Through this Nifty Gateway NFT review, we hope to help you better understand this NFT exchange platform. In the wake of cryptocurrencies, NFTs are seeing continuous adoption. The years 2020 and 2021 were undoubtedly years of glory for these non-fungible tokens, with several NFTs selling for tens of thousands of dollars, even millions for a few.
Since 2022, a certain return to normal has been observed in the market. But this is probably the calm before a new storm. In any case, if you are interested in the crypto sector and related technologies, you stand to gain as much information as possible about the platforms and tools you interact with. Thanks to this Nifty Gateway NFT review, this platform will have no more secrets for you.
What is Nifty Gateway?
As stated on their website, the Nifty Gateway platform aims to make NFTs accessible to everyone. Created by the Foster brothers, Griffin and Duncan Cock, Nifty Gateway officially started its activities in 2018. Its launch was notably supported financially by the California-based investment company Boost VC.
The platform, accessible via niftygateway.com, seems destined for a bright future, driven by an innovative approach. The Winklevoss brothers, founders of the Gemini crypto exchange, bought it back almost immediately in 2020. The same year, a golden period for non-fungible tokens, Nifty Gateway’s NFT sales quickly reached several million dollars. In 2021, niftygateway.com even recorded over $250 million in NFT sales!
The platform’s success stems from its selection criteria for the NFTs put up for sale. From the outset, the creators stated that they wanted to help young artists gain more opportunities to showcase their talent. While this ambition could have resulted in an influx of digital creations of all kinds, Nifty Gateway managed to establish a rigorous protocol through which only NFT artworks with proven artistic value and meeting certain conditions are put up for sale. This concept attracted artists like Beeple and Steve Aoki but also brands like Marvel. Unsurprisingly, to date, Nifty Gateway holds several records for the most expensive NFTs.
Nifty Gateway operates as a centralized NFT platform. It therefore owns the NFTs it sells, and makes them accessible internally for its users, without forcing them to have a digital wallet. According to the platform, it would host around 23,000 NFTs!
The Advantages
Thanks to the rigorous selection that governs the choice of non-fungible tokens that it sells, the Nifty Gateway NFT exchange platform leads artists to a self-evaluation of their work. If they manage to overcome the platform’s requirements, they know that their work meets certain quality standards. On the buyer side, Nifty Gateway’s policy guarantees access to rare NFTs. As investors, they then know that the funds thus committed are likely to be valued over time. Beyond these background parameters, buying NFTs via Nifty Gateway is interesting in other aspects as well, such as ease of use and diversity of features. Here is a summary of the strengths of this NFT exchange below.
Buying NFTs via Nifty Gateway: Pros
- Simple to use platform.
- High-quality NFT creations.
- Secure transactions, thanks in particular to Gemini’s technology contributions.
- A diverse catalog, allowing you to access NFTs that can be used for various purposes.
The Disadvantages
Even though Nifty Gateway meets the criteria to be a quality NFT platform, not everything is perfect. On some points, there are undeniable criticisms that could be addressed to niftygateway.com. In our analyses to present you the Nifty Gateway exchange and reviews of its services, we were notably able to identify its centralized character as a major flaw in Nifty Gateway’s operation.
By operating in this way, Nifty Gateway can simply evaporate into thin air with the NFTs held in its systems. Moreover, the strict selection to which NFTs are subjected before being posted on Nifty Gateway, although relevant, is somewhat akin to a form of exclusion. Related or unrelated to the points mentioned, discover below the key negatives associated with Nifty Gateway NFT.
Buying NFTs via Nifty Gateway: Cons
- Centralization creates risks of irrecoverable loss.
- Transaction fees on Nifty Gateway are too high.
- The platform lacks transparency on several aspects (selection criteria for artists, auction process, etc.).
What NFTs can you buy on Nifty Gateway?
As a reminder, NFTs are non-fungible tokens. As opposed to cryptocurrencies, they are non-exchangeable, and each has an intrinsic value based on its content. There are thus several categories of NFTs. On Nifty Gateway, NFTs, specially called nifties, are grouped into 5 main categories.
Collectible NFTs
This category is similar to collectible items. It contains mainly vintage content, which many people have remained attached to, and which has therefore been converted into NFTs. The Marvel Mighties NFTs, a collection from the Marvel movie production house, belong to this category.
