As everything is getting virtualized, Nifty gateway is the next step into that revolution. We love to collect digital assets like art, picture, animation, figure, game-items, and so on. But, there is a chance to lose the item forever. If your account gets suspended or deleted, you may lose everything in it. There will be no chance to recover anything from it.
In that case, the Nifty gateway comes to the rescue. It is a virtual platform where you can collect items permanently and create a showcase of them. The service doesn’t end here. It is a virtual market where you can also buy, sell, or trade those assets. Follow our nifty gateway review to learn more about them.
Who Owns Nifty Gateway?
Nifty gateway was founded by the Cock Foster brothers. This promising project picked interest from many blockchain-based companies. Although, it is the Winklevoss twin brothers to reach them out.
Winklevoss twins, Cameron Winklevoss and Tyler Winklevoss, have been in the crypto business for a long time. Their project Gemini has earned a professional reputation because of the services. Nifty gateway is built on blockchain and Gemini suits it the most. Following that, Cock Foster and Winklevoss brothers have reached a commercial agreement to merge their projects.
In 2019, Gemini and its owner Winklevoss twins acquired the Nifty gateway. Although the fee is undisclosed. NFT gateway is Winklevoss twins’ first-ever commercial investment.
NFT Market Size
Non Fungible Token market size is growing each day. It is a promising project that will reach a new milestone with its success. Putting them in number, there are more than 5.1 million sales have been done already.
The total volume has reached over $158 million. The volume is different compared to other currency conversion rates. It is 300k+ ETH, 588+ million MANA, and 37k+WETH. The market has reached a 110% growth rate recently. It is expected to surpass that record in near future.
What Is A Nifty?
No digital item is invincible. If the brand ends its project or your account gets destroyed, you will lose the item either way. There is no other way to keep it forever. But, it is possible now. Unlike those simple market goods, blockchain technology ensures an item’s permanence. Nifty is known as NFT which means non-fungible token. It can be called a nifty gateway token as well.
When a digital item is transformed into a Nifty, it will never disappear. The transaction will be maintained by the nifty blockchain. A Nifty is an item that you can keep as a digital collection forever. You can even trade, buy, or sell them through a blockchain gateway. The rarer the Nifty, the higher the price will be.
Nifty Gateway Drops Exhibition Guide
Nifty gateway contacts famous artists and collectors to get their special quality or limited edition items. Once every three weeks, they arrange a special event known as the drop. There, all the newly collected items will be available for a limited time.
This drop exhibition is the best chance for you to collect any item at the lowest price. Once the time ends or the quantity sells out, you can only buy them in the market. Sometimes, it will cost much more from the secondary market. So, taking the best out of a drop event is an efficient way to snatch a rare item. Below, some instructions for the best experience.
- Every second is important. Start to explore at the exact time.
- Always go for the purchase.
- Complete account and payment option for fast purchase.
- The server can slow down during a drop event so have patience.
- For a purchase failure, look at the secondary market.
How To Deposit Nifty From External Wallet To Nifty Gateway?
There are many important terms for depositing nifty into the nifty gateway. There are some advantages and some limitations in the process. First of all, you can’t just deposit nifty from anywhere. You have to follow some strict procedures to get the deposit. Follow our Nifty Gateway guide below.
Nifty Gateway Metamask – Connect To MetaMask Wallet
MetaMask wallet is the only way to deposit into a Nifty gateway. It is a browser-based wallet that is used as an add-on. It connects the wallet directly into the blockchain. If you have Nifty in a different wallet, deposit into MetaMask first and use them through it. As a reminder, you can only deposit one at a time.
Confirm Wallet Ownership On Nifty Gateway
Depositing Nifties into the metamask account requires a verification process. Without an ownership verification, you can’t deposit. Select the verify ownership option in the account info and it will redirect you to the verification page. Provide necessary information to get the verification. As a reminder, you can connect only one external wallet with a metamask account.
Transfer Nifties From Verified Wallet To Nifty Gateway Wallet
If the verification is done without any issue or restriction, depositing is pretty easy. You just have to check the eligibility with their terms. If you are eligible, just go to the deposit nifty page and send your items into the connected nifty gateway. Check your gateway account to confirm the transfer. There will be notification for any ineligibility.
