Nifty Gateway creates a new, Publisher owned smart contract (which you have full control of) for every drop.
This smart contract is very powerful, up to the highest standards of code quality, and has many breakthrough innovations other smart contracts don’t, such as minting as many NFTs as you want in a single transaction. This smart contract is where the NFTs for your drop will live. It can be paid for and minted with just a credit card, and fully supports decentralized provenance for artists.
Each Drop is Its Own Creator Owned Smart Contract
Each drop minted on Nifty is a unique, creator owned smart contract. Every NFT minted on the ETH smart contract is an ERC-721 NFT. A drop is the same as a collection and each drop will form a new collection on the Nifty Gateway marketplace.
If you are the Publisher publishing the drop, you decide ownership of the smart contract.
You can set the owner address of a smart contract, using OpenZeppelin’s Ownable specification. This can be configured in the drop page (see Drop Configuration). This is the address that will be able to control this collection on other marketplaces such as OpenSea, LooksRare, and X2Y2.
Since each collection is its own unique smart contract, if you ever need to verify that someone owns an NFT from a given collection, you can just check the smart contract!
Cost of Publishing a Drop
Nifty Gateway’s ETH smart contracts are the most optimized, state-of-the-art smart contracts on Ethereum.
The main cost of minting a drop is each new Nifty Type (NFT) you add to your drop (See what a Nifty Type is ). Due to our world leading ETH smart contract optimizations, the minting cost is the same regardless of the number of editions of each NFT.
That means if you mint a single edition of 10, it costs the same as minting a single edition of 10,000, or an edition of 1, or even an edition of 10,000,000. This is because each Nifty Type is minted using a single transaction. All NFTs minted in this way are ETH Mainnet ERC 721 NFTs.
This has implications for different drop types - when you Publish an Open Edition, for example, the entire Open Edition will be minted in a single transaction, for a fixed cost. This makes them very economical to sell on Nifty Gateway.
When you Publish a drop, you will be provided with the fixed cost of creating the contract and nifties. The entire cost is paid up front, before your drop is live.
Some estimates of drop cost are provided below. The exact cost to publish a drop depends on:
- The number of Nifty Types (NFTs) in the drop (see what a Nifty Type is here)
- The length of the drop name (
A Short Drop Namecosts less gas to store on Ethereum compared toA Very Long Drop Name That Costs More Gas To Create A Contract For)- Estimates below assume 63 characters each for drop name and slug
- The length of the drop URL slug (like
ashortdrop) - The current price of gas (read about what Gas on Ethereum is here)
- The current price of ETH to USD
- Estimates below assume $1700 ETH/USD
*This assumes ETH is $1,700
Gas and ETH/USD impact price linearly - in other words, to see estimates of gwei at 320 compared to 160, double the $USD Cost estimate provided for 160 gwei. To see estimates of ETH/USD at $850, halve the $USD Cost estimate.
Deploying Smart Contracts
Smart Contracts are deployed by Nifty Gateway when you Publish a drop. All costs associated with this as paid by you as a Publisher when you Publish your drop.
Setting the Owner Wallet on a Smart Contract
To set the owner wallet of a Smart Contract, which is the wallet that will control the collection on other marketplaces, simply set the “On Chain Owner Wallet” field on the “Enter Drop Information” page.
Signing a Smart Contract for Provenance
Many artists, creators and publishers wish to establish blockchain based provenance for NFTs, certifying permanently and immutably on the blockchain that a given NFT or Smart Contract was created by a given wallet.
Nifty Gateway fully supports decentralized provenance for our Smart Contracts.
To establish decentralized provenance for a Smart Contract, you as the Publisher can set up a Smart Contract to be signed by a wallet, establishing provenance.
To do this, enter the Nifty Gateway Username of the person who will sign on the drop minting page and their wallet that they will use. The wallet there must be connected to their Nifty Gateway account in order to sign it. Once the Smart Contract is signed, a permanent blockchain record is created establishing that that Smart Contract is verified as authentic by the wallet - hence by the artist or Publisher - that signed it.
Once you've set the person signing, and the drop has been published, you can complete the signature by making sure the artist is signed in to their NG account and sending them to the following url: https://niftygateway.com/contracts/sign?id={smart_contract_address}. The {smart_contract_address} field should contain the smart contract address of the collection they are signing.
As an example, if the artist was trying to sign the drop with the smart contract address 0xc46604d308ffeff4d803e834129a98e1af720eb2, you would send them to: https://niftygateway.com/contracts/sign?id=0xc46604d308ffeff4d803e834129a98e1af720eb2
You can locate the Smart Contract Address for a drop by viewing it on the marketplace page or by checking the URL of a drop’s primary market page - for example, this is the URL of an NFT on the primary market, which contains the Contract Address - https://www.niftygateway.com/itemdetail/primary/0x4345978b8dfb376ee1d25f021bc5944098dda0a9/2.