The Winklevoss brothers are planning their investments in the decentralized Metaversum, in which large tech companies do not have a supremacy by default. Facebook holds against it.
The crypto company Gemini of the two Winklevoss brothers received 400 million US dollars in the current capital increase. Investors included the funds Morgan Creek Capital and ParaFi Capital. The Gemini board of directors has now also been expanded to include a third member: Sachin Jaitly complements Cameron and Taylor. More members and partners are to follow in the future.
In addition, the New York parent company Gemini Space Station, LLC. a valuation of $ 7.1 billion. The brothers want to use the proceeds from the financing to develop a metaverse that, unlike Facebook’s plans, does not provide for large tech companies to retain their supremacy in the digital space. Cameron Winklevoss explains Forbes:
Right now there are these two parallel paths in terms of technology. There’s a centralized way like Facebook or Fortnite that’s just a step away from being a metaverse, and that’s perfectly fine. But there is another avenue, the decentralized metaverse, and that is the metaverse, where we believe there is more choice, independence and opportunity and there are technologies that protect the rights and dignity of individuals.
Taylor Winklevoss
As Forbes writes, those interested in Metaversum are currently seeing two developments in Space. On the one hand there are companies like Facebook or Fortnite. These will continue to try to ensure in the future that the shareholders of the big big tech giants will profit from the billions of people, as they are already doing. On the flip side, there are dozens of blockchain startups who have a different vision of the metaverse, as Forbes writes:
Instead of the ad-supported model that has proven so lucrative for social media companies (and fertile for misinformation and political influence), most metaverse will require tiny amounts of cryptocurrency, similar to the “gas” used to run other decentralized ones Applications is used. While revenue models are sure to proliferate, the greater the demand for these tokens, the higher the price will be, increasing the value of the same currency users now own and bringing the wealth to users rather than shareholders.
Forbes
Investing in Promising Companies
With Gemini, Winklevoss are among the investors in these very same start-ups. The Winklevoss Capital Fund was part of the investor group that supports these start-ups. For example, in September they invested in a $ 200 million support for the decentralized social networks (DeSo) blockchain. In November, Winklevoss Capital Fund was among the investors who gave $ 93 million to The Sandbox (SAND). Part of this deal was the purchase of a virtual property. Tyler hopes this will enable people to immerse themselves in the company’s three-dimensional website in the future:
Instead of setting up stationary bank branches in the Meatspace, we will build a Gemini experience in various metaverse where you can get in and trade in Gemini.
Taylor Winklevoss
The competition for the Metaverse has begun, even if the brothers manage to get more participants on their own platform this time before Zuckerberg: there are still other Metaversum projects waiting, such as the 2.5 trillion US dollar from Microsoft and 731 billion US dollars Dollars from Nvidia.