How To Buy On Nifty Gateway Marketplace?
There is nothing complicated about buying a nifty from the nifty gateway marketplace. You just need balance in your wallet. Go to the marketplace and choose any item of your desire. Pay it with a nifty gateway crypto or credit card.
You can buy through the auction in a drop event and secondary market. Whatever you like, just click on the buying option and it will finish. Select your storing option between metamask and gateway account.
How To Sell On Nifty Gateway Marketplace?
Go to your nifty gateway account and select the nifty you want to sell. Click on the selling option, put a price, and confirm the sale. Approve the transaction and the gateway will take responsibility to get it into the nifty market. You will get a notification once the sale is over.
How To Cash Out From Nifty Gateway To Your Bank Account?
There are two policies available. For US customers and international customers. You can only cash out into a bank account if you are a US customer. As an international customer, you can cash out into your Gemini account. Follow the given instruction.
US Customer Guide To Cash Out From Nifty Gateway
- Go to Niftygateway.com
- Log in to your nifty gateway account.
- Go to the balance page.
- Add your bank details.
- Verify your bank account with proper information.
- Select cash out to Bank option.
- Withdrawal will take place instantly but it can take up to 3-5 business days.
International Customer Guide To Cash Out From Nifty Gateway
- Log in to your nifty gateway account.
- Go to the balance page.
- Add a Gemini account to your bank details.
- Verify Gemini account. It can take 1hr-2business days to complete.
- Click on the cash-out option and put your number.
- Confirm the transaction.
Displaying Nifties – Nifty Gateway Display
Usually, you can display the collection in the profile by default. No extra setting is necessary. Go to your profile and select available customization for collection. There is another option like the nifty gateway app to display on android TV. Download it from the play store and connect your account.
Nifty Gateway 2.0
Gemini has an announcement about the new upcoming nifty gateway 2.0 version as an upgrade. Although there is no clear note about the improvement or update. One will expect that they will add new features along with a wide market option. We have to wait to see the development.
Potential Nifty Gateway Token Airdrop
Airdrop is a recent phenomenon with Uniswap and 1Inch exchange dropping thousands of dollars of tokens to their early users for their adoption. In the same way, Nifty Gateway Tokens could be airdropped to participants of Nifty Gateway Marketplace. So, it is better to make one transaction and also learn what NFTs are all about.
But, there is also some talks that Winklevoss twins will never launch something with uncertainty and will wait for regulations to clear. So, maybe the airdrop may not be happening soon.
Finally, whatever happens, just try the NFT Gateway Marketplace just to experience the new technology and treat any airdrop if it happens as a bonus.
Nifty Gateway Review
Nifty gateway is the portal of eternal ownership. The day of losing your digital item is finally over. The well known crypto exchange company Gemini owns Nifty Gateway. Winklevoss twins have acquired and merged it into their Gemini project. Through a blockchain transaction, the nifty gateway allows you to buy, sell, or trade an item.
NFTs connect world famous artists and digital collectors. Nifty gateway offers their limited-edition and exclusive items through an event known as the drop. This exhibition even is like an auction. You’ll win the art or item if you place the highest bid. You can place a bid with cryptocurrency or real currency. You can get anything available from the nifty gateway stock after a drop event.
It is a verified platform and getting global recognition. The initial growth of this platform and nifty is getting higher day by day. A common belief is that nifty gateway’s blockchain transactions policy will take over the virtual market pretty soon.
With a feature like permanence along with cryptocurrency allowance, it is certainly possible. NFT gateway is promising enough to be the ideal next-gen virtual marketplace. Try out and have a taste of this amazing platform.
Nifty Gateway Hack
Over the last couple days, multiple users of Nifty Gateway, a marketplace for buying and selling non-fungible tokens (NFTs), reported on Twitter that their accounts had been hacked and then drained of thousands of dollars worth of digital art.
