Games, in a press release. “The ordinance of the Gibraltar Court is an important first step in restoring the appropriate control of Gibraltar Ready to its legitimate stakeholders and ensuring that the $ play token ecosystem works as initially intended for the benefit of all chip holders. “

“Bitkraft fully supports this legal action to protect the interests of the stakeholders of Ready and the wider web3 game ecosystem,” said Scott Rupp, general partner of Bitkraft Ventures. “The intervention of the Court of Gibraltar, following the order of the Court of Delaware, demonstrates that international courts recognize the serious nature of Ready’s complaints on its assets of intellectual and digital property and property of Ready Gibraltar . These protections are essential to maintain confidence and good governance in the web games sector3. »»

The ready games, supported by eminent investors, notably Bitkraft Ventures, the interactive president of Take-Two, Strauss Zelnick, Comcast Ventures, and the providential investor Jason Calacanis, had collected $ 8.5 million to develop game publishers Allowing technology to integrate blockchain features into existing games.

The ordinance of the Gibraltar Court also prevents any attempt by Redomicile, the manufacturer of Ready Gibraltar or the Token $ Play, offering additional protection for the intellectual property of the Ready games, property complaints and digital assets.

Ready Makers Inc. is represented in Gibraltar by Keith Azopardi KC and Kelly Power of Tsn Law and in Delaware by Ali Mojibi and Robert C Gianchetti of Covington & Burling LLP.

Ready Makers Inc. was founded in 2016, and it works like Ready Games and develops a technology that allows game publishers to transparently integrate blockchain features into existing games.

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