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Winklevoss Twins: NFT Adoption Was an Uphill Battle

Much like in the early days of Bitcoin, convincing people of the potential and value of digital artwork and collectibles represented as non-fungible tokens (NFTs) was an uphill battle before the recent boom, say Tyler and Cameron Winklevoss.
The Bitcoin billionaires and co-founders of cryptocurrency exchange Gemini saw the potential before the market exploded these past few months, with the wider NFT market generating more than $1.5 billion in total transaction volume in Q1 2021. Gemini acquired NFT marketplace Nifty Gateway in November 2019, and the platform has been one of the drivers of that NFT surge.
In a conversation with Forbes associate editor Michael De Castillo this morning as part of Decrypt’s Ethereal Summit, the Winklevoss twins discussed the early days of building Nifty Gateway. Tyler said that the acquisition “feels like a decade” ago in the fast-moving NFT space, and that early on, they mostly had to reach out to artists and creators to get them on the platform.

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