Duncan Cockfoster and Griffin Cockfoster, both co-founders of non-fungible token (NFT) auction platform Nifty Gateway, announced their resignation in a thread posted on Twitter on January 25.
Nifty Gateway was founded in 2018, and was acquired by Gemini the following year. His departure is effective immediately. In an attempt to justify his departure, Duncan said that he and Griffin were entrepreneurs at heart and wanted to build another firm.
Griffin and Duncan: It wasn’t that bad.
When Gemini bought NG in 2019, Griffin and Duncan agreed that if all went well and they were happy in their new roles, they would each stay for four years before starting new ventures.
The fact that they stayed longer than they expected shows how enjoyable the trip was, per Duncan.
The decision comes amid a legal dispute between Nifty Gateway’s parent company Gemini and Genesis Global, a cryptocurrency lender that has since filed for bankruptcy.
Discontinued after Genesis Global Returns Due to “unusual market conditions” in November 2020, Gemini claims Genesis Global owes its members $900 million as part of the Gemini Earn program that Gemini offers. Gemini is currently suing Genesis Global.
Nifty Gateway was founded in 2018, and was acquired by Gemini the following year. Duncan said that despite the difficult financial conditions at the parent firm, they have been preparing for the development for months and Nifty Gateway is “in excellent hands.”
Duncan: Cameron and Winklevoss knew the potential of NFTs.
Duncan further claimed that Cameron and Tyler Winklevoss are visionaries who NFTs Long before virtually anyone else. Cameron and Tyler Winklevoss are the brothers who founded Winklevoss Capital.
According to Duncan, Nifty Gateway will see more success as a result of his leadership. As part of the shift, Eddie Ma will assume responsibilities as “Technical Lead” for the Nifty Gateway, while Tara Harris will assume the role of “Leader” for non-tech operations.
It is common knowledge that transitions can increase feelings of unpredictability about the future. To that end, in the coming weeks, Duncan emphasizes that he will provide the general public with a roadmap and strategy for the future development of the Nifty.
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