Game development studio Neon Machine Inc. urged a New York federal court to dismiss a suit brought by an investment fund specializing in virtual “real estate” over the company’s alleged failure. In its motion to dismiss the suit on Monday, Neon Machine said Realm Metaverse Real Estate Inc. was notified in 2024 that the expected delivery of …
Neon Machine Inc., a game development studio, has urged a New York federal court to dismiss a lawsuit filed by Realm Metaverse Real Estate Inc., a fund focused on virtual real estate. In its motion to dismiss, Neon Machine contends the plaintiff was informed in 2024 of the expected NFT delivery timelines, weakening the claims at issue.
The company argues that timely notice of delivery schedules before any alleged breach undermines the core basis of the suit. Neon Machine maintains that the plaintiff’s knowledge of timelines defeats the assertion of failure to deliver, which is central to liability in the case. Whether the court grants the motion will determine if the action proceeds. The filing highlights the ongoing legal dispute over NFT-based real estate in the metaverse and the threshold for breach in such arrangements.)
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