Mythical Games, a crypto unicorn backed by Andreessen Horowitz, has filed a lawsuit towards 3 former best executives for misusing business assets for individual fundraising functions.
Follow The blockMythical Games filed a lawsuit in California Superior Court in Los Angeles County on December 22 accusing the 3 characters Rudy Koch, Chris Ko and Matthew Nutt, who have been after element of the company’s core crew.
Koch, Ko and Nutt all worked at Mythical Games up right up until final month. Koch is the co-founder of the business, Nutt is the chief executive officer and prospects game studios and manufacturing operations, when Ko is the senior vice president of method and investments.
Mythical Games officially grew to become a unicorn late final yr following hitting a valuation of in excess of $one billion. According to the lawsuit, the business has been awarded the endeavor of raising capital for the new Mythical Ventures fund. The organization then presented the trio to UAE-based mostly Cypher Capital for fundraising functions.
However, these three persons took benefit of Mythical Games’ company program to persuade Cypher Capital to invest in theirs.
Just weeks following leaving Mythical Games, Koch, Ko and Nutt announced the creation of Fenix Games, a new blockchain gaming platform, and announced that they had raised $150 million in funding from Cypher Capital and the Phoenix Group.
Sequence of occasions, Mythical Games reluctantly sued the other 3 persons and asked the defendants to “compensate the wrongful interests” and asked the court to “reward and punish” reasonably.
Mythical Games communications chief Nate Nesbitt declined to comment on the particulars of the lawsuit, but responded by means of e-mail as follows:
“We have always believed in the protection of intellectual property and corporate property. In this case, it is necessary to remedy and protect our business interests, as well as our obligations to employees and investors”.
Before First blockchain game launched On the Epic Games Store, Mythical after closed a $150 million Series C funding round, bringing the company’s valuation to an exhilarating $one.25 billion. Since then, faced with the standard crisis circumstance, Mythical has had issues. Drank two days Chris Ko, Matt Nutt and Rudy Koch all resigned, raising issues about the state of the cabinet, the business laid off ten% of its staff.
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