By James Davis
In 2020, NFT marketplaces only recorded a total trading volume of roughly $81 billion. But at the end of the following year, that figure skyrocketed to $17.5 billion, signaling increased demand for NFTs. One of the marketplaces that facilitated trading for these unique digital assets during the boom is Nifty Gateway.
Founded by Griffin Cock Foster and Duncan Cock Foster in 2018, Nifty Gateway is an Ethereum-based NFT trading platform that regularly collaborates with various prominent digital artists, athletes, and musicians to create exclusive NFT collections. Nifty Gateway got acquired in 2019 by the owners of crypto exchange Gemini, the Winklevoss twins.
What Makes Nifty Gateway Stand Out?
Nifty Gateway has three elements that make it unique. They include:
Curated and Verified Art
Many artists that launch their projects on Nifty Gateway are well-known individuals within the art community. Therefore, this makes their work easily verifiable.
The marketplace has always been selective about the artists it permits to showcase their NFT projects on the platform. Before Nifty Gateway allows artists to mint and list NFTs, the trading platform requests them to fill out an application form and conduct an interview. These two measures ensure Nifty Gateway users only access verified and legitimate collections.
Exclusive Drops
Nearly all NFT marketplaces conduct NFT drops, but Nifty Gateway separates itself from the rest by dropping exclusive, limited-edition collections, which usually sell out fast because of high demand. Some of the popular NFT projects launched on the platform include Beeple’s Spring/Summer collection and Crossroads NFT, which sold for over $6.5 million in 2020.
Fiat On-ramp Capabilities
Nifty Gateway makes it possible for NFT fans to purchase their favorite digital artwork directly using credit and debit cards. Other marketplaces like Blur, Opensea, and SuperRare only support this payment method through a Web3 wallet, which can be a complex process for those not well-versed in blockchain technology.
How Do You Get Started With Nifty Gateway?
Here is how you can create a Nifty Gateway Account to start trading NFTs:
Step 1: Visit Niftygateway.com, click the ‘Sign Up’ tab, and enter a valid email along with a password.
Step 2: After creating an account, you will be required to complete your profile by uploading a profile picture.
Step 3: Once you upload the profile picture, adding a payment method is the next step. Nifty Gateway supports three payment options: linking your account with Gemini Wallet, adding a debit or credit card, and connecting with a Web3 wallet like MetaMask.
How to Purchase NFTs on Nifty Gateway
Are you looking to acquire your first NFT on Nifty Gateway? Follow the steps below:
Step 1: To buy NFTs, visit the Nifty Gateway platform.
Step 2: Explore the listed NFTs. Use the ‘Search’ function to look for specific NFTs.
Step 3: Select the NFT you would like to own and use your preferred payment option to complete the purchase. The acquired NFT will be transferred to your Nifty Gateway account or your MetaMask wallet.
How to Sell NFTs on Nifty Gateway
Here is how you can sell your digital art on Nifty Gateway:
Step 1: To sell an NFT, you have to list it on Nifty Gateway. You can do this by clicking the ‘List an Item’ button on the ‘My Collection’ tab.
Step 2: After that, enter information about your NFT, like its price, a brief description, and its name.
Step 3: Now select the payment method. You can choose to sell the NFT for ETH by linking your MetaMask wallet or sell it for USD by registering to become an authorized merchant using Stripe.
How to Gift Non-Fungible Tokens on Nifty Gateway
Nifty Getaway allows users to gift each other NFTs. To transfer an NFT to another user on the platform, open the ‘My Collection’ tab and pick the digital art you want to send. Once done, you will be directed to a new page where you will be required to input the recipient’s username and then click the ‘Send Nifty’ button to complete the transaction. Note that the transfer attracts zero gas fees, and it’s instant.