Duncan and Griffin Cock Foster who initially founded the Nifty gateway to buy NFTs with a credit card, instead of using cryptocurrency, was later acquired by bitcoin billionaires Cameron and Tyler Winklevoss.
On Nifty Gateway, artists put the number of editions for a single artwork by deciding how many accompanying tokens will be made available. By connecting artists directly to collectors, NFTs cut out galleries and other traditional door keepers. Digital art has brought in millions for founders and sellers
2020 has proved to be an explosive year for Nifty with all their blockbuster sales.
Here are a few highlights from 2020
- $4.2 million+ (largest single drop, by artist Beeple)
- $11 million+ (total value of nifties sold between March and December 2020)
- $1.4 million+ (value of a collaboration drop between artists Pak and Trevor Jones)
- $777,777 (largest single nifty sale, by artist Beeple, which is a world record)
- $370,000 (made by 18-year old artist FEWOCiOUS on a single drop on his 18th birthday)
NFTs provide a platform to sell digital art and collectibles also providing ownership to digital images and animations. The art market is now directly accessible to the audience without any intermediary.
Nifty gateway might have just hit its $1 billion goals along with the rise in the exploding NFT market. NFTs have offered a new outlet for art enthusiasts.
According to a crypto data market Messari, its worth is somewhere around $774 million to $1.2 billion. Next up in this race is Open Sea, whose estimate is between $321 and $498 million.
Twitter co-founder and CEO Jack Dorsey auctions his first tweet as NFT and the highest bid rests at $2.5 million. The auction which is set to end on March 21st has made headlines and now the CEO plans to donate the proceeds to charity.