The two brothers bought NFT exchange Nifty Gateway that helps in picking up unique digital assets. The Gemini co-founders had already put the building blocks for metaverse back in 2019. It looks like the twins are all set to take the battle with Facebook head-on over the development of Metaverse. There’s a centralized path, like Facebook or Fortnight, that is one step away from being a metaverse, and that’s totally fine.īut there is another path, which is the decentralized metaverse and that’s the metaverse where we believe there’s greater choice, independence and opportunity, and there is technology that protects the rights and dignity of individuals. There’s these two parallel paths, in terms of technology right now. Speaking to Forbes regarding this, Gemini co-founder Cameron Winklevoss said: It seems that Winklevoss twins are all set to battle their old rival aka Facebook’s Mark Zuckerberg over the newly brewing Metaverse revolution. Metaverse becomes the new battleground for Gemini As reported by Bloomberg, no plans are final at this stage and the terms of the deal can still change. As a result, its general partner Sachin Jaitly became the third member of Gemini’s board of directors. In terms of the capital raise New York-based Morgan Creek has contributed $75 million. Some of its biggest rivals like Coinbase Global and ConsenSys Inc have also been taking advantage of these favorable market conditions. Gemini joins the list of several other crypto companies raising funds amid the booming market condition. It also includes participation from ParaFi Capital, a decentralized finance (DeFi) venture firm. The latest funding round will be led by capital management giant Morgan Creek Digital. Founders of Gemini, the Winklevoss twins will retain 75 percent ownership of the company post this investment.Īs per reports, their combined net wealth will nearly double from $6 billion in April to $10.5 billion as of date. In its latest funding round, cryptocurrency exchange Gemini has announced a $400 million fundraise at a valuation of $7 billion. The two brothers also have big plans for Metaverse development putting up a head-on competition with Facebook.The recent funding round will nearly double the wealth of Gemini founders aka the Winklevoss twins.
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