This is more like a modern day money heist over the internet. Many investors took to Twitter earlier on. Some even claimed that their credit cards were used to purchase more NFT and then later they were transferred to other accounts.
The burglars compromised valid user accounts, negotiated undisclosed sales through a Discord server, and then transferred NFTs to buyers for free on Nifty Gateway, according to multiple victim accounts posted on Twitter.
The theft marks one of the first known incidents of digital art theft, but the rapid adoption of NFTs suggests it will not be the last. According to NFT Report 2020, the NFT market grew almost 300% last year and is now valued at roughly $250 million, making it an attractive target for hackers.
Hackers took over multiple accounts on the digital art marketplace Nifty Gateway this weekend, stealing hundreds of thousands of dollars worth of NFTs, or non-fungible tokens. The company says that users not enabling two-factor authentication is to blame.
A spokesperson for Nifty confirmed the spate of fraudulent activity, saying that the users who were affected didn’t have two-factor authentication turned on.
The hacking happened just a week after digital art backed by an NFT sold for almost $70 million at Christie’s. According to a report by The Wall Street Journal, it was the most expensive digital asset to ever sell with an NFT.
Nifty Gateway NFTs Available To Trade
Nifty Gateway is an exclusive NFT platform that has taken the blockchain world by storm. The platform blends crypto-technology and collectable artwork to create a rich suite of high-value, tradable assets, bringing a world of new investment potential.
Since its acquisition by the Winklevoss twins, Nifty Gateway 2.0 launched with new features including services that tapped Google and Facebook’s API.
Nifty Gateway is an exclusive marketplace reserved for music and artwork which has been curated by the Nifty team. Popular DJs and musicians such as Deadmau5, Carl Cox, Gramatik, Ozuna and rapper, Lil Yachty have all had drops, with sales reaching into the thousands of dollars.
Murals of famous sports players such as NBA basketball player, Kobe Bryant or footballer, Mesut Ozil are popular. Plus there are collaborations with sports organisations such as OG Esports.
And then you have your classic NFT artists that started it all, such as Beeple – whose digital collage of 5000 images sold for over $69 million. Plus, Trevor Jones and his Bitcoin Angel artwork, Mankind, known for his captivating collection of moving pieces, and New York-based artist, Kenny Scharf.
What Blockchain Is Used In Nifty Gateway To Trade NFTs?
Nifty Gateway is owned by parent company, Gemini LLC, which is a cryptocurrency exchange and New York trust company with two owners, the Winklevoss twins. Nifty Gateways itself was founded by two twins before it was purchased by Gemini
Nifty Gateway is an exclusive NFT platform that is popular within the blockchain world. It essentially combines crypto-technology as well as collectible artworks in an attempt to create a rich suite of high-value, tradable assets which bring a world of investment potential.
Nifty Gateway is a top NFT art marketplace built on the Ethereum blockchain with backing from Gemini, the crypto exchange created by the Winklevoss Twins.
Pros And Cons Of Nifty Gateway
Pros Of Nifty Gateway
- Very user friendly thereby being good for beginners and experts from all levels. No need to be a skilled market analyst
- You can actually use your credit card to buy NFT directly without the need to open up various crypto accounts and or purchasing certain coins.
- Wide variety of exclusive artists and genres , from digital art to music , from painting to pencil art etc
- You can easily exchange your NFT in the market and don’t have to do thorough research.
Cons Of Nifty Gateway
- As an artist at beginner level you have to struggle so much to get meaningful notice.
- There is no actual wallet for NFt which is stable enough
- NFT has had various hacking attacks with people losing their NFTs
- Two key authentication sometimes is a failure but it is always on repair.
How To Purchase A Nifty?
Participants buy lottery tickets for a fixed amount (the principle amount) to enter into the draw. The principle amount is set by the pool creator.
At the end of the running time of the lottery pool, the winner is selected randomly by a smart contract and the principle amount is automatically swapped for the auctioned NFT. The pool creator claims the money raised from the sale, while the winner will claim the NFT from the pool.
Participants that are not selected as a winner, can claim their principle back from the pool.
