Gemini’s latest project, Superlunar, isn’t a product or service venture.
It’s a Web3 research and design studio that will build on what the Gemini Opportunity Fund started in late 2020, giving $2 million to the core Bitcoin developers.
Gemini, which made $116 million in volume in the past 24 hours, is the ninth largest spot crypto exchange, according to CoinMarketCap.
“Superlunar, LLC is a standalone company of Gemini Trust Company, LLC. Beth Kurteson, one of the founding members of Gemini, will serve as CEO of SuperLunar,” said Noah Perlman, Chief Operating Officer of Gemini. Decrypt by email. “We couldn’t be more excited for her to lead this exciting new company with a mission to develop solutions and solve the real problems of Web3 around NFTs, tokenization, metaverse, and Moreover.”
The 14-person Superlunar team will focus specifically on design and security issues in the Web3 ecosystem. Sometimes that will mean contributing to open source projects, and other times it will mean sponsoring an outside developer or team.
“That doesn’t mean we’re not going to be looking to undo those issues that we think we have the solutions for,” said Rich Smith, chief technology officer of Superlunar. Decrypt. “We are very well positioned to leverage some of this side of community funding and the relationships that we have there, and provide capital funding not only to core Bitcoin developers and the open source crypto community, but also to technology and open source. Software.”
Although the Gemini Opportunity Fund was created specifically to support Bitcoin developers, Superlunar will not focus on just one block chain.
For example, one of Superlunar’s researchers sits on the W3C Authentication Committee. another author EIP-2981who created a standard for managing royalty payments for Ethereum NFT.
“And that was something that, before this standard, was entirely platform-dependent. All [NFT] marketplace had to implement its own royalty system, which again perhaps made sense in the age of Web2,” said Pete Baker, vice president of design at Gemini. Decrypt. “But with [Web3]if royalties are going to be what brings long-term value to creators and artists, there has to be a standard.
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