The Gemini Metaverse Vision
In a move that could make even the most seasoned crypto enthusiasts raise an eyebrow, the Winklevoss twins’ crypto exchange, Gemini, has just closed a whopping $400-million equity funding round. This is like the nerd version of scoring a winning touch-down – complete with high-fives and possibly a confetti cannon!
Funding Details: Who’s In?
With Gemini now valued at $7.1 billion, this funding round was led by Morgan Creek Digital, featuring contributions from several partners including 10T, ParaFi, Newflow Partners, and Marcy Venture Partners. And if you’re wondering, yes, the Commonwealth Bank of Australia also hopped on this digital bandwagon. They have joined forces with Gemini to launch crypto trading services, proving that down under really gets the crypto vibe.
The Metaverse Strategy: More Than Just Pixels
During a recent chat with Forbes, Tyler and Cameron Winklevoss spilled the beans on their ambitious plans for Gemini. Instead of investing in building physical branches in “meatspace” (yes, that’s a real term for our plain old reality), they’re looking to bring Gemini right into the heart of various metaverses. Tyler boldly stated:
“We’re gonna build a Gemini experience in different Metaverses, where you can go into Gemini and trade, but it would be immersive instead of on your phone.”
Imagine logging into a virtual world, walking into a digital storefront, and trading crypto whilst sipping a latte – all in your PJs!
Competition and Ownership Dynamics
In a delightful twist of fate, this metaverse quest puts the Winklevoss twins back into the ring against none other than Mark Zuckerberg. They have a long history of tussling with the Facebook founder that began in 2004, stemming from a dispute over some digital “borrowing.” The twins finally settled with Zuck back in 2011 for a cool $65 million. Who knew a little crypto could reignite that rivalry?
Decentralization vs Centralization: The Twin Talk
Cameron Winklevoss made it clear that there’s a split in the roadmap to the metaverse between big players like Facebook and their vision, which leans towards decentralization. According to Cameron:
“But there is another path, which is the decentralized Metaverse and that’s the Metaverse where we believe there’s greater choice, independence and opportunity.”
This isn’t just a tech debate; it’s practically a philosophical one! The twins want to empower users while keeping the soul of the metaverse intact.
Gemini’s Real Estate Adventure
In case you were wondering, these twins are serious about this metaverse business. They have already purchased virtual land in The Sandbox, where they plan to set up both the Gemini exchange and their NFT marketplace, Nifty Gateway. Just picture it: a vast digital plot of land with crypto trading – it screams modern-day gold rush!
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