Wednesday, duncan and griffin cock foster, the co-founders of nft marketplace nifty gateway, announced their departure from gemini, the cryptocurrency exchange they sold the marketplace to in 2019. duncan stated that their decision to leave was based on their desire to start a new business. eddie ma will take over as the technical leader for nifty gateway, and tara harris will be responsible for non-tech matters.
Winklevoss twins, cameron and tyler, had spotted non-fungible tokens (nfts) as a rising trend at an early stage and bought nifty gateway in 2019. in october 2020, the marketplace pivoted from a standalone nft marketplace to an aggregator of ethereum nfts and subsequent changes to the infrastructure were announced the following month. they plan to release a roadmap for the marketplace in the coming weeks after months of planning the transition.
Is currently facing difficulties with crypto lending firm genesis, which filed for bankruptcy last week. the exchange is trying to reclaim $900 million in assets owed to them. in november 2020, the securities and exchange commission (sec) filed charges against genesis global trading inc. and gemini trust company llc, alleging that their nft marketplace, gemini earn, is an unregistered security and that they violated securities law. nifty gateway responded to the news by making changes to its infrastructure to distinguish itself from competitors like opensea and looksrare. duncan believes that the marketplace will be in safe hands under gemini’s ownership.