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Nifty Gateway, The NFT platform is being sued by Art Collectors

The art collector Amir Soleymani is taking the digital platform Nifty Gateway to the UK’s High Court over the sale of Beeple’s NFT Abundance earlier this year.

“Imagine bidding to win an item, ending up in second place and getting almost the same thing the third bidder gets but with a significant difference in bid amount,” says Soleymani, who was asked to pay $650,000 for the second edition of the work. “This method of auction maximizes revenue for the platform and artists but is damaging to collectors.”

When he refused to pay, Nifty froze his account and blocked access to his assets—around 100 NFTs. In retaliation, Soleymani has instigated legal proceedings in both the UK and US, where the major NFT platform owned by Cameron and Tyler Winklevoss is based.

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