- Gemini was established to facilitate the purchase and storage of Bitcoin through a complex system of private keys and password-protected environments.
- Gemini has announced the acquisition of Nifty Gateway, a platform that makes it possible for anyone to buy.
- As stated by Gemini, Nifty gateway was acquired to transform the futuristic aspect of the concept of money by creating bridges to connect the new and advanced digital economies.
Gemini trust corporation, LLC (Gemini) is a digital currency exchange and defender that enables customers to shop for, sell, and store digital assets. Gemini was based in 2014, by Cameron and Tyler Winklevoss. As a New York trust company, Gemini is monitored by the New York State Department of Financial Services (NYDFS). Gemini was established to facilitate the purchase and storage of Bitcoin through a complex system of private keys and password-protected environments. To minimize the risk of loss from hacking Only a small percentage of the total bitcoin on the exchange is held online
Gemini has announced the acquisition of Nifty Gateway, a platform that makes it possible for anyone to buy and manage non-convertible, tokens also known as crypto-collectibles.
Non-Fungible Tokens (NFTs) are digital tokens that constitute unique crypto assets within blockchain-based games, such as CryptoKitties and Gods Unchained. Many of them include skins, weapons, and similar collectible items made to facilitate gaming experiences and the same are not interchangeable and cannot be traded like standard cryptocurrencies,
Gemini Bags First Acquisition
The growing popularity of crypto-collectibles signifies the impact of advanced technologies in the artistic arena when assets like Bitcoin, altcoins and the underlying blockchain technology are already transforming the financial ecosystem. And growing organizations like Gemini has understood the depth and importance of such popularity. This acquisition can be perceived as Gemini’s step to building the future of money.
As stated by Gemini, Nifty gateway was acquired to transform the futuristic aspect of the concept of money by creating bridges to connect the new and advanced digital economies. This, thus, has been an initiative to advance the facilitation of cryptocurrency in future endeavors.
Non-fungible tokens which are often based on the ERC-721 token standard make it possible for anyone to own unique digital collectibles of their choice similar to that of owning collectibles people admire, including stamps, baseball cards, and others. These digital collectibles include artworks as well as video game items and characters amongst others. Numerous digital collectibles have made their way to the limelight, including Gods Unchained, OpenSea after CryptoKitties impact in this platform during November 2017,
Why Nifty Gateway
Established in 2018 by identical twins, Duncan and Griffin Cock Foster, Nifty Gateway The platform enables anyone to quickly purchase these crypto-collectibles with their credit or debit cards, strives to simplify the purchase of NFTs like CryptoKitties, Gods Unchained, OpenSea, and others.
Despite the ups and downs, the founders of Nifty Gateway firmly believe that the crypto-collectible markets, Just like the crypto markets, which has grown to a decent $222 billion within a decade, have huge potential to shape the future of money in the developed world of cryptocurrencies and the same could even dominate the art, gaming and collectibles markets in the advanced near future.
The growing importance of NFT collectibles can be understood from related news, earlier in May 2019, which reported that the creators of KnownOrigin and BlockCities had launched Nifty Football, an NFT marketplace that allows users to buy and trade various Ethereum-based collectibles of footballers.