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Mary Brendah
Nov 20, 2019
by Mary Brendah

Winklevoss Twins Purchases Digital Collectibles Startup, Nifty Gateway

Winklevoss
Cryptocurrency entrepreneurs Tyler and Cameron Winklevoss just made their first-ever acquisition on November 19, and the duo behind the company they bought couldn’t be more similar. Duncan and Griffin Cock Foster 25,who owned Nifty Gateway, are also identical twins.  

The U.S based crypto exchange and custody provider, Gemini led Winklevoss brothers, has purchased Niffy Gateway, a startup that facilitates the sales of non-fungible tokens (NFT).

Moreover, Nifty Gateway allows customers to buy non-fungible tokens from crypto games; including CryptoKitties and Gods Unchained using credit and debit cards. These NFTs represent the ownership of certain digital assets; such as digital pets, art, stamps, and in-game items such as skins, dances, and weapons. 

Furthermore, the two sets of twins agreed over their belief in the future of so-called nifties. A niftie may be a cat from the CryptoKitties game, in which players breed the digital felines, or a token representing ownership in art, stamps and comic books; -- an asset that is being kept track of through a digital ledger and is tradeable. In addition, to purchase such a collectible, people typically have to open digital currency wallets, buy cryptocurrency on an exchange.

According to Duncan Cock Foster:

‘There is a lot of infrastructure that we need in order to build something on the scale that we are imagining. It would be time consuming and tedious to build on our own. But by teaming up with Gemini, we get instant access to a lot of critically important technologies that we would not have otherwise.’

Crypto-collectibles gaining popularity

In conclusion, Crypto-collectibles are slowly making their way into the mainstream. The launch of projects such as CryptoKitties and sports teams and organizations embracing the new technology; the technology is gradually becoming famous. According to True Global Ventures 3d founder Dusan Stojanovic; the time to invest in crypto collectibles is “right now.” Stojanovic said:

'I am really bullish about gaming and non-fungible tokens [...] CryptoKitties was the start. I think the timing is right now, way before five years [from now].'

 

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Winklevoss Twins Purchases Digital Collectibles Startup, Nifty Gateway
Mary Brendah
My first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.