In the world of crypto, that is digital currency, Cameron and Tyler Winkleloss are among the movers and shakers.
Their journey from being ridiculed in the film "Social Network" to becoming early adopters of bitcoin is chronicled in the book "Bitcoin Billionaires" by Ben Mezrich.
Currently, their every decision is watched and analyzed for both business and technological implications. The interest isn't only in the category of cryptocurrency.
It extends to the entire growing fintech sector. Recently, BusinessInsider featured the top 10 fintech startups and later stage enterprises. That has become the story in financial matters, ranging from how to select and purchase life insurance to processing internet payments. In that, UX or designing a simple seamless satisfying user experience is the name of the changing game.
So, the business media, including BusinessInsider, took note when the twins made an acquisition. Their fund Gemini Trust purchased Nifty Gateway. A side story on that, which members of the press seem to enjoy, is that is the acquisition also had been owned by twins - Duncan and Griffin Cock Foster.
The Nifty platform accepts payments through credit and debit cards instead of a complex crypto transaction - that is a crypto wallet. However, that is tracked on a blockchain ledger.
What is purchased is the Nifty or NFT. On the Nifty Gateway website, there is the explanatory statement:
"Nifty NFT is a digital good which is stored in a global blockchain instead of a local or centralized database - usually an in-game video game object."
The significance of nifties is this: They are different from other forms of crypto in that they are one of a kind. Therefore, they aren't interchangeable on the blockchain.
It is reported by Upcrypto.org that one motivation for this purchase is that the Winklevoss twins predict that all collectibles, both digital and real-world, will migrate to the blockchain in the form of nifties.
For the current time, Gemni Trust and Nifty Gateway will operate separately.
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