Gemini, the crypto exchange of the Winklevoss brothers, has launched Nifty Marketplace, a platform to sell, buy or store NFTs, non-fungible tokens. The launch of the store follows the acquisition of Nifty Gateway in September.
The aim of the marketplace is to bring NFTs to the mass market. In the launch post published on Medium, there is a clear statement that it is a centralized, USD based exchange for NFTs powered by Gemini custody.
The operation is simple: the non-fungible tokens can be put on sale in dollars and the amounts can be withdrawn directly into the bank account. Like eBay. Each user will have a public profile with name, surname, photo and biography. To register and start trading NFT only one thing is required: an email address.
Nifty Marketplace will launch NFT collectables approximately every three weeks. The goal stated by Tommy Kimmelman, Business Development Specialist at Nifty Gateway, is to reach 1 billion people who can collect NFTs.
At the moment the first collections have been launched by two artists and an athlete. These are:
- Michael Kagan, a New York City artist whose work focuses primarily on space travel and futuristic technology, and who has recently held exhibitions in prestigious contemporary museums. His work has also been auctioned at Christie’s.
- Lyle Owerko is a photographer and artist from Los Angeles, author of the Boombox Project, which enhanced the old stereo with speakers and cassette tapes, an icon of music at the turn of the 80s and 90s; some of his works were purchased by Beyoncé and Jay-Z.
- Cris Cyborg is a Bellator MMA featherweight champion, she has invested in Bitcoin since the very beginning, and now she’s been involved in a collection of Nifties that she created and approved, now available on the marketplace.
The marketplace solution involves bringing artists and the public directly into contact with each other. Everything will obviously be traced on the blockchain that will be used to establish the authenticity and scarcity of each piece.
NFTs: an evolving marketplace
The market for non-fungible tokens seems to have invaded the world of sports. Delta Time has been organizing auctions for a long time, with NFTs linked to Formula 1. The latest in order of time is the Australia Edition, created to raise funds for charity in response to the emergency caused by the fires.
Even football is not exempt: the Italian football team SS Lazio (but also Juventus) has signed a partnership with Sorare to transform its star Ciro Immobile into an NFT token.
Perhaps sooner or later they too will pass through the marketplace launched by Gemini. Nifty Marketplace can be used internationally, although money can only be withdrawn in dollars within the United States. The team, however, wants to add more support outside the US soon.