Nifty Gateway Review
Nifty Gateway is an NFT marketplace that’s entirely dedicated to digital art. It has positioned itself as one of the most important marketplaces in the world since it first launched in 2018. You are going to find a long list of exclusive creators that share their art on this platform, such as Trevor Jones, Deadmau5, and Beeple.
This review is meant to explain everything this platform can do for you, whether you’re a creator or a collector. Keep reading to find out.
- 1 Nifty Gateway at a Glance
- 2 Nifty Gateway Categories
- 3 About Nifty Gateway
- 4 Using Nifty Gateway
- 5 Creating with Nifty Gateway
- 6 Pros and Cons of Nifty Gateway
- 7 Final Thoughts
Nifty Gateway at a Glance
- It focuses on digital art, but you can find some other collectibles
- You can make deposits and withdrawals through fiat currencies
- It uses the ETH blockchain
- Nifty Gateway takes pride in its exclusive artists
Commissions and Charges
Like any other marketplace, Nifty Gateway charges a determined percentage as commission every time a purchase is executed. This percentage is divided into 5% service fees and 10% artist fees.
This adds up to 15%, which is a bit high, but it’s still an expected price for most marketplaces.
Unlike most marketplaces, on Nifty Gateways, you can deposit and withdraw money with both ETH and any fiat currencies using your credit or debit card. This is quite difficult to find in platforms like this, which sets it apart from its competence.
Nifty Gateway Categories
There are several mechanics that you can participate in Nifty Gateway to buy your NFTs. Some of them are:
These Nifties are released at a specific price to which collectors can buy for a particular time and get a limited edition of the NFT.
Packs are bundles of unique Nifties that vary in number and edition.
Auctions usually last for about 24 hours, and during that time, you can place bids to acquire your preferred NFTs.
This method consists of collectors placing a blind bid for a Nifty, and once the time ends, the highest 100 bids may get an edition for the price they invested.
These work mostly the same as silent auctions, except that all the bids are visible during the auction process.
Drawings are meant to test your luck and give all users the same opportunities. These work by opening a limited number of editions for users to get if they enter the drawing; then, they get randomly selected and charged for the NFT.
You need to meet some requirements in order to participate in these drawings, one of the principal ones is to have a verified account and payment method.
First Come First Served
This option is pretty straightforward, as all you have to do is buy the NFT before the page runs out of editions.
About Nifty Gateway
Nifty Gateway teams up with artists and brands to produce premium digital art displays exclusive to this platform. It takes very seriously the selection of NFTs that are going to be displayed on the site. Moreover, artists usually go through a selection process to be allowed to mint and issue NFTs. This is to ensure high-quality art and maintain the platform’s reputation.
Moreover, this company is also very good at generating market hype by having limited-time scheduled releases. You can check when these are happening through their newsletter. However, you should consider pre-registering if you want to buy them, as popular artworks tend to sell out quickly.
Using Nifty Gateway
If you’re a collector, using this platform is as easy as connecting it to your ETH wallet and exploring the site until you see an artwork you like. Then, you can place a bid for it, and you’re going to be charged to execute the purchase.
The exclusive NFTs are called Nifties, and they make an excellent asset for investing due to their uniqueness in the market. It is also a very easy-to-use platform, as it works just like any other e-commerce would.
Creating with Nifty Gateway
If you want to become a creator for Nifty Gateways, you’re going to have to go through a thorough selection process first. The first step is to postulate through a website where you are going to find a formulary. Afterward, you’re going to be interviewed by the creators of the app, who are going to decide if you’re allowed to sell your art on their platform or not.
Then, once you become an official creator, all you have to do is upload your art and let people bid for it. This may give you 10% of the price every time your piece is re-sold.
Pros and Cons of Nifty Gateway
Before diving into this marketplace, you should review the following pros and cons that we found.
- The exclusivity of its pieces
- Its wide variety of purchase options
- You can use ETH or fiat currencies to make deposits and withdrawals
- There’s a display app available to show your Nifties
- It is a famous marketplace
- Its fees are pretty high
- It has been hacked in the past
A Few Interesting Facts about Nifty Gateway
- It has a net value of $1.2 billion
- Nifty Gateway recently went viral due to a big artwork theft that cost thousands of dollars to some artists
- You can find a wide range of artists on the platform, even DJs and rappers
- NFT have a unique name which is Nifties
- A collage of Beeple was sold for over $69,000,000 on this platform
After this review, we concluded that Nifty Gateway is a fantastic marketplace for buying and selling digital art. It provides you with the exclusivity of real art galleries and the comfort of online marketplaces.
If you’re looking for the perfect place to begin your NFT journey, we highly encourage you to give it a try to Nifty Gateway and start making your Nifty collection grow.