Winklevoss Twins’ Nifty Gateway Opens for Business
Achieving billionaire status takes a special kind of person. And in the case of the Winklevoss twins, it took two.
For the unfamiliar, Cameron and Tyler Winklevoss have a combined net worth that, depending on the market value of their 115,000 bitcoin stash, soars well North of $1B.
In addition to owning a leading US cryptoasset exchange, the twins’ investment vehicle — Winklevoss Capital — saw Coinbase snatch up Earn.com for $100M. Digital asset lending platform, BlockFi, adds yet another $100M to the bothers’ deep well of funding.
How is net worth related to non-fungible tokens, you ask? Simply put, we’re excited to learn that two of the most prominent figures in the startup ecosystem are now in the NFT business. Like all of us here at RedFOX Labs, the twins see massive potential in the future of NFTs.
Rather than paraphrase, we’ll let Tyler tell you what he thinks in his own words:
“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.”
In November 2019, the brothers Winklevoss put their money where their mouths are by purchasing an NFT startup — Nifty Gateway. And last week, several NFT collections went up for sale.
Unlike KOGS, these non-fungibles center their focus on digital art. In other words, gaming isn’t yet part of the equation. Contrastingly, our game’s NFTs are not only collectible works of art, but they’re also playable pieces within a mobile game that puts them into action. KOGS is where digital art meets smartphone gaming.
So, how do Gemini’s NFTs look? Well, rather than tell you, we can just show you.
The Sport of Art
Art galleries are known for their exhibitions, and Nifty Gateway is no exception. The first series is still up for grabs — that’s if any more are available by the time you read this—and showcases two artists plus an MMA fighter.
At the time of writing, fans of Cris Cyborg can still pick up colorized and B&W tokens. Only 250 of the B&W NFTs will ever exist, and 100 of them already reside with new owners. Five of 10 colorized creations remain, and their scarcity qualifies them for a 50x price bump over the colorless token.
The creator of the astronauts in this article’s lead image is Michael Kagan, out of New York. So far, these high-end pieces ranging from US $3–5k are struggling to gain traction.
Rounding out the inaugural exhibition’s lineup is artist Lyle Owerko, whose retro boomboxes are now in scarce supply after only one week of sales.
Of 164 boombox NFTs spread across six different colors, only 16 currently remain — not quite 10%. You may be in luck if you like red, but you’d better hurry or risk price markups on the site’s peer-to-peer NFT exchange.
Sharing Core Values
As we’re intent on doing here at RedFOX, Nifty Gateway is disrupting legacy markets. But rather than use emerging tech to innovate a new solution, the Gemini-secured NFT marketplace is adhering to familiarity.
In a nutshell, Nifty Gateway builds a bridge to NFT ownership, usable for anyone with or without cryptocurrency experience. Simply log in to an account and make purchases with a debit or credit card.
By folding traditional payment methods into decentralized finance, Winklevoss Capital’s new acquisition lives up to its namesake.
Minting takes only a few minutes, and purchases automatically appear within an easy-to-share profile. After all, for some collectors, NFTs are all about digital bling.
Simplifying the NFT purchase process aligns with our aim of practicing digital inclusion while building digital economies. Well done, Nifty Gateway!
With swathes of the globe’s population on government-mandated quarantine, NFTs and video games offer moments — or sometimes hours — of welcome respite. If you’re like us, you don’t want to hear another mention of the virus that’s got most of us trapped indoors.
But during these surreal times, it’s business as usual here at headquarters. We’ve been practicing work-related self-isolation for more than a year now! While some of the outside world is on pause, our foot’s on the gas pedal to release KOGS as soon as possible.
The team behind Gemini has done their research, and virtual goods bought and sold inside videogames now represents a $50B industry. That eye-popping figure is mostly fungible goods, which, unlike NFTs, don’t truly belong to the gamer. Instead, they reside on hackable, centralized game servers.
The Winkelvoss twins’ purchase and launch of an NFT marketplace both help validate our recent endeavors. Like NFTs themselves, KOGS is unique in that no other mobile game calculates 100% of its logic on a blockchain.
Combined with swelling interest from collectors, investors, and players alike, 2020 is shaping up to be non-fungible tokens’ breakout year. As we enter the NFT ecosystem with the upcoming launch of KOGS, it’s comforting to know we’re in great company.
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