The demand and public interest in nonfungible tokens increased in 2020 and onwards. People started trading digital cards, music, artwork, and other assets. Nifty Gateway is one of the popular marketplaces dealing with digital assets.
The platform operates on the Ethereum blockchain network, working with multiple digital brands and musicians. The platform earned about 403 million dollars during the NFT peak in 2020-21.
In this guide article, we will learn about the distinct characteristics of Nifty Gateway and how to buy and sell nonfungible tokens on the platform.
Unique Features of Nifty Gateway
Nifty Gateway operates on the Ethereum blockchain, where certain features highlight its importance more than others.
Verified and Focused Art
Nifty Gateway marketplace usually applauds and recognizes all the artists launching their artwork on the platform. Many of them are categorized as celebrities making their work costly and verifiable. The platform is selective, not allowing everyone to display their digital work.
Exclusive Drop
A creator might release any collection of nonfungible tokens for sale. This situation is known as exclusive NFT drop. Customers hurry to buy these tokens before they get out of stock. Nifty Gateway also releases such collections of digital art. The tokens are released in limited amounts and quickly finish in the market as per high demand.
On-Ramp Fiat Accessibility
Account holders in the US can buy NFTs through US dollar fiat. Therefore, people on the Nifty Gateway can use their credit or debit cards to buy NFTs. Many other marketplaces do not allow this feature, where users use a Web3 wallet to access different assets.
Method to Start with Nifty Gateway
Users must follow simple steps to create an account with the Nifty Gateway platform. Firstly, they must sign up on the platform’s official website using an authentic email and password. In addition, they can also connect through Web3.
Next, users must provide their basic credentials and information as the platform requires. Lastly, they must choose the payment options from the three available ones. Users can connect their cards, pay through the Gemini wallet or use any Web3 wallet.
Buying NFTs on Nifty Gateway
Nifty Gateway offers a simple procedure for users to buy NFTs. Firstly, they need to visit the Nifty Gateway marketplace. Users can look for their required NFTs in the collection by searching through categories such as collection, artist, etc. The last step is to buy any NFT using the desired payment method. The NFT is transferred to the Nifty Gateway account or any other integrated wallet.
Selling NFTs on Nifty Gateway
Selling NFTs on Nifty Gateway is also simple. The user has to visit his NFT collection for sale and list the desired NFT. After that, he has to add all the required details of the listed NFT. Users can sell them through the direct payment on MetaMask wallet, or they can get fiat currency in US dollars. The funds are then added to his integrated wallet.
Gifting NFTs on Nifty Gateway
Nifty Gateway allows its users to gift NFTs through the platform. Users have to visit their collection and choose the desired token to be sent. Next, he has to enter the recipient’s details and send the token. The NFT is transferred immediately, and the process requires no gas fee.
Fee Structure and Pricing of Nifty Gateway
Nifty Gateway offers two standard fee models V1 and V2, as per the ease of the customers. The V1 model allows users to use their cards, wallets, or accounts and pay a 5% charge on the sale price of the token. However, the V2 model uses Ethereum to pay for the tokens and charges a 2.5% cut on the sale price.
Conclusion
Many well-known artists and celebrities use Nifty Gateway to display their artwork. The platform is regulated by multiple reputable authorities to ensure transparency. However, conducting initial research before investing in the platform is essential.
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