Social NFTs
Social NFTs include exclusive content intended to be used on social networks or platforms, or to encourage a creator or institution through their digital channel. Here you will find NFT banners, charity NFTs, NFT member access, etc.
NFTs by artistic styles
To help its users more easily identify nifties matching their preferences, Nifty Gateway groups NFTs representing works from one movement or another into the “Styles” category. In this category, you can access monochrome NFTs, cubist NFTs, impressionist NFTs, etc.
Gaming NFTs
The most popular category, gaming NFTs includes representations of game content in non-fungible tokens. NFT gaming enthusiasts can purchase rare non-fungible tokens to store or use during game sessions.
Art NFTs
Finally, this category includes NFTs generated to shift real works of art to the blockchain. It offers non-fungible tokens associated with films, songs, or even photographs. You can also access artificial intelligence artistic creations.
What are the different services and features offered by Nifty Gateway?
In the NFT universe, as in the crypto universe, features play a central role. So there is more than just the ability to buy NFTs via a platform that constitutes a relevant feature. On Nifty Gateway NFT, you have access to a platform that offers you a wide range of services and features.
Buying NFTs
The first possibility Nifty Gateway offers is of course buying NFTs. The NFT exchange makes two types of markets available to you, on which you can freely buy NFTs. On niftygateway.com, you will sometimes become aware of exclusive NFTs, published in collaboration with brands or artists. These are the primary market NFT collections; their sale takes place for the first time.
In parallel, you can also obtain nifties already purchased by users, then resold by them. This is the secondary market.
Creating NFTs (NFT minting)
Before selling an NFT, you first need to create it and put it on a network. This is also called minting an NFT. Creating an NFT, then minting the NFT, consists of associating the digital content with an address on a blockchain. For NFT creation or any other operation, Nifty Gateway supports the Polygon, Ethereum (buy ETH here), and Immutable X blockchains.
To mint an NFT on Nifty Gateway, you must first create your account. You will then need to upload the digital content (audio file, image or video). Finally, determine the number of copies to sell and the price, then wait for the platform to validate your NFT.
Selling NFTs
Unsurprisingly, Nifty Gateway also offers NFT sales. For users following an investment logic, the platform serves as a buying and selling space. They acquire NFTs, and then put them up for sale when the period is favorable for an increase in value.
After logging into your account, the user wishing to sell an NFT must select it from their wallet or dashboard, and click on the sell button. They will then have to make the necessary configurations by defining the sale price. They also set whether they want to sell at a fixed price, or through closed or open auctions.
L’exposition de NFTs via la fonction Nifty Gateway Display
Cette fonction a pour objectif de permettre à un utilisateur X de faire découvrir sa collection aux autres collectionneurs ou utilisateurs. Pour ce faire, il lui suffit de partager le lien de son profil avec d’autres. En cliquant sur le lien, les autres utilisateurs accèdent à l’exposition de l’ensemble des NFTs de l’utilisateur X.
Displaying NFTs via the Nifty Gateway Display feature
The purpose of this feature is to allow a user X to showcase their collection to other collectors or users. To do this, they simply need to share their profile link with others. By clicking on the link, other users can access the exhibition of all of user X’s NFTs.
Participating in events and NFT drops
Nifty Gateway frequently organizes virtual events, which can usually be accessed with NFTs. Events can take the form of auctions, a lottery, or the launch of a new collection with a celebrity. These events can aim to highlight a given collection. Similarly, they can aim to reward users. In this sense, Nighty Gateway relays event-related information through its various channels. In most cases, participation in each event requires the execution of certain instructions.
NFT drops are a form of event. They take place when a new collection is launched, where the platform, in collaboration with the artist or brand behind the collection, sells a few NFTs exclusively. NFT drops are held regularly for collections including thousands of NFT copies.
Fees charged on the platform
Fees on NFT platforms are a sensitive issue. In addition to playing a key role in competition between platforms, they are a sensitive parameter for user decision-making. In general, fees related to NFT transactions mainly occur at the time of purchase. On most platforms, these fees are expressed as a percentage of the value of the NFT purchased. A similar principle is observed on Nifty Gateway.
Nifty Gateway fees correspond to 15% of the value of the NFT you buy. On the market, no NFT platform charges such a high percentage. At the mention of the Nifty Gateway exchange, reviews can therefore prove negative precisely because of the issue of fees. However, in the case of physical works of art, art galleries regularly charge around 30%. Following its logic of establishing a virtual art gallery, Nifty Gateway therefore offers lower fees than a competing physical gallery.
