NEW YORK, March 11, 2026 /PRNewswire/ — Portkey Technologies Pte Ltd. today announced that the United States District Court for the Southern District of New York has entered a Final Judgment Upon Consent in the action Portkey Technologies Pte Ltd. et al. v. Venkateswaran, delivering a decisive outcome that reinforces the company’s ownership of intellectual property rights and leadership in the Web3 and digital asset ecosystem. The Judgment successfully concludes the litigation, which commenced in June 2023, when Portkey and its founder, Vignesh Sundaresan, filed a complaint asserting claims against Mr. Anand Venkateswaran for, inter alia, trademark infringement, false advertising, reverse passing off and unfair competition.
In the litigation, Portkey and Mr. Sundaresan alleged that Mr. Venkateswaran misused Portkey’s trademarks and misrepresented Plaintiffs’ business operations and successes as that of his own, claiming credit for purchases of NFTs made and/or managed by Portkey, including Plaintiffs’ historic purchase of NFT artwork created by Beeple (known as Everydays: The First 5000 Days) from Christie’s auction house in 2021. From August 2017 through and including February 2022, Mr. Venkateswaran was an independent contractor working for Portkey, who handled marketing and communications for a variety of Portkey’s projects involving NFTs.
The Court’s Judgment formally and completely affirms that Portkey is the rightful owner of the trademarks TWOBADOUR, METAPURSE, and DREAMVERSE, and prohibits Mr. Venkateswaran’s use of Portkey’s trademarks or any colorable imitations thereof in connection with the offering, rendering, and promotion of any goods or services.
The Court also issued a permanent injunction against Anand Venkateswaran and all persons acting in concert or participation with him to the extent their statements are “directed at or accessible to persons in the United States,” prohibiting, inter alia, (a) any statements that expressly or impliedly claim or suggest that Mr. Venkateswaran was or is a founder, owner, steward, fund manager, producer of, or otherwise responsible for establishing, TWOBADOUR, METAPURSE, or DREAMVERSE, and (b) and any statements that expressly or impliedly claim or suggest that Mr. Venkateswaran was responsible for the historic purchase of the “Beeple (b. 1981), EVERYDAYS: THE FIRST 5000 DAYS” artwork or any other NFTs or other digital assets purchased or produced by Plaintiffs.
“The Judgment represents a clear and unequivocal validation of Portkey’s intellectual property, our pioneering work in the ArtTech space, and the integrity of our brand,” said Portkey Founder Vignesh Sundaresan. “It ensures that our contributions—and the value we have created—are accurately recognized and legally protected as we continue to create and build for the future.”
Beyond resolving the litigation, the Judgment delivers several critical outcomes that strengthen Portkey’s position:
- Judicial confirmation of ownership: The Court explicitly recognized Portkey’s exclusive rights to its core brands and trademarks, removing any ambiguity in the marketplace as to the source of the activities and services behind those brands.
- Permanent protection against misuse: The injunction prevents Mr. Venkateswaran and others from misusing Portkey’s valuable intellectual property.
- Correction of public record: The Judgment requires corrective actions by Mr. Venkateswaran to address prior public statements that he and others made in regard to Portkey’s business activities so as to avoid public confusion. This includes a requirement that Mr. Venkateswaran post a public statement across his social media pages, blogs, and websites confirming that: Mr. Sundaresan exclusively purchased the “the Beeple (b. 1981), EVERYDAYS: THE FIRST 5000 DAYS” NFT; Mr. Sundaresan made all decisions regarding the purchase of this and any other NFT for Portkey or Metapurse; and Mr. Venkateswaran did not have any decision-making or management authority over those purchases.
- Reinforcement of founder-led leadership: The Judgment underscores that Portkey’s projects and investments—including major NFT acquisitions—were led by its principal, Mr. Sundaresan.
- Payment of an undisclosed sum: The Judgment also required Mr. Venkateswaran to make a payment to Plaintiffs of an undisclosed sum.
Taken together, these outcomes protect not only Portkey’s legal rights, but also its reputation as a trusted innovator at the forefront of digital art, NFTs, and the evolving ArtTech marketplace.
Portkey has been a defining force in the emergence of digital ownership, cultural NFTs, and metaverse-driven experiences. With this matter resolved in favor of Portkey, the company is well-positioned to continue expanding its platform, partnerships, and creative initiatives into the future.
To view the Final Judgment Upon Consent, click HERE.
To view Plaintiffs’ Second Amended Complaint, click HERE.
To view the public statements posted by Mr. Venkateswaran pursuant to the Court’s Judgment, click HERE.
To view Mr. Venkateswaran’s Report Regarding Compliance With the Final Judgment Upon Consent, click HERE.
To view all of the above documents, click HERE.
About Portkey Technologies
Portkey Technologies Pte Ltd. is a pioneering ArtTech company at the forefront of digital ownership, cultural NFTs, and metaverse-driven innovation—now focused on the intersection of art and technology and exploring the alternative possibilities of blockchain. Through its flagship initiatives—including Metapurse, one of the earliest and most influential NFT investment portfolios, and Dreamverse, a digital culture platform—Portkey has played a defining role in shaping the global conversation around digital art and decentralized value creation.
Led by entrepreneur and digital art patron Vignesh Sundaresan (known online as “Metakovan”), Portkey has been a global leader in advancing mainstream adoption of NFTs, including landmark acquisitions and collaborations that have helped bridge traditional art, technology, and culture. The company continues to develop and support cutting-edge projects at the intersection of creativity, community, and blockchain technology.
For more information, visit https://portkey.sg/.
Contact:
Stephen Lawson
stephen.lawson@dentons.com
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