Vegan cryptocurrency causes millionaire loss on Amazon soccer team

Charlie Taylor

Vegan Nation, a vegan marketplace based in the United Kingdom, is being asked by the Justice of Amazonas to pay US $ 600 thousand, equivalent to R $ 3.3 million, to the soccer team Esporte Clube Iranduba, due to an alleged fraud involving a cryptocurrency vegan, vegancoin.The Vegan Nation signed a sponsorship agreement with the club in 2019 for the promotion of the brand. However, it was defined that the company's payment would be made in vegancoins, a cryptocurrency supposedly used in the marketplace for the purchase of vegan products. It was defined that Vegan Nation would pay 1.2 million vegancoins to the Amazon team that, in theory, would have a quotation of 0.50 cents, totaling a payment of approximately US $ 600 thousand dollars. However, according to the team, the token was never released on the market, it is not listed in exchange and has no real value. According to justice:

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It is noticed that the contract was flawed since its genesis, by establishing an unenforceable obligation, due to the lack of liquidity of the vegancoins, to the detriment of the interests of the author, who in turn projected the mark of the defendants and made commitments of all his activity sports in the year according to the sponsorship celebrated.

Amarildo Dutra, club president, during an interview in the newspaper A Crítica, criticized the company's position:

Are we going to use the vegacoins for garnish? When we signed the contract, their representative at the time passed that it would be in May (the entry of the currency into the market). There is no point in passing me worthless coins. They quoted in dollars.

The CEO of Vegan Nation stated that the president of Iranduba knew that the payment would be made in Vegancoins, and that this is not a short-term investment. The company has also entered into contracts with other Brazilian clubs, including Paysandu, Remo and Nacional.Read more: With pressure from Brazilians, SEC puts Bitcoin ETF in discussion in the US

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