Court Protection Now Spans Two Jurisdictions as 44% of Token Supply Moves to Court-Appointed Custodian
GIBRALTAR--(BUSINESS WIRE)--Ready Makers Inc. secured another significant legal victory when the Supreme Court of Gibraltar issued a comprehensive freezing order on February 4, 2025, requiring the preservation of over 450 million $PLAY tokens—representing more than 46% of the token's maximum circulating supply. On February 11, 2025 in compliance with that order, over 439 Million digital assets were transferred to a court-appointed custodian.
The Gibraltar court order targets Ready Maker (Gibraltar) Limited, operating as PLAY Network, and covers both the 150.4 million tokens claimed by Ready Games and its investors, as well as an additional over 300 million tokens held in Ready Gibraltar's operational wallets. This action builds on Ready Games' earlier victory in Delaware's Court of Chancery, which granted a temporary restraining order on January 3, 2025 requiring Ready Gibraltar to restore Ready Games' access to critical technology infrastructure.
Ready Makers Inc.'s legal action in Gibraltar seeks to recover control of Ready Maker (Gibraltar) Limited, which Ready US established in 2022 as a special purpose vehicle to launch the $PLAY token. The lawsuit names Christina Macedo, Ready Makers' former Chief Operating Officer, as a defendant, alleging she breached trust arrangements by claiming personal ownership of Ready Gibraltar and its assets, including the $PLAY token, which was developed using Ready Makers' technology and investor funding.
"Ready Gibraltar was created by Ready US, using our intellectual property and millions in investor funding, to serve as our token launch vehicle," said David S. Bennahum, Ready Games' Founder. "The Gibraltar court's order is a significant first step in restoring proper control of Ready Gibraltar to its rightful stakeholders and ensuring the $PLAY token ecosystem operates as originally intended for the benefit of all token holders."
"BITKRAFT fully supports this legal action to protect the interests of Ready's stakeholders and the broader web3 gaming ecosystem," said Scott Rupp, Founding General Partner of BITKRAFT Ventures. "The Gibraltar court's intervention, following the Delaware court's order, demonstrates that international courts recognize the serious nature of Ready's claims over its IP and digital assets and to the ownership of Ready Gibraltar. These protections are essential for maintaining trust and proper governance in the web3 gaming sector."
Ready Games, backed by prominent investors including BITKRAFT Ventures, Take-Two Interactive Chairman Strauss Zelnick, Comcast Ventures, and angel investor Jason Calacanis, had raised $8.5 million to develop technology enabling game publishers to integrate blockchain features into existing games.
The Gibraltar court's order also prevents any attempt to redomicile either Ready Maker Gibraltar or the $PLAY token, providing additional protection for Ready Games' intellectual property, ownership claims 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.
About Ready Makers Inc.
Ready Makers Inc., founded in 2016, and operating as Ready Games, develops technology that enables game publishers to seamlessly integrate blockchain features into existing games. The company's investors include gaming and media industry leaders Take-Two Interactive Chairman Strauss Zelnick, BITKRAFT Ventures, Gilo Ventures, Comcast Ventures, Eldridge Industries, Front Range Ventures, and prominent angel investors such as Jason Calacanis' LAUNCH Fund.
Contacts
Media Contact:
press@bitkraft.vc
BITKRAFT on behalf of Ready Games