What is Nifty Gateway? How to Buy & Sell NFTs
Here's everything you need to know about the Nifty gateway, how to buy and sell NFTs on the platform.
As NFTs become more popular, marketplaces for NFT collections begin to pop left, right, and center. Among all the marketplaces, one that stands out and got our attention was Nifty Gateway.
What is Nifty Gateway? In this post we’ll walk you through what Nifty Gateway is, the platform’s benefits and drawbacks, and how to purchase and sell your first Nifties.
Please Note that
Easy Crypto is not affiliated with Nifty Gateway, however we think it’s a beginner-friendly platform for those wanting to experiment with NFT. The crypto space is dynamic, so back yourself up with further research that you conduct on your own.
What is Nifty Gateway?
Nifty Gateway is a blockchain-based marketplace that lets its users buy and sell non-fungible tokens (NFTs), just like how you would shop for items on e-commerce websites.
This platform has sold top artists and brands NFTs including those of Beeple, Pak, Refik Anadol and other widely followed NFT artists.
Nifty Gateway also enables users to gift NFTs to a loved one. You can achieve this by simply sending an NFT to any valid email address and pay using Ether (ETH).
Nifty Gateway was founded in 2018 by twin brothers Duncan and Griffin Cock Foster, who were later acquired by the Winklevoss twins.
Pros and cons of Nifty Gateway
|✔️ Easy to Use – Nifty Gateway provides a user-friendly experience.||❌ ETH only – You’ll need ETH to pay for NFTs with crypto.|
|✔️ Top Creators – Home to high-profile creators with popular assets.||❌ It is costly – High-end platforms comes with Expensive Items.|
|✔️ Easy Payment – Allows users to make payments with fiat, credit and debit cards.||❌ Safety concerns – Nifty Gateway was already experiencing security issues when users lost their Nifties and Tokens.|
|✔️ Gifting Features – Members are allowed to give NFTs as gifts to others||❌ US bank customers only – Bank withdrawals are not available to customers outside the US.|
|✔️ Rare Collections – Place of Rare/High-end NFTs for serious collectors.||❌ Mobile apps for viewing only – Right now, the platform has no official iOS app and the Android app is for Displaying NFTs.|
In summary, the platform is easy to navigate, offers simple account creation, and supports both fiat and ETH purchases.
What is Ethereum (ETH)? Read our complete guide on the Ethereum network.
Getting started on Nifty Gateway
To start using Nifty Gateway to buy and sell NFTs, you need the following:
- Supported Ethereum crypto wallet: such as MetaMask, Trust Wallet, etc.
- Cryptocurrencies to buy: Nifty Gateway currently supports transactions using Ethereum (ETH), while for Fiat currency they enable credit and debit cards.
In addition to the gas fees you pay when buying, selling or reselling NFTs on the site, Nifty Gateway is subject to a 5% + 30 cents fee that goes toward payment processing expenses and operating costs.
Setting up your wallet
To store your cryptocurrencies, you will need a crypto wallet supported by the platform. Some wallets you can use are Trust Wallet, Metamask and more.
To give you a better idea of how to set up a wallet, we’ll use the Metamask as an example.
Metamask is an Ethereum wallet that allows you to interact with non-fungible tokens (NFTs). You can use it to deposit, withdraw funds, store NFTs and more. You can also connect Metamask wallet to Nifty Gateway.
The Metamask wallet are available for desktop and mobile devices. Go to the official Metamask website to download the right app for your device.
Check out our step-by-step guide on how to set up your Metamask wallet.
How to buy NFTs on Nifty Gateway?
Step 1. Visit the Nifty website and create an account.
When you’re ready to buy NFTs, you’ll need to set up an account with the Nifty Gateway. Creating an account is simple and straightforward — just enter your email address and create a username and password.
Step 2. Get your crypto funds ready
You can use many different types of transactions in Nifty Gateway, but I’ll show you how to connect the easiest one.
- Connect your wallet
Now that you’ve created a Metamask Wallet, it’s time to connect your wallet with your Nifty Account. → From your profile picture, click on “Account Settings.” Then click on “External Wallets.” From there, you can connect your wallet with your account.
Get the step-by-step details on how to connect your wallet with Nifty.
- Alternatively, use your credit card
If you want to purchase NFTs directly with your credit card, here’s how to connect it first: Click on your profile, then go to “Account Settings.” Then click on “Balance & Payment Methods.” And from there you can connect your credit card with your Nifty account.
Step 3. Buy your first NFT.
Once your account is funded with some Ether (or credit card), you can now choose and purchase whichever NFTs that you want.
If you see a “Buy Now” button on an item’s page, it means the seller has set a fixed price for their NFT. Clicking this button will send crypto directly to the seller and a transfer of ownership will occur on the Ethereum blockchain.
On the other hand, if you see a “Make Global Offer” button, it means that the NFT is not listed for sale by the owner. However, they may accept offers.
How to create NFTs on Nifty Gateway?
Step 1. Get your digital collections ready.
You can use an image of your artwork, a photograph you’ve taken, or any other work that can be converted into a digital file. After everything has been prepared, the following steps will help you create your NFT on Nifty Gateway.
Then fill out the form with your full name (as it appears on your government-issued ID), a video intro about yourself, your social media links and your NFT portfolio.
You will be asked questions about your goals as a visual artist, so make sure you know what you’re getting yourself into.
Finally, you’ll be asked about your NFT project style, which can be any of the following: artworks, music or a sport.
Step 2. Community Support
Now that your collections are ready, and your account is verified, it’s time to build a community!
This is an important part of any NFT project — no matter how big or small. Building a community of fans who will love and defend your work is part of the journey. Building this community will help you sell your NFTs easily, just like all other kinds of marketing.
Step 3. Selling your NFTs on Nifty Gateway
Remember that NFT minting platforms are part of the decentralized web, and you must use a crypto wallet (such as Metamask) to pay for minting fees by connecting it to the platform.
Once you’ve connected your wallet as instructed above and got your account validated by their team, you can put your collections on sale.
To put an NFT up for sale, click on your profile image in the top-right corner of the screen and select ‘Profile.’
You can list your NFT for sale by selecting the “List for Sale” option below the Release Date. Once you’ve done that, you’ll be taken to a page where you can enter a price for your item and confirm your listing.
Nifty Gateway allows you to start your NFT journey by buying, selling, or even gifting NFTs to friends and family.
The NFT marketplaces out there are all different in their own way, so it’s important to find one that suits your needs.
Nifty provides a highly exclusive marketplace for people who want to buy and sell NFTs within their communities, with a selection of easy payment options you can choose from.
And when it comes to crypto payment, Easy Crypto can help you simplify your journey by offering more than 160+ cryptocurrencies to choose from, including Ethereum, Bitcoin, and many more.
Further reading: Learn and explore all things NFTs on our learning Hub.
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Disclaimer: Information is current as at the date of publication. This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated December 6, 2022