Item 1.02 Termination of a Material Definitive Agreement.

As previously reported, on May 19, 2021, Gaming Technologies, Inc. ( the "Company") entered into a non-exclusive License Agreement (the "Agreement") with Playboy Enterprises International, Inc. ("Playboy") to use certain trademarks (including the rabbit head logo) and other intellectual property of Playboy on and in connection with the design, creation, promotion, marketing, advertisement, sales, operation, maintenance and distribution in India of real-money game mobile apps, such as rummy, poker, fantasy sports and other games of skill approved by Playboy. We agreed to pay Playboy as a royalty a percentage of net gaming revenue. The term of the Agreement was through the end of 2025, subject to early termination upon certain events of default including failure to meet certain annual minimum net gaming revenue targets. A Playboy-branded game was launched in India on November 1, 2021.

On August 1, 2022, the Company received from Playboy a Notice of Termination of the Agreement. The Company failed to meet the minimum net gaming revenue requirement in 2021. The Company must discontinue all operation and availability of the Playboy-branded game as of September 30, 2022.

The foregoing description of the Agreement is a summary and is qualified by reference to the full Agreement, which was filed as Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, and is incorporated herein by reference.























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