In Crypto: Nifty Gateway NFT Founders Step Down

Twins Duncan and Griffin Cock Foster look to launch another startup after handing over beleaguered Gemini-owned marketplace.

The founder of NFT marketplace Nifty Gateway is stepping down to start a new company.

Twin brothers Duncan and Griffin Koch Foster are owned by twins Cameron and Tyler Winklevoss in 2019, one year after his inception, at a time when non-fungible tokens were still on the rise. Sold the company to the cryptocurrency exchange Gemini.

On Monday, Gemini laid off 10% more employees, following his two previous layoffs. Crypto lending firm Genesis, which filed for bankruptcy last week, owes him up to $900 million after partnering with Genesis Earn, a program that offers customers up to 7.4% interest on their crypto holdings. increase. That ended when Genesis and Gemini froze payments last November.

Eddie Ma, Vice President of Engineering and Tara Harris, Director of Collector Services and Growth, will lead Nifty Gateway, with Cock Fosters remaining as an advisor.

NFT trading volume has fallen by 94% over the past year.

“When Gemini bought his NG Griffin in 2019, I told him that if things were going well and he liked it, he would stay for four years until he started another business. I did,” Duncan Cockfoster tweeted.

We have been preparing for this transition for months.

Cameron and Tyler are visionaries who saw the potential of NFTs before anyone else. Nifty Gateway will continue to thrive under

“When we were acquired, Griffin and I were the only NGs. We know the transition can create uncertainty about the future, so in the coming weeks we will publish an overview of Nifty’s future roadmap and plans.

Originally published at https://businessdor.com on January 26, 2023.