It should be noted, for all relevant purposes, that the fees charged by Nifty Gateway come in addition to the price of the NFT. For an NFT purchased for 3 ETH, for example, the fees would amount to 0.45 ETH. The user would therefore spend a total of 3.45 ETH. Nifty Gateway does not charge fees for crypto withdrawals and deposits. Similarly, there are no fees for transferring NFTs internally. Of course, if transferring an NFT to an external platform, you will have to pay network fees.
Does Nifty Gateway have an app?
As mobile phones, and more precisely smartphones, continue to see their adoption rise sharply, almost everyone uses them nowadays. A company wishing to attract the maximum number of customers or users therefore has every interest in integrating mobile into its business strategies.
Initially, there were fluctuations with the Nifty Gateway NFT mobile version. The Nifty Gateway app seemed to need help with instability and non-compliance with certain legislation. Following the acquisition of the company by Gemini, these flaws have been corrected. Now, Nifty Gateway has its proprietary app available on both Android and iOS. In addition to the basic NFT buying and selling functions, the display feature is a flagship function. Viewing NFTs via the Nifty Gateway mobile app is done in high resolution. Moreover, on mobile, it is easier for creators to manage the exhibition of their NFTs.
Regarding the Nifty Gateway app, reviews are generally positive. On Google Play Store, for example, you can see that the Nifty Gateway app has received a rating of 4.1 for 120 reviews. Despite the presence of some negative reviews, notably mentioning account creation/login difficulties, the general trend proves positive. This positive trend is confirmed in Apple’s App Store. Out of 206 ratings, the Nifty Gateway app gets an average rating of 4.7.
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Is Nifty Gateway a secure platform?
Like all NFT platforms, Nifty Gateway has the responsibility to protect its users as much as possible. To achieve this, Nifty Gateway relies on several security measures. These help strengthen the credibility and reliability of the platform. They also contribute to the fight against money laundering or the financing of illegal activities via crypto and NFT platforms.
Identity verification
When a user creates an account, before being able to make transactions on the platform, they must provide a valid ID. They also take a selfie to confirm that they are the person whose identification document was sent. This KYC procedure is in line with state policies to prevent the use of crypto technologies for questionable activities.
Double account protection
When setting a password associated with their account, the user receives recommendations from Nifty Gateway. The platform guides them in choosing a robust password. At the same time, it encrypts all passwords to prevent them from being stored in plaintext. By doing so, Nifty Gateway reduces the risks of password theft.
Beyond this level of protection, Nifty Gateway systematically checks by email when a user wants to log in, withdraw cryptocurrencies, transfer NFTs, etc. A unique one-time password is sent to them by email. In addition, the platform allows two-factor authentication (2FA) to be activated for each connection.
Security of transactions and other operations on Nifty Gateway
To secure the use of the platform, Nifty Gateway uses the Secure Socket Layer technology on the one hand. This provides an additional layer before executing each action, thus protecting communications and transactions. Specifically concerning transactions, the use of a trusted third party helps secure them.
How to buy NFTs on Nifty Gateway
Are you planning to invest in NFTs? Buying NFTs will probably be the first step you take. On Nifty Gateway, we explain how you can go about it.
Step 1: Signing Up
To get started, create your account on niftygateway.com. You will need to enter your name, first name, email address, etc. Click on the link you receive by email to confirm the account creation.
Step 2: Identity Verification
After creating the account, you must provide a passport, driver’s license or national ID card. After sending the document and indicating your country of residence, you will take a selfie to complete this step. For clarity, before using Nifty Gateway, make sure your country is on the list of accepted countries.
Step 3: Funding the Account
To buy NFTs on Nifty Gateway, you need to deposit ETH into Nifty Gateway. You can send your cryptocurrencies from a third-party wallet like Binance, or connect a wallet to your Nifty Gateway account.
You also have the option of directly linking your Nifty Gateway account to your Gemini account. You will then directly use your balance on Gemini for your nifty purchases.
Step 4: Choosing and Buying the NFT
Browse the NFT catalogue offered by the platform and make your choice from among the collectibles, gaming NFTs, etc. Depending on the type of sale configured for the NFT you choose, the “Bid now” or “Buy now” button will appear. Then confirm the transaction using the code received by email. If your balance on Nifty Gateway is sufficient, the required amount will be deducted, and the purchased NFT will now appear in your wallet. In the case of auctions, you will have to wait until they end to receive, or not receive, the NFT.
