Gemini's Winklevoss’ First FinTech Acquisition, Nifty Gateway, Allows Card Payments for Crypto Collectibles

Winklevoss’s Gemini Trust Co. buys FinTech company Nifty Gateway from identical twins Duncan and Griffin Cock Foster to enable users to purchase crypto collectibles and digital assets with a credit card.

Gemini duo, Cameron and Tyler Winklevoss, have expanded their footprint in the blockchain and crypto space following acquisition of Nifty Gateway. This move will enable card payments for online gaming products, arts and collectibles dubbed ‘nifties’; they operate as blockchain-based tokens.

The interesting thing about this partnership is that both Gemini and Nifty Gateway founders are sets of identical twins. Tyler even said that the fit in vision and background would not have been more perfect. Duncan and Griffin Cock Foster are the two brains behind the Nifty Gateway ideas; the two brothers were looking to ease the tedious process of buying online tokens for utilities like games.

Basically, CryptoKitties game offer ‘nifties’ that users can buy within a blockchain ecosystem for value addition and gaming. The existing networks would only facilitate such a transaction via a crypto coin which means users have to go through an exchange. This will however not be the case with the Nifty Gateway as it’s designed to facilitate instant credit card purchases.

So far, the Winklevoss have not yet disclosed how much the deal was worth but have expressed optimism in the nifties market. Nifty Gateway's idea is expected to enhance user interface experience to levels of Amazon as the online collectibles, art and gaming market grow. Duncan Foster said that the nifties collector market may soon hit 1 billion. Similar sentiments were echoed by Tyler Winklevoss;

“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.”

The two entities may soon merge some of their features although it is more likely the Nifty Gateway team will be absorbed by Gemini going forward. Foster brothers currently own 400 nifties combined and Tyler believes that their idea can be sold as a solution as long as they trust themselves with the vision.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Barstool Sports Dave Portnoy Sold $1.25M Worth of his Bitcoin Stash But He Will Be Back

After buying the top and selling the bottom, Barstool Sports Dave Portnoy appeared on Anthony Pompliano’s podcast on “The Pomp Podcast” to discuss bitcoin...

Over 100 Million Unique Users in the Crypto Ecosystem; University of Cambridge Digital Asset Study

The 3rd Global CryptoAsset Benchmarking Study, an initiative by Cambridge researchers to analyze the developing growth of the industry, has estimated that over 100...

DeFi Protocol Synthetix Upgrading to L2 Scaling to Alleviate Gas Costs for Small SNX Stakers

Popular on-chain synthetic assets protocol, Synthetix is in the first phase of its transition to Optimistic Ethereum, a layer two scalability solution for the...

Investors With Low Financial Literacy Are Twice As Likely to Own Crypto vs Market Gurus: Bank of Canada Report

A new study released by the Bank of Canada has revealed that folks with lower financial literacy are more likely to own Bitcoin than...

Love it or Hate it, UNI Token Stands to Benefit from Uniswap’s Evolution

After releasing the UNI token as part of Uniswap V3, the first update for Uniswap V3 has been made on Github. It might say...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today