Blockchains can enable gamers to buy and trade interoperable digital collectibles such as skins, dances, and in-game items, helping further fuel a $50 billion-plus annual market1 for virtual goods.

“Non-fungible tokens and the digital goods (and collectibles) they enable will play a major role in the next era of the digital economy. They are the perfect form factor for crypto-collectibles, crypto-art, and much more – laying the foundation for entirely new multi-billion dollar industries to emerge,” said Tyler Winklevoss, CEO of Gemini. “As Gemini continues to build the future of money, we will partner with or acquire companies led by entrepreneurs that share our mission and core values.

NFT art has exploded in the past year, with certain pieces going for millions. In December, the digital artist Mike Winkelmann, known as Beeple, broke records when made more than $3.5 million in a sale of his NFTs. Two months later, another of his pieces resold on the secondary market for $6.6 million.

On Monday, the artist Pak fetched almost $10 million in a 15-minute auction with Sotheby’s.
Nearly 20,000 of Pak’s “Single Cube” NFTs were purchased in a timed window via an open-edition drop, meaning an unlimited number of NFTs were available to purchase during that time.

The boom in NFTs, or nonfungible tokens, runs parallel to the meteoric rise of Nifty Gateway, the digital-art marketplace powering some of the most anticipated drops in the sector.

We’re excited to be working with Nifty Gateway to extend the reach of crypto across other concepts and build a bridge between NFT creators and the growing ranks of everyday consumers looking to purchase them.”

Founded in 2018 by brothers Duncan and Griffin Cock Foster, Nifty Gateway facilitates nifty purchases for some of today’s most popular crypto-games and applications, including OpenSea, Gods Unchained, and CryptoKitties. With Nifty Gateway, users can purchase NFTs directly with fiat currency using their credit card, like a normal online purchase, making NFTs accessible to anyone.

“Nifties are a fundamentally new type of digital good and are an important tool for ownership as our lives move more and more online,” said Duncan Cock Foster, co-founder of Nifty Gateway.

Combine that with the power of women and what you get is the potential for exponential growth and impact, what we at Seneca Women like to think of as WoFi–where the women’s economy meets Web3,” said Kim Azzarelli, co-founder of Seneca Women. “We are thrilled to partner with Nifty Gateway, Gemini and these exceptional women artists on The Seneca Women Equality Collection, which we hope will bring more women into Web3 and help us all envision a world where equality prevails.”

“At Gemini and Nifty Gateway we are committed to welcoming more women into the crypto and NFT communities, and that starts with education,” said Carolyn Vadino, global head of communications for Gemini. “Seneca Women’s vision for this project directly addresses a lingering challenge in the market we are dedicated to addressing together.

“We’ve had a lot of trouble collaborating in the past, funny enough,” Griffin Cock Foster said of his identical twin andNifty Gatewaycofounder, Duncan Cock Foster. “We rowed crew in high school, and that didn’t go well.”

“We actually flipped the boat,” Griffin recalled.

It’s hard to imagine the Cock Fosters capsizing a boat today, given that their teamwork has yielded a promising startup.

The 25-year-old brothers cofounded Nifty Gateway in 2018, a platform built on blockchain dealing with non-fungible tokens (NFTs), or “nifties.” Their venture into the NFT-space was validated just one year later, when their startup was acquired by another set of identical twins, who happen to also row crew and work in blockchain: Tyler and Cameron Winklevoss.

What are NFTs?

NFTs are digital objects that you can own. A NFT can take the form of digital artwork, for example.

He said this deal was “mutually beneficial.”Market headwinds

Since the platform expects to make revenue from transaction fees, Nifty Gateway would need to attract enough volume to support the five-man team within Gemini. It remains to be seen if there’s enough consumer demand for such digital collectibles.

The Nifty Gateway team estimated NFTs were a $200 million market in 2018, wrongly predicting the collectibles game CryptoKitties would remain a “project to watch” in 2019. CryptoKitties now attracts fewer than 200 weekly users, according to DappRadar, down from the 2017 peak of 14,914 daily active users.
The NFT market is still seeing dismal growth in traditional tech terms.

