What is a verified project?
A “verified” NFT project is one that is not curated by the Nifty Gateway team, but that (i) we have verified to be created by the person or team who claimed to create it, (ii) meets our legal standards, (iii) and meets our basic smart contract standards. As with all NFTs on our platform, we do not provide any opinion on the long term value or investability of an NFT.
Examples of recent verified projects we’ve listed on the site include Bored Ape Yacht Club, World of Women, Pudgy Penguins, Robotos, and 0N1 Force to name a few.
Same benefits - now with more access to great projects across the ecosystem;
Convenience - No gas fees for on-platform transactions, instant on-platform transactions, display your collection on Nifty Gateway, access to features like offers on global traits, no spam NFTs being airdropped into your collection
Payment Optionality - debit card, credit card, Gemini Balance, prepaid ETH - all without the hassle of signing transactions and calculating gas fees
Support - two teams (Collector Services and Support Team) dedicated to helping you along the way, need help - we got you, just submit a ticket!
Let’s talk gas fees
For those of you just joining us - every time a transaction occurs on the ethereum network it incurs a cost, which is referred to as gas. Gas prices can range depending on complexity of the transaction and demand at the time of transaction. If you would like to learn more about gas fees, please refer to this link.
Nifty Gateway is different from other platforms in that transactions on-platform don’t incur gas! Which saves collectors a lot of hassle, and money.
Some listings on Nifty Gateway didn’t originate on Nifty Gateway. We source on-chain liquidity - taking things that are up for sale on other platforms, such as Open Sea, and cross list them on Nifty Gateway so that they can be purchased with one click on our platform. For these listings, you will see a small marking at the bottom showing that the listing was sourced from somewhere else.
Upon initial purchase of a work from a verified project listed on an external platform like OpenSea, the collector pays for the gas fees at an all-inclusive USD price, which also includes a 3.5% Nifty Gateway fee. This gas fee is paid in order to process the transaction of moving the NFT from OpenSea into our Nifty Gateway wallet, and the Nifty Gateway fee helps to cover our other operational costs. These listings can be purchased with any payment method available on our platform.
Nifty Gateway locks in the price you pay at the moment of transaction - so even when gas prices increase due to gas volatility there’s no risk of paying more than the listing price.***
Once that purchase is complete - no gas fees to buy, sell, list, or transfer the NFT within Nifty Gateway.
*Due to gas and ETH price volatility, the actual price you will pay for a listing on an external platform may be slightly higher or lower than the price you would pay on that platform directly.
Why does Nifty Gateway not have gas fees for transactions on the platform?
Nifty Gateway is a custodial platform, which means that NFTs on our platform are stored in the secured Nifty Gateway Omnibus wallet, which is powered by Gemini’s state-of-the-art custody technology. This Omnibus wallet is a master holding account used for the purpose of transferring NFTs into Nifty Gateway and moving them within our platform. The custodial nature of this system allows for movement without having to process a transaction on the blockchain, therefore, gas fees are not needed. Further, this custodial system provides for several benefits including:
- We keep your NFTs secure, so you don’t have to worry about hackers stealing your digital wallet’s private keys and password
- In the instance that you lose access to your account or forget your password, we can help you retrieve it
- Our user interface makes it simple to complete a transaction without having to create and connect a digital wallet to participate or convert your cash into ETH
- Did we mention no gas fees!