Non-fungible tokens will have a new place to live thanks to the launch of Nifty Gateway 2.0.
Nifty, for those who may not know, is a centralized exchange for non-fungible tokens (NFTs) and based in USD.
The space is backed by the Winklevoss twins’ Gemini exchange’s custody solution.
This is the first USD-based and centralized exchange for NFTs.
“With the Nifty Gateway marketplace, you can put NFTs up sale in USD, and cash out the balance to your bank account when you sell them, with the same user experience you would expect selling something on StockX or eBay,” a post on the matter notes.
As of now, the platform will only allow cashouts in the United States, though support for other countries will be available soon.
Interestingly, and likely to the chagrin of many cryptocurrency enthusiasts, accounts will have a profile picture, bio, link to other accounts, and more for users to “show off” their NFTs.
On top of this, the post notes that Nifty will work with multiple artists to build new, exclusive collections of “nifties” to increase user engagement.
“From the beginning, the mission of Nifty Gateway has been to get 1 billion people collecting NFTs — we strongly believe that this is, by far, the most important step we’ve taken in that direction,” the post ends.