- Brothers and Nifty Gateway co-founders Duncan and Griffin Cock Foster have announced that they are stepping down from their leadership roles at the company.
- The news comes after (but not in response to) Nifty Gateway’s parent company, Gemini, announced that it would cut its workforce by 10%.
- The Kok Foster brothers have no concrete plans for the future, but have expressed a desire to start another company.
- In an exclusive conversation with nft now, Duncan Koch Foster discussed his and his brother’s decision to leave the company.
why it matters
Major changes for prominent NFT platform are on the horizon Nifty Gateway (NG). After years of leading the beloved market and driving innovation at the forefront of the NFT space, co-founders Duncan and Griffin Koch Foster announced They will step down from their leadership positions in the company.
Ownership is now owned by Cameron and Tyler Winklevoss, co-founders of parent company Gemini. The leadership torch was passed on to Eddie Ma (tech lead) and Tara Harris (non-tech lead).
Many were taken aback by the announcement, speculating whether the move has something to do with the state of the crypto and tech industry, or Gemini itself. Situation with borrowers, Genesis Global Capital. However, Duncan says this is not the case and that his and his brother’s decision was not a sleight of hand against Gemini in any way.
“There is no denying that the cryptocurrency and NFT markets are going through turbulent times right now, and Gemini is no exception. But betting on the Winklevoss twins is a terrible idea,” Duncan said in an interview with nft now. “They are among the top 0.01% of the world’s most determined people. I am confident Gemini will emerge stronger than ever from this crypto winter. This is due to the fact that we are entrepreneurs at heart and want to get back into entrepreneurial activity.”
As mentioned above, the main factor in Cock Foster’s decision to leave was simply that their time had come. In his Twitter thread, Duncan said that when Nifty’s Gateway was first acquired, he and his brother said he had set himself the threshold of four years before he left the company to start another company. said they had imposed it on us.
“As a founder, I always knew that one day I wanted to start another company,” says Duncan. “I love the Gemini team and Gemini’s mission, but being the founder of a company and running a division of a big company means that even if a big company is a company you love and respect, Ultimately, that is what guided our decision more than anything else.”
According to Duncan’s thread, this transition has been going on for months. And to allay potential concerns of those within the NG community, he and his brother said they would publicly outline a roadmap and plans for its future in the coming weeks. , the Cock Foster brothers don’t know where they’re headed next.
“We meant it when we said we had no concrete plans for the future. So the next company to launch could also be in the crypto sector,” said Duncan. “I don’t know for sure, but my only immediate plan is to get back to tinkering and exploring. The Winklevoss twins say they’re going to write a check for anything.” [our future company] So I’m pretty sure about that part. ”
Duncan added that the only thing he’s aiming for now is learning to surf, but he and his brother will eventually return. Very optimistic about sex.
“Looking back at the current ecosystem compared to the one that Griffin and I were first involved in in 2018, it’s amazing how much progress has been made. Only a handful of creators were able to get , but now there are thousands (or even tens of thousands) of creators who can,” he said. “We believe that the road for NFTs to become a mainstream technology that most people use every day is longer and winding than originally thought, but we believe that is where the industry is headed. I always think so.”