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Gemini exchange makes its first acquisition aimed at crypto collectibles



Gemini exchange makes its first acquisition aimed at crypto collectibles
Source: Pixabay

The founders of Gemini crypto exchange, Tyler and Cameron Winklevoss announced the duo’s first ever acquisition. The information was made public through a tweet from Tyler Winklevoss, which read,

“We just made our first acquisition! Please welcome Nifty Gateway, founded by Duncan Cock Foster and Griffin Cock Foster, to the Gemini family! ??”

Interestingly enough, Nifty Gateway, which the Winklevoss’s Gemini Trust Co. bought for an undisclosed sum, lets anyone pay for nifties with a credit card, via a streamlined experience similar to checking out through Amazon.

According to the source, the company currently lets people buy nifties from Open Sea marketplace and CryptoKitties and Gods Unchained games, although its customer numbers or payment volume remain undisclosed. The Winklevoss twins expect that the market for nifties will be as big as the collectibles, art and gaming markets combined. Tyler Winklevoss said,

“We believe in this future where all your assets will be on a blockchain and you may want to buy, sell and store them, and Nifty fits that vision.”

While initially Gemini, with more than 220 employees, and Nifty, with three workers, will continue to operate as stand-alone companies, experts speculate that some of Nifty’s features could make way into Gemini services in the near future.

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Arijit is a full-time journalist at AMBCrypto, who focuses on the XRP and Ethereum ecosystem. Leveraging over three years of experience in media and Majoring in Computer Science, he covers the technical developments in the crypto ecosystem

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