Nov 19, 2019
Gemini Expands into Non-Fungible Tokens (NFTs) with Nifty Gateway™ Acquisition
Today, we are excited to announce that we have made our first acquisition!
Cryptocurrency is ushering in the future of money — it’s also enabling the future of digital goods and collectibles. As part of our mission to build the future of money, we are building bridges into these new digital economies. To that end, we have purchased Nifty Gateway™, a popular platform where you can buy and manage non-fungible tokens (NFTs).
What is an NFT? NFTs — also known as “nifties” — many of which follow the ERC-721 standard for tokens, are cryptographic tokens that represent a unique asset or good on the blockchain. Nifties differ from fungible cryptocurrencies like bitcoin in that each nifty is one-of-a-kind and, therefore, not interchangeable. As a result, nifties are the perfect digital, form factor for crypto-collectibles, crypto-art, and much more.
Why Nifties? There are many collectibles in the “real” world such as stamps, baseball cards, Magic: The Gathering cards, and Tamagotchi pets, to name just a few. There are also examples of digital collectibles inside popular online games such as Fortnite, Overwatch, and World of Warcraft, with multi-billion dollar economies emerging as players buy and trade skins, dances, and other in-game items. Over time, we believe that both real world and digital collectibles will migrate onto blockchains in the form of nifties.
Why Nifty Gateway? Nifty Gateway provides a simple and easy way to buy nifties with your credit or debit card. Founded by twin brothers Duncan Cock Foster and Griffin Cock Foster, the platform currently facilitates nifty purchases for some of today’s most popular crypto-games and applications, including CryptoKitties, OpenSea, and Gods Unchained. Duncan and Griffin’s passion (quite frankly “obsession”) for nifties, crypto, and building intuitive products made them the perfect fit for the Gemini family. Together, the Nifty Gateway platform can leverage Gemini’s brand of security and trust.
To learn more about Nifty Gateway and buy nifties click here.
Onward and Upward,
Tyler Winklevoss, CEO