- The founders of Gemini’s NFT platform Nifty Gateway have stepped down to start a new company
- They said their decision has nothing to do with the ongoing layoffs at the crypto exchange
- Gemini acquired Nifty Gateway in 2019 and onboarded its founders, Duncan and Cock Foster
The founders of Gemini’s NFT marketplace Nifty Gateway, Duncan and Cock Foster, have stepped down from the marketplace’s leadership to start a new company as a way to revive their entrepreneurial spirit. They clarified that the decision to leave Nifty Gateway has nothing to do with the ongoing layoffs and the exchange’s legal battles. However, the two didn’t disclose the type of services or products the new company will offer.
They’ll Still be Around
In a Tweet, Duncan said that they are entrepreneurs at heart and they feel their time at the exchanges was up after “an incredible ride.” The two indicated that they had plans to leave the company after its acquisition by Gemini. However, they’ll retain their board member seats to help the incoming leaders take a good hold of the platform.
Some news — after almost 4 years, @gcockfoster and I are departing @gemini and are passing the baton at @niftygateway.
This journey has been an incredible ride, but Griffin and I are founders at heart and we want to start another company.
🧵 w/ some thoughts below:
— duncancockfoster.eth | Nifty Gateway (@dccockfoster) January 25, 2023
Duncan also disclosed that Eddie Ma and Tara Harris will take over Nifty Gateway’s technical and non-technical aspects respectively. According to the co-founder, they’ll start by studying what has happened in the blockchain space in the last five years before settling on “new startup ideas.”
The Winklevoss Twins are Visionaries
The co-founder hailed Gemini’s founders as visionaries who saw the potential of digital collectibles at an early stage. The crypto community thanked the duo for their work at Nifty Gateway noting that the NFT marketplace offered incredible digital artworks and the ability to “support amazing artists.”
We have been preparing for this transition for months and we are extremely confident that NG is in good hands. @cameron and @tyler are visionaries who saw the potential in NFTs well before almost anyone else. Under their leadership, Nifty Gateway will continue to thrive.
— duncancockfoster.eth | Nifty Gateway (@dccockfoster) January 25, 2023
Duncan and Cock’s move to step down comes roughly a month after Yuga Labs welcomed a new CEO, a phenomenon seen as a way to prepare NFT projects for the next phase.
