Play Network, an on-chain gaming infrastructure platform, has closed out a six-month legal fight with Ready Makers Inc. after Gibraltar's courts delivered multiple rulings in its favor. The conflict began when Ready Makers Inc. representatives—David S. Bennahum, Scott Rupp, and Davidi Gilo—attempted to block Ready Gibraltar, a subsidiary connected to Play Network, from distributing $PLAY tokens.
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Gibraltar Supreme Court Lifts Token Freeze
In April, Gibraltar's Supreme Court removed a worldwide freeze affecting 542 million $PLAY tokens. The court found that Ready Makers Inc.'s case lacked any reasonable prospect of success and characterized the legal action as oppressive. Play Network received approximately $550,000 in indemnity costs, including an immediate interim payment of around $300,000. The court imposed these costs after determining that the claimants had submitted misleading information throughout the proceedings.
Play Network Wins Lawsuit Over $PLAY Token
Appellate Court Reinforces Earlier Decision
Gibraltar's Court of Appeal upheld the April ruling on June 3 and escalated its language, describing the original February 4 freeze as a miscarriage of justice. The appellate judges confirmed that the claimants had no realistic chance of prevailing in their challenge and noted a total lack of supporting evidence. The ruling emphasized that Ready Makers Inc. failed to produce any documentation establishing an ownership interest in Ready Gibraltar's tokens.
Dispute Continues Despite Court Victories
Bennahum stated that the litigation between Ready Makers Inc. and Christina Macedo, Play Network's CEO, has not concluded. He characterized the reversal of the token freeze and the cost orders as procedural developments rather than a definitive outcome. Bennahum asserts that the central issue—whether Ready Makers Inc. holds beneficial ownership in Ready Maker (Gibraltar) Ltd.—remains unresolved, and his company will not provide additional commentary while the case is active.
Play Network's legal team included James Ramsden KC of the Astraea Group, who has worked on other cryptocurrency matters, along with Philippe Kuhn of 39 Essex Chambers, Signature Litigation, and Bull Blockchain Law. Ramsden confirmed that the Court of Appeal discharged both the freezing and trust preservation orders. The claimants now face a damages claim from Ready Gibraltar stemming from their prior court undertakings.
Play Network Wins Lawsuit Over $PLAY Token
Broader Consequences for Web3 Token Projects
Play Network highlighted that the court's conclusions extended beyond procedural matters and addressed larger questions relevant to web3. The judgments observed that Bennahum, Rupp, and Gilo's conduct disrupted Ready Gibraltar's operations and harmed its business standing. The court faulted the claimants for allegedly concealing unfavorable documents and portraying Ready US—which dissolved in 2024—as though it remained operational. The initial freezing order, the court determined, substantially diminished the value and outlook of the $PLAY tokens and caused tangible damage to the business.
Upcoming Legal Actions
Play Network intends to seek further relief in Gibraltar's courts. The company expects to request approximately $2.8 million in security for legal costs and at least $30 million in damages. These claims will be heard by the Supreme Court of Gibraltar in forthcoming proceedings.
The Gibraltar decisions represent a significant shift in the $PLAY token controversy. Although Ready Makers Inc. continues advancing its underlying claims, the courts have repeatedly ruled in favor of Play Network, dismissing the initial efforts to halt token issuance and awarding considerable costs. The case highlights the legal and governance challenges inherent in web3 gaming, particularly concerning token ownership and corporate authority.