The NFT lottery auction is built for mass usage. The maximum number of participants that can enter into a draw is 60,000 people and the solution is gas-friendly with low fees to enter into the draw. Fairness and integrity are secured by random selection and execution by smart contracts.
Global Offers: Collectors submit an offer for an NFT. Owners of that NFT receive a notification and are able to sell at the proposed price if they are willing to do so.
This is more like bidding. Many people offer various prices for a certain nft then the seller gets notifications and out of that he chooses the best offer and the best buyer and there’s the nft to the buyer.
Online Blind Bid Auction
Online Silent Auctions:Bidders place blind bids and are only informed whether they obtained the item after the auction.
On this one the buyer is the one that is informed when the bid is successful unlike the previous method where the seller is the one that is notified.
Open Burst Sale For Five Minutes To Fifteen Minutes
Open Editions: The quantity of a specific NFT is made infinite for a short period of time, such as 5 to 15 minutes. Interested collectors are then able to get their hands on the artwork more easily.
This kind of purchasing method requires you to be so active and look out for more opportunities as the opportunities don’t come so frequently. But using this method one may be able to make huge sales or rich purchases of nft at a very short period of time.
How To Display Your NFT In Nifty Gateway?
Go to the Google Play Store, download the Nifty Gateway App, and connect it to your Nifty Gateway account. It takes minutes to get started. You can broadcast your nifty to any compatible tablet or TV (android enabled) to display via the Nifty Gateway Display app.
Nifties are automatically displayed in your profile as a collection. Share the URL to your profile with anyone, and they will be able to go directly to your profile and see your collection.
You can also share your items on Twitter, Instagram, etc., by linking your social accounts to your profile or downloading high-res versions of the work.
You can broadcast your nifty to any compatible tablet or TV (android enabled) to display via the Nifty Gateway Display app.
Nifty Gateway Fees
Most pieces have 15% fees. It’s a 5% service fee and a 10% artist commission/creator fee. Some pieces have higher creator fees but those are called out in the description of the art during the primary sale.
Nifty Gateway takes 5% + 30 cents of every secondary sale, to cover credit card processing fees and to keep its platform running.
Ethereum Gas Fees To Trade NFT
The primary currencies used on NFT trading platforms include Ether, WAX, and Flow. On most NFT trading platforms, users are responsible for paying for the computing energy required to process and validate transactions on the blockchain. The gas fees fluctuate depending on the time of day.
Nifty Gateway Customer Support
Nifty Gateway will provide customer support for your account activity, and can be reach at [email protected]. Some transactions on their site may be facilitated and run by Metamask. Any such transactions are governed by the Metamask Terms of Service and Privacy.
How To Buy On Nifty Gateway Marketplace?
The NFT gateway is basically like Amazon or Alibaba is just a normal market place but selling artwork pieces music and all that stuff. So this many depends on your surfing skills you have to explore the market go through all the items and check the one that suits you best and make a purchase.
First things first, you will need to set up an account from where you will be operating the purchase and trading of the nft. So let us pick up on the process of making an account:
- Make a Nifty account. To purchase NFTs when they release, you’ll need to make and verify an account with Nifty Gateway.
- Buy a wallet (optional). Cryptocurrency wallets can be used to store your NFTs securely
- Buy a piece from the collection
How To Sell On Nifty Gateway Marketplace?
How can I sell a nifty on Nifty Gateway? Go to niftygateway.com, go to your Metamask wallet and click on a nifty in it. Pick a price and click ‘Put on Sale,’ and a Metamask transaction will appear. Send the transaction to approve your Nifty Gateway account to sell the nifty for you.
How To Cash Out From Nifty Gateway To Your Bank Account?
If you are a US Customer, you can withdrawal directly to your bank account, or withdraw via Gemini.
To Withdrawal, click “Menu” in the upper right-hand corner, select “Account”, and then clicking “ Balance / Cash Out” in the left-hand navbar. You can also navigate to the “Balance / Cash Out” page directly by going to https://niftygateway.com/balance.
