INTRODUCTION
The nifty gateway is a unique NFT platform and has taken the blockchain globe by rush. We know blockchain is secured and decentralized making it impossible to be compromised.
In few more words, it is a platform that puts together crypto-technology and collectible artwork to design a rich suite asset that is tradable and high in value, initiating a universe of new investment potentials.
NIFTY GATEWAY
It is a platform where buying and selling of non-fungible tokens (NFT) take place. In our previous class, the professor has already explained what NFT is which ill just do a little recap on it.
NFT is said to be like a cryptocurrency, it's a digital token registered on a ledger known as a blockchain. NFT can be all manner of assets particularly art, music, games, video, etc. Again they are not interchangeable.
WHO ARE ITS FOUNDERS
The nifty gateway is a cryptocurrency exchange website held by a company known as the GEMINI LLC, the founders are twin brothers known as WINKLEVOSS BROTHERS this company is based in New York, again no predictable IPO and thus no stocks or share price.
Lately, the NFT sales volume has gone like a shot, and as a result of this company has made sales ranging at about $1.2billions, and $77.4billion.
NIFTY GATEWAY HISTORY
The gateway was established around 2018, in match 2021 the platform. Latter the platform was hacked because they did not have 2-factor authentication. It was reported that thousands of dollars worth of nifties was stolen.
It was believed the hack was a result of cracking or otherwise obtaining their passwords. Nevertheless, since it has been owned by the twin brothers known as WINKLEVOSS BROTHERS they were able to launch version 2.0 with a unique feature containing services that record google and facebook’s API.
Also, adding the 2-factor authentication increased the protection.
THE MARKET TARGET
The market target is intended for trading ie buying and selling NFT. The more solid your collection is the more it will have worth in the market.
In other words, it is a unique marketplace embarrassed just for artwork and music which has been curated by the nifty team. Popular DJs, musicians have had drops in sales attaining into the thousands of dollars.
Again superstars have embrace it and now have collaboration with sports organizations such as Esports.
WHAT IS THE FUTURE OF THE NFT MARKET IN MY OPINION
I will start by saying that digital trading is universal now, mining cryptocurrencies every day. And immutability of blockchain and save wallet are being built and released.
Hence the new movement that has caught the interest of investors is the nft market as it is set aside for the selling of artwork.
Previously investors don't have an interest in artworks, video, games, and music etc. but the nft and its marketplace and its execution on the blockchain have made artwork popular and millions of dollars have been made from it.
In conclusion, the nft market brings a lot of involvement and potential. However, it is crucial to emphasize the nft market is still in the early stage of its evolution.
I focus on Blur Only. Unable to manage multiple accounts. The information is interesting.
Apart from Blurt, where else do you have an account?