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How Does Nifty Gateway Make Money?

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Nifty Gateway is one of the worlds largest and most famous NFT Platforms along with OpenSea and Rarible. Nifty Gateway is premiere NFT marketplace where you can find a rich suite of highly valuable NFT collectibles, Artwork and Assets on the platform. Nifty Gateway is very unique in a way because it regularly teams up with top artists and brands to create exclusive highly valuable NFT collectibles. It is also a centralized platform where they actually use USD for buying and selling NFTs.

Nifty Gateway makes its money or revenue through royalties on a percentage of each sale made and also on secondary sales. Along with that, they also charge 30 cents to cover transaction fees. The fee is 5% of the sale price, while the artist or the original creator of the NFT takes 10%. The company’s revenue has also soared very high in the recent months in the beginning of 2021, and today Nifty Gateway is valued between $774 million to $1.2 billion.

Nifty Gateway and NFT Explained

Nifty Gateway is an NFT marketplace or an NFT platform where users can buy and sell NFT Artworks and Collectibles. A NFT is also called Non-Fungible-Tokens is a digital token whose data is recorded on the blockchain. They are very similar to any other Crypto-Currency Token and they can include anything from an artwork, trading cards, digital collectibles, music, videos or any form of Digital Asset.

You can think of NFT’s as virtual collectible trading cards, whose information is stored in the blockchain network.

Nifty Gateway is owned by a parent company called Gemini LLC, which is a cryptocurrency exchange website founded by the Winklevoss brothers.

Nifty Gateway and the Gemini crypto exchange work together as sellers and artists can directly cash out their earnings from the Gemini exchange.

If you don’t know who the Winklevoss twins were, they were the guys who first had a lawsuit against Mark Zuckerberg over his claim to ownership of Facebook. After which, they started their investment portfolio and bought Bitcoin in 2013 and founded Gemini LLC, the following year.

Non-fungible-tokens are one of the greatest creations of technology today because it has literally changed the art industry. The reason is because as we know, the world was facing a huge issue of copyrights, and it was impossible for any creator or artists to completely protect their work. With Non-Fungible Tokens or NFT’s, the issue of copyright somewhat seems solved and this is the reason why we are selling artists like Beeple being able to sell their artwork for over $69 millon dollars.

Along with Beeple, there have been many aritsts who were able to sell their artwork as an NFT for a lot of money.

The fact that any form of digital asset can be turned into an NFT. This means, even memes have the potential to be turned into an NFT and sold on various NFT platforms. Just recently, many meme stars have sold their meme on various NFT platforms. The most famous ones are the Nyan Cat which sold for over $560,000 dollars USD. While, many other famous memes of 2000’s like the Disaster Girl Meme sold for $500,000 dollars.

Nifty Gateway Sales Surpass $300M in Gross Merchandise Value

Nifty Gateway was launched in March 2020 with a motto: we believe NFTs are the future, and we will not rest until 1 billion people are collecting NFTs. Over the course of many months, the NFT platform has grown to become one of the most popular NFT trading market. Getting praises and appreciations from even the biggest companies in the art industry like Christie’s and Sotheby’s.

In April, they collaborated with Sotheby’s to host thier first NFT drop with the artists
PAK which brought in $17 Million in sales. In just under a year, the platform grew to generating $22 Million dollars of sales with 100 exclusive artists.

In December, alone, Beeple auctioned off 20 works that where worth more than $3.5 Million dollars on Nifty Gateway. The Complete MF Collection (2020), was sold for $777,777 on Nifty Gateway.

It was during the month of November and December 2020, when Beeple started dropping his NFT’s on different NFT platforms. Nifty Gateway saw a 550% spike in sales during those months and the figure kept growing even higher in Jan, Feb and March. It was also during this them, the price of Bitcoin was also surpassing new heights.

Nifty Gateway Exclusive Artists

Nifty Gateway prides itself for the fact that they regularly collaborate with top artists in the industry to drop exclusive NFT artworks and collectibles. Popular artists like Deadmau5, Carl Cox, Lil Yachty, Beeple, and many others have dropped their art and music on the platform.

They also have collaborations with sports organisations like OG Esports and the famous NBA Topshot.

This is what make Nifty Gateway different from the rest of the NFT marketplaces. Yes, there are platforms like Christie’s and SuperRare but these platforms charge a lot of fees to their sellers. SuperRare charges upto 15% but for Nifty Gateway, it’s only 5% fee on sales and all the secondary sales.

Regular collaborations with some of the biggest artists in the industry just means, better valued NFT artworks and collectibles. Because of this, the platform holds a good reputation in terms of the quality of collectibles and artworks.

While in NFT platforms like Rarible, the platform is pretty saturated and filled with every kind of artists and creators.

Biggest sales on Nifty Gateway

Beeple holds the throne of being one of the most highly valued NFT artist in the platform. He has sold NFT’s on Nifty Gateway which all were worth over $3.5 Million dollars with Beeple’s The Complete MF Collection (2020) that sold for $777,777 Dollars USD.

Another Iconic sale on Nifty Gateway is Hairy by Steve Aoki, that sold for $888,888.88 dollars. It was definitley a record breaking sale during the month of March. Hairy is a short clip of Aoki’s Music blended with a cool animation that represents Steve Aoki’s style of music.

Not Forgotten, But Gone by WhIsBe, is another iconic NFT that was sold on Nifty Gateway for a whooping $1 million. It is a 16-sec clip of a spinning gold skeleton gummy bear, a one of a kind collectible and extremely rare gummy bear from the artist WhIsBe who is famous for creating Gummy Bear Based NFT collectibles.

Another one is Auction Winner Picks Name by SSX3LAU, that was also sold on Nifty Gateway for a staggering amount of $1.33 million dollars. This was one of the most unique and creatively executed NFT that allowed the buyer to pick the name of the song that played in the NFT. The NFT was bascially a music video.

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