From the Balance Page, you need to connect a bank account or a Gemini account. If you haven’t connected a bank account, click the large “Click Here to Connect a Bank Account” button, or click Connect a New Bank Account. This will walk you through the process, which takes about 30 seconds – Nifty Gateway uses Plaid to help you connect to your bank account, and it is a super easy process.
Frequently Asked Questions (FAQ)
Is Nifty Gateway Legit?
Overall, if you’re a digital art fan, Nifty Gateway is one of the best marketplaces for NFT trading. Its partnership with world-renowned artists makes it perfect for those looking for NFTs with investment potential
Nifty Gateway is a legitimate NFT trading platform that utilises the Ether blockchain to mint digital artwork. It is owned by Gemini, the cryptocurrency trading platform regulated by the New York State Department of Financial Services (NYSDFS
Can Anyone Sell on Nifty Gateway?
Anyone can apply to be a creator and as an artist, they get to choose what commissions they receive, it could be 5% of every secondary sale, or 50%. Nifty Gateway takes 5% + 30 cents of every secondary sale regardless of artist fee.
Yes anybody can sell on nft but for a beginner it is somehow challenging. On the bright side one can shoot from beginner to pro in just a few days. This depends on the type of content that you create your content must be eye-catching and unique so that buyers may get to know you.
How Does Nifty Gateway Make Money?
Mostly NFT works on a give-and-take kind of basis. They operate on taxes and some revenues that are charged on sales and secondary sales from a creative content. A certain amount in terms of a percentage is taken from a cell and from this NFT is able to run its operation and make money.
Nifty Gateway makes its revenue from taking royalties on a percentage of each sale made, including secondary sales made through the marketplace. When a Nifty is sold, the platform takes 5% of the sale price in fees and taxes, plus 30 cents to cover transactions fees.
How Can I Invest In Nifty Gateway?
Where the first basic step is creating an nft account for this one it is just a very simple process. You will require an email address or password and possible a phone number. For a phone number verification of the account will be very simple the same with the email. After complete setup of the account the next step is greeting our e-wallet why you be storing your nfts and purchase money.
Cryptocurrency wallets come in many forms, but the 2 most common cryptocurrency wallet types are hardware and software wallets. Software wallets are programs that store cryptocurrency on your computer, and they’re typically free-to-use.
Hardware wallets are physical devices that store your crypto and NFTs on a physical device offline, so it’s the most secure way to store your crypto assets.
Cryptocurrency wallets can be used to store your NFTs securely. Any wallet that supports ERC-721 Ethereum tokens can support NFTs on Nifty Gateway. Although many people just keep their NFTs on the exchange they purchase them on, this isn’t the most secure way to store your collectibles, as exchanges are much more prone to being hacked than crypto wallets.
The bird and the final step is purchasing actually the nft. 50 common major league divisions the Open the limited and the auction please refer to our article above for more information.
How Can I Sell On Nifty Gateway?
Go to niftygateway.com, go to your Metamask wallet and click on a nifty in it. Pick a price and click ‘Put on Sale,’ and a Metamask transaction will appear. Send the transaction to approve your Nifty Gateway account to sell the nifty for you.
Is Nifty Gateway Safe And Secure?
How secure are NFTs? The short answer to this is not very secure. … In March, attackers compromised multiple Nifty Gateway NFT user accounts and were able to both transfer the previously purchased NFTs from their account and purchase new ones to transfer with their payment cards on file.
While purchasing and selling NFTs on Nifty Gateway is safe, it should be noted that it is a custodial NFT marketplace, meaning the NFTs are not stored in your wallet, but on the platform.
How To Change Ethereum Address On Nifty Gateway?
Pre-paid ETH is a Nifty Gateway feature that allows users to deposit ETH and make purchases against their ETH balance as another payment method.
To deposit your ETH into Nifty Gateway, first, locate your Prepaid ETH balance within the Payment Methods section of your Account Settings -> payment methods. From here, you’ll generate a unique wallet address to send ETH to (deposits will be credited after 6 confirmations).
After you’ve topped up your Prepaid ETH balance, you can use your ETH to pay for nifties on the site. You’ll be able to bid in auctions, make offers, and purchase from the secondary using your available ETH balance.