Jan 21, 2021
The Explosive Rise of Nifty Gateway and Digital Art
2020 was a blockbuster year for Nifty Gateway. We helped artists and creators sell more than $12 million of their digital art and collectibles since we launched 9 months ago in March 2020. While blockchain, crypto, and DeFi continue to have a dramatic impact on the financial services industry, non-fungible tokens or NFTs ("nifties") have begun to energize and reimagine what is possible in the world of art. We believe nifties are the future, and we will not rest until 1 billion people are collecting nifties.
Bolstered by high-profile drops from artists like Beeple and Trevor Jones, who each made millions of dollars in total sales last year, Nifty Gateway has sustained 50% month-over-month growth since March, and we are thrilled and encouraged by the booming interest and engagement from the community.
Nifty Gateway works with artists and brands to create limited nifty collections that are exclusively available on our platform, which leverages Gemini’s industry-leading security. Each collection is dropped at a specific date and time, and is available for purchase during a limited period. You can display nifties you purchase on your profile, withdraw them to an external wallet, or deposit nifties from an external wallet into your Nifty Gateway account.
As Nifty Gateway enters its first full year, here are some of our 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)
We founded Nifty Gateway in 2018 with the belief that crypto networks and the blockchain have the power to fundamentally change the art world by creating greater choice, independence, and opportunity for artists, creators, and collectors. Prior to the development of nifties, digital art was not scarce. It had no beginning and end. It was effortlessly reproducible and therefore, in many ways valueless. Through the creation of unique, identifiable, and secure digital art on the Ethereum blockchain, nifties have given provenance to digital art — and in doing so, given it value.
Nifty Gateway’s growth, and the notable success of artists and creators using the platform to sell digital art and collectibles, is another testament to blockchain’s power to change the world and empower individuals through crypto. Join us as we continue to bring new and exciting artists and collections to the platform in 2021!
Onward and Upward!
Duncan and Griffin Cock Foster
Nifty Gateway Co-Founders