- Nonfungible tokens (NFTs) are having a growing demand and an increasing level of users globally
- Nifty Gateway has a lot to offer to crypto traders and you can even buy NFTs on the platform
- Nifty debuted 6,623 NFTs representing the artwork of 418 artists between May 2020 and April 2021, with total sales of $403.8 million across its main and secondary marketplaces.
Nonfungible token (NFT) marketplaces transacted approximately $82 million in 2020 and a staggering $17.6 billion in 2021. This shows a growing demand for NFTs and a high level of user interest. This meteoric rise of digital asset trading included everything from whimsical cartoon JPEGs to NBA trading cards, artwork, audio, and more. Nifty Gateway is one such marketplace for gathering and trading NFTs.
Duncan Cock Foster and Griffin Cock Foster created Nifty Gateway in 2018. Gemini, Tyler and Cameron Winklevoss’ bitcoin exchange purchased it in 2019. However, Nifty Gateway bills itself as a high-end NFT marketplace on the Ethereum blockchain, collaborating with top digital artists, singers, athletes, and brands on limited-edition exclusive launches. Beeple, Pak, Refik Anadol, rapper Lil Yachty, and other well-known NFT artists have sold NFTs on the site.
Nifty debuted 6,623 NFTs representing the artwork of 418 artists between May 2020 and April 2021, with total sales of $403.8 million across its main and secondary marketplaces.
How to get started with Nifty Gateway
To get started, go to Niftygateway.com/signup and enter a legitimate email address and password. There is also the possibility of connecting through a Web3 wallet.
Once the account has been created, it is recommended that additional essential information be entered to improve the user experience. Uploading a profile picture and changing the profile icon are excellent places to start.
Adding payment method
In addition, you need to add a payment method. There are three payment methods available: linking the account with a Gemini Wallet, connecting with a Web3 digital wallet such as MetaMask to validate transactions, or adding a credit or debit card.
How to buy NFTs on Nifty Gateway
Anyone interested in purchasing NFTs on Nifty Gateway should follow the procedures below:
- Visit the Nifty Gateway marketplace to buy an NFT.
- Search for NFTs by artist, collection, or topic. The search function can also be used to locate particular NFTs or collections.
- Choose an NFT and pay for it with your chosen method. The bought NFT can be transferred to your MetaMask wallet or Nifty Gateway account.
How to sell the NFTs
The procedures for selling NFTs on Nifty are as follows:
- To sell an NFT, go to Nifty Gateway’s “My Collection” tab and select the “List an Item” button.
- Enter the NFT’s fundamental information, such as its name, description, and price.
- Users can sell NFTs using two payment methods: they can sell them straight from their MetaMask wallet for Ether, or they can sell them for USD by signing up to be an authorized seller on Stripe. When an NFT is purchased, the funds are transferred to the connected wallet.
Gateway structure and pricing
According to Nifty’s WalletHub documentation, Nifty has a standard fee structure comprised of two distinct models: V1 and V2.
This model is for listings kept in the custodial model. Nifty charges a 5% cut of the sale price with this method. Payments can be made using credit cards, Ethereum purses, or Gemini accounts. Furthermore, no gas fees are connected with these transactions.
In addition to method V1, there is a second option. This applies to any seller who sells an NFT through an Ethereum cryptocurrency wallet such as MetaMask. However, ETH must be used to pay for these transactions, and Nifty Gateway charges a 2.5% fee on the overall sale price. When completing these purchases, users must pay gas fees.
As with all NFT platforms, it is critical to consider the safety and security of using them in order to keep your digital assets secure. Overall, Nifty Gateway has made precautions to guarantee its users’ safety. The site is backed by reputable investors and has been used by a number of well-known artists and celebrities.
Nifty Gateway also uses industry-standard security measures to secure users’ accounts and transactions, such as encryption and two-factor authentication. Furthermore, Nifty Gateway benefits from parent company Gemini’s emphasis on upholding best security practices in the cryptocurrency business.
Furthermore, there is always some degree of risk involved in any investment or financial transaction. NFTs can be volatile, with substantial price fluctuations over time. Before investing in any NFT, you should conduct your own research and comprehend the risks.