Note that you can directly connect a Metamask wallet to the Nifty Gateway platform for your NFT purchases. This possibility somewhat removes the doubts generated by the high centralization of the NFT platform.
Is it possible to buy NFTs without cryptocurrency?
The NFT sector is closely linked to that of cryptocurrencies (learn everything here). Ethereum, via platforms like OpenSea or Rarible, has a near monopoly as the crypto used for NFT trading in particular. But with the expansion and opening of the NFT market, there are more and more other cryptos that can be used to buy NFTs. Better yet, NFT buyers can now use third-party payment methods, such as bank cards.
Like OpenSea, Nifty Gateway is one of the few NFT platforms that accepts buying tokens by bank card. Yes, you can buy collectible, art or gaming NFTs by paying with your bank card on Nifty Gateway. All you have to do is add your bank card as one of your payment methods when setting up your account. If you haven’t done so initially, you can also directly choose the bank card payment option when placing a bid for an NFT.
Which user is the platform best suited for?
When browsing Nifty Gateway to discover the features present, the simplicity of using the platform is striking. The collections are presented in a user-friendly way and access to the NFT marketplace is easy, thanks to a judicious layout of the menu buttons. Additionally, despite an overall centralized operation, Nifty Gateway accepts the direct connection of Metamask to its environment. In addition, the platform accepts several payment methods. And clear indications are given for each action the user must perform.
Considering all these elements, it seems obvious that the Nifty Gateway NFT platform is aimed at beginner users. A person with little technical knowledge of the crypto universe, who simply wants to discover NFTs, will be able to quickly adapt to Nifty Gateway and make their first NFT purchase.
While beginner users would find it easy to use, the same will largely apply to average and expert users. Nifty Gateway therefore ultimately addresses all NFT investor profiles.
Quality of Customer Service
The quality of Nifty Gateway’s customer service is somewhat mixed. The platform has of course set up mechanisms to provide users with any information they may need. However, it seems to have limited itself to the bare minimum. Let’s start by analyzing these mechanisms.
Nifty Gateway Contact Information
Nifty Gateway seems to have fully embraced its logic of anonymity. When trying to find a way to contact the platform, for example, you quickly realize that there is no phone line. Similarly, the platform does not provide an email address through which you could contact its customer service. The only way to contact Nifty Gateway is via the chatbot. On the site, from any page, a “Help” button is located at the bottom left. Just click on this button to start a discussion with an agent or to send an email.
Responsiveness of Nifty Gateway’s Customer Service
There are not any clear-cut reviews on this point. With the help button located on the site, there is unfortunately not always an agent available for you to chat with. The ability to chat with an agent therefore seems somewhat random. If no agents are online to chat with you, you have the option to leave a message, while indicating your email address. You will supposedly get a response within 24-48 hours.
As an effective alternative, if you encounter a problem with your account and would like to get emergency assistance, it is best to post a message on the platform’s Discord channel. The community, or even team members who might be online, could provide you with the required assistance.
Nifty Gateway – Our Final Review
The first point to remember: Nifty Gateway is a platform with a solid reputation in the industry, whose innovative approach has attracted many NFT investors, NFT artists, and the curious. Thanks to the platform’s user-friendliness, any user profile can get started on their NFT adventure. The Nifty Gateway platform offers you the essential features one might expect from an NFT platform. In addition, these features are easily accessible, making the platform enjoyable to use. Whether you are an NFT creator or a crypto investor interested in NFTs, Nifty Gateway remains accessible.
However, apart from these basic strengths, Nifty Gateway has some specificities that could make some hesitate. Among other things, the platform can be criticized for having too vague a level of transparency. In both the selection of creators and the running of auctions on nifties, many of the platform’s rules remain unclear. In addition, NFT transaction fees on Nifty Gateway are well above the market average.
If you decide to invest in NFTs, Nifty Gateway could represent an interesting option to get you started. You are guaranteed in particular to access quality, rare NFTs. In addition, you will be able to easily take advantage of the various functions available. However, keep in mind the weaknesses outlined, namely the high fees and the difficulty in reaching customer service. Above all, invest within your means!
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