MIAMI - TelAve -- By Atlas CORP.

Atlas Conglomerate of Ridiculous Proportions LLC ("Atlas CORP"), a Florida-based limited liability company, has filed a lawsuit against NFT Technologies, Inc. (NEO: NFTFF) ("NFT Technologies"), a British Columbia corporation, in the United States District Court, Southern District of Florida (Case No. 1:23-cv-22810-RNS).

The complaint, filed on July 27, 2023, alleges breach of contract and seeks declaratory judgment. The suit pertains to the Software Development Sales Contract entered into by both parties on June 7, 2023, for the development of the NFT-based augmented reality game "U.S. Women's Open ArtBall 2023," which was created in partnership with the USGA.

Atlas CORP claims to have fully performed all terms and conditions required, including completing development and delivery of the Product, yet NFT Technologies has allegedly failed to make the required payments set forth in the Contract, owing $127,500 of the total amount.

More on TelAve News

• Robert Fabbio Inducted into the Austin Technology Council Hall of Fame
• Cybersecurity is Protecting Your Personal Information and Your Portfolio
• L2 Aviation Celebrates Grand Opening of New Facility at Cincinnati/Northern Kentucky International Airport (CVG)
• Managing Summer Staffing Surges with Confidence: Why Name Badges Are a Must for Seasonal Success
• Visa Named Title Sponsor of Ascending Athletes' Business Owners Summits for NFL Entrepreneurs

The complaint further alleges that NFT Technologies and its former owner/CEO, Adam De Cata, have misrepresented the ownership of the intellectual property associated with "ArtBall," causing irreparable and inequitable harm to Atlas CORP. ArtBall rose to prominence following its successful endeavor around the 2022 Australian Open Tennis Tournament.

Atlas CORP's legal action aims to hold NFT Technologies accountable for their failure to honor the contract, to declare Atlas CORP as the sole and lawful owner of the collateral, and to seek damages, including attorney's fees and costs. Atlas CORP tried to amicably resolve this matter with Interim CEO & Co-Founder/Executive Chairman Wayne Lloyd.

This lawsuit highlights Atlas CORP's commitment to ethical business practices and serves as a cautionary note to others in the industry who may consider engaging with NFT Technologies, Wayne Lloyd or Adam De Cata.

For further information or inquiries about this matter, please contact Atlas CORP at the principal place of business located at 400 NW 26th Street, Miami, FL 33127.

Atlas CORP is represented by HEITNER LEGAL, P.L.L.C.