NEW YORK, Nov. 19, 2019 /PRNewswire/ — Gemini Trust Company, LLC (Gemini), a cryptocurrency exchange and custodian, today announced that a parent company acquired Nifty Gateway™, a popular platform for non-fungible tokens (NFTs, also known as “nifties”) that power the emerging economy of digital collectibles and virtual goods. With this acquisition, Nifty Gateway will now be powered by Gemini’s secure, institutional-grade infrastructure. The move marks the first acquisition by a member of the Gemini group and extends the reach of cryptocurrency into new use cases.

Unlike cryptocurrencies such as bitcoin, nifties are cryptographic tokens that represent a unique asset or good on the blockchain, are one of a kind, and are not interchangeable.

So we sort of immediately fit this need in the NFT community.”

That initial traction with the Gods Unchained community got Nifty Gateway into the Boost VC Accelerator, according to Duncan. The accelerator gave the young entrepreneurs critical support, and what would turn out to be a key introduction.

5 minutes left on Julio Bencid’s auction!

— Nifty Gateway (@niftygateway) July 3, 2020

Enter: the Winklevoss Twins

“It was actually very funny, because Duncan and I were joking about being identical twins who worked together in crypto to the head of the accelerator, Adam Draper,” Griffin said.

Griffin was referencing Tyler and Cameron Winklevoss, the identical twin tech entrepreneurs who entered pop culture parlance through the 2010 filmThe Social Network.

Web3 initiative

NEW YORK, April 18, 2022 /PRNewswire/ — Seneca Women, a global leadership and media platform, is partnering with Gemini-owned Nifty Gateway, a premier marketplace for NFTs, to launch a special collection of NFTs titled The Seneca Women Equality Collection. The collection celebrates female artists and showcases their artistic vision of a world where equality prevails. Seneca Women will invest a portion of the sale proceeds in other women-led Web3 projects.

Aligning to Seneca Women’s mission of advancing women in the economy and supporting women creators, a select group of women digital artists were invited by Seneca Women and Nifty Gateway to contribute limited edition artworks that represent each artist’s unique vision of equality.

The “Bitcoin Billionaire” twins, Tyler and Cameron Winklevoss of the Gemini crypto exchange, now also have a regulated, fiat marketplace for non-fungible tokens (NFTs).

Gemini first acquired Nifty Gateway in late 2019 with Tyler Winklevoss saying in a statement, “We believe that both real-world and digital collectibles will migrate onto blockchains in the form of nifties.” (Winklevoss declined to offer further comment.)

Nifty Gateway founders, the twin brothers Duncan and Griffin Cock Foster, launched the Nifty marketplace on Tuesday, leveraging Gemini infrastructure on the backend for a dollar-exchange platform.

NFT websites likeOpenSea,CryptoKitties, andAxie Infinity. An NFT purchased with Nifty Gateway would then be delivered to the customer’s blockchain wallet of choice.

Nifty Gateway 2.0, which launched in March, provides a full NFT collecting experience. Users can now buy and sell NFTs for fiat currency, and display their collection, all on the Nifty Gateway platform.

Frenetik Void’s auction is at $2,700 with 15 minutes left.

How high will it go???

Bid on the beautiful “Machinations” here:[email protected]/hKhbdkLX1V

— Nifty Gateway (@niftygateway) July 4, 2020

The Origin of Nifty Gateway: Bicoastal twins, Gods Unchained, and the Boost VC Accelerator

Duncan started Nifty Gateway in 2018 with the goal of making it easier to access NFTs by enabling purchases with credit cards, as opposed to cryptocurrency.

Users can either keep their new NFTs as part of their growing digital art collection displayed on the platform, or they can resell their new acquisition on Nifty Gateway’s secondary marketplace to other users who may have missed out on the original drop. Artwork can be marked up exponentially on the secondary marketplace.

Nifty Gateway’s Drop 8 in June featured a particularly popular NFT: an animation by 3D artist Steven Baltay. The piece titled “Take Another Look” features a cream-colored, fleshy mask adorn with gold charms and chains.
Pink droplets drip down the face, which wears an iridescent pink and blue bucket hat.

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