While NFTs continue to make headlines around the world, there is no shortage of NFT brands. Today we have several markets serving NFTs of all types, sizes and shapes, as well as various blockchains. However, with increasing competition, it is common for most of these brands to compromise on quality. Nifty Gateway is different.
What is Nifty Gateway?
Nifty Gateway is an Etherium-based NFT marketplace that focuses on quality instead of quantity. The platform has teamed up with artists and brands to create limited editions of high quality NFT collections that are only available on the platform.
Clearly, the platform aims to be the crème de la crème of the NFT area. It only accepts artists who go through the application process and make sure that only high-quality collections are run. For this reason, most of the artists and creators of the platform are already well known in the space. These include Pak, Fewocious, Beeple, Deadmau5 and Grimes, to name a few.
However, this does not mean that the platform is not accessible. In essence, its mission is to “make the NFT accessible to all”. In addition, the bold statement on the platform reads: “We will not have peace until 1 billion people gather the NFT.”
Nifty Gateway was founded by brothers Duncan Cock Foster and Griffin Cock Foster in 2018. Then, at the end of 2019, the Gemini Cryptocurrency Exchange conquered the market. Since then, the popularity of Nifty Gateway has only grown. In fact, according to Statist, the platform will earn from May 2020 to September 2021 on NFT revenues of $ 408.8 million.
Now that we’ve covered the basics of what Nifty Gateway is, let’s learn more about the features.
Understand the properties of Nifty Gateway
As mentioned earlier, the purpose of the Nifty Gateway is to make the NFT accessible. In this regard, they had everyone ask to become the creator of the platform. To do this, you must first answer the 8-part question and then follow the interview.
In addition, artists will receive lifetime fees for any artwork sold on the platform. And it’s up to them how they decide on the royalties. However, the platform costs 5% of the sale price to cover trading costs. Work is now underway to increase it to 2.5%.
In addition, Nifty Gateway offers a variety of NFT art and collectibles. These are often used as Curated Drops and Verified Drops. The former has a collection selected by the Nifty Gateway team. On the contrary, while the other was not composed by the team, they confirmed the identity of the creator.
One of the key ways Nifty Gateway differs from other NFT platforms is that it is a storage platform. To be clear, all NFTs on the platform are stored in a secure wallet, supported by Gemini custody technology.
This is important because producers can buy, sell or donate to the NFT on a payment platform and pay only a fraction of the gas bills. In addition, even if you lose your account or forget your password, Nifty Gateway will help you recover it.
While most NFT markets only offer cryptocurrency payments, Nifty Gateway offers many options. These include debit cards, credit cards, Gemini balance and ETH. In addition, because it supports the USD, US bank account merchants can also collect revenue directly. This fiat approach makes it easier for non-cryptocurrents to use the platform.
Nifty Gateway has its drawbacks
Nifty Gateway came under fire early last year after hackers stole thousands of dollars worth of NFTs. However, the company admitted that the platform was not compromised. Instead, only the “small number of users” who are unable to perform two-factor authentication (2FA) are affected.
In addition, the platform currently only supports withdrawals from US-based banks as a Gemini account. As a result, it is not suitable for residents outside the United States without a Gemini account. Pack’s ‘The Merge’ NFT drop with gray balls on a black background
Pak’s ‘The Merge’ raised $ 91.8 million
The market has several famous associations
Nifty Gateway is consistent in its efforts to print quality collections and differentiate itself from its competitors. On the one hand, it is home to the collections of some of the world’s most famous characters. Take, for example, the images of former South African President Nelson Mandela, which were auctioned on the platform last month.
The brand also dropped one of Beeple NFT’s earlier works. The work is called CROSSROADS and in February 2021 received $ 6.6 million. Award-winning actor Pak “Merge”, who now holds the record in the most expensive NFT, was also sold at Nifty Gateway.
What’s more, Nifty Gateway also supports many good things and important things. This month, it partnered with Seneca Women ‘s global leadership platform to launch an exclusive equality NFT collection. The “The Seneca Women Equality Collection” presents artists whose works represent a world that includes equality. Earlier this year, the platform also launched an NFT advisory program for museums, funds, family offices, corporations and major markets. In addition, Nifty Gateway has partnered with some of the largest global markets and NFT projects. For example, he recently partnered with Cool Cats for the latest wallet feature. The function aims to further reduce gas fees for NFT traders.
Another fear in the cap is the cooperation of Samsung. Together, they will create the first NFT smart TV platform ever. With this move, users will now have access to the Nifty Gateway through the Samsung NFT platform on their premium products such as QLED and Neo QLED TV. In addition, Nifty Gateway has teamed up with RECUR to launch the RECUR Portal Pass.
Overall, the Nifty Gateway is an important NFT market that needs to be considered if you want to produce and sell your NFTs. The simple and easy-to-use interface is also very suitable for beginners.