Gemini Acquires Nifty Gateway, Taps Into Billion-Dollar Virtual Goods Economy

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 that power the emerging economy of digital collectibles and virtual goods.

// STAY UP TO DATE — FOLLOW BLOCKCHAIN DAILY ON TWITTER: @BLCKCHAINDAILY

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.

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.

Tyler Winklevoss

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.

Duncan Cock Foster

Nifty Gateway also gives decentralized application (dApp) and game developers a powerful and intuitive suite of tools that simplifies the process of selling nifties.

For dApps and games leveraging Nifty Gateway, NFTs are priced in U.S. dollars.

This significantly lowers the barrier to entry for interested users because they don’t need to own cryptocurrency to acquire and use NFTs and their associated unique digital assets.

Nifty Gateway will remain a separate experience operating within the Gemini family as its own entity.

Gemini Trust Company, LLC (Gemini) is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store cryptos such as bitcoin, bitcoin cash, ether, zcash, and litecoin.

Gemini is a New York trust company that is subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the New York Department of Financial Services and the New York Banking Law.

Gemini was founded in 2014, by brothers Cameron and Tyler Winklevoss, to build a bridge to the future of money.

To learn more, visit https://gemini.com.

// CLICK HERE FOR MORE BLOCKCHAIN NEWS

Donate BTC: 13xyfdE1ERCu6ZaZ6Ejj7x6B7au8GJXont (Click for QR)
ERC 20: 0x3930890DC36E40e17c280aF5A80cEAC30732cFB9 (Click for QR)

Your foremost source for #blockchain news ⛓ Inquiries: contact@blockchaindaily.news

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store