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Reality Sets in for NFTs: The Power of Community Summary

Real Vision

Reality Sets in for NFTs: The Power of Community

by Real Vision

Reality Sets in for NFTs: The Power of Community

Real Vision

Clock Icon5 min
Insight Icon3 key insights
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Filmed as part of Real Vision's series on NFTs, Raoul Pal interviews the founders of NFT auction platform Nifty Gateway, Duncan and Griffin Cock Foster.

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Reality Sets in for NFTs: The Power of Community

by Real Vision

Reality Sets in for NFTs: The Power of Community

Real Vision

Overview

Duncan and Griffin Cock Foster founded Nifty Gateway in 2018 after being convinced of the incredible potential of NFT technology. After witnessing the success of blockchain game CryptoKitties, the brothers believed that NFTs would become more than just a passing fad.

NFTs, or non-fungible tokens, are unique, non-interchangeable units of data stored on digital ledgers – also called blockchains – that use cryptography to list records. Blockchain ensures that NFTs won't be copy-pasted or modified. NFTs can be used to represent ownership of a specific item; they have a unique owner.

As early adopters, the Cock Fosters have watched the industry spread from niche interest to mainstream success. In this interview from Real Vision, an on-demand TV channel that focuses on finance, economics, and business, the Cock Fosters discuss the shifting landscape surrounding NFTs.

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Favorite Quote

"The people who come in just looking to make money are often the ones who end up not making money, whereas the people who come in and are like, hell yeah, man. I love your art ... Those are the ones who end up actually owning the most valuable pieces."

Griffin Cock Foster, Nifty Gateway Co-Founder

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Reality Sets in for NFTs: The Power of Community

Real Vision

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