How to Buy New NFT Releases on Nifty

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Contributor, Benzinga
May 14, 2021

Nifty Gateway is releasing new NFT collections each day this week. The platform hosts primary sales of art for big name artists like Grimes, Steve Aoki, DeadMau5 and Justin Roiland.

Unlike other marketplaces for NFTs, Nifty Gateway is the only platform to buy digital collectibles from these artists. Once you buy an NFT on the primary marketplace, you’re able to send it to any NFT marketplace or Ethereum wallet, similarly to sending other cryptocurrencies.

Most non-fungible tokens use Ethereum’s blockchain to verify the authenticity of digital art. Ethereum makes this possible through its ability to operate other cryptocurrencies on its network. ERC-20 tokens are the most common form of Ethereum tokens, but they’re fungible, meaning that each token has the same value. 

ERC-721 tokens are non fungible, meaning each token can have a distinct value, making it possible to tokenize assets like art and music. In the future, ERC-721 tokens have the potential to tokenize real world assets like real estate, copyrights and event tickets.

Tuesday (4/6): Zedd Antipode Collection

Zedd is a Grammy award winning EDM artist and producer who’s set to release his own NFT collection on Nifty Gateway this Tuesday, April 6 at 6:30 p.m. 

Like many other musicians who make NFTs, Zedd is an EDM musician who’s hopped on the crypto collectible bandwagon after other DJs like DeadMau5, Steve Aoki and 3LAU have had success selling their NFT collections.

The artist will be working alongside Fvckrender and Silly Gabe to release video artwork paired with original music for Zedd’s 1st collection. The collection, dubbed Antipode, will feature 6 original pieces, with a 1/1 piece going on auction on April 6. 

To see some of the art being released as part of Zedd’s 1st collection, be sure to check out the artist’s social media.

Wednesday (4/7): Forbes NFT: Merchants of the Metaverse

Forbes, the well-known news publisher, is releasing an NFT version of its latest magazine cover. The cover features the Winklevoss twins, who both are vocal about the potential for cryptocurrencies and blockchain technology. The twins own Gemini Exchange –– the cryptocurrency platform that recently bought Nifty Gateway.

The crypto collectible will go on auction Wednesday, April 7 at 1:30 p.m. The 1/1 collectible will be auctioned off over a 24-hour period, ending on April 8 at 1:30 p.m. 

Forbes notes that 100% of the auction’s proceeds will be donated to the International Women’s Media Foundation and the Committee to Protect Journalists.

Wednesday (4/7): GMUNK: InfraMunk

GMUNK, a digital artist with a significant Twitter following, will be releasing digital art on Nifty Gateway this Thursday, April 7. The collection will feature drawings and silent auctions at 3:30 p.m, and there will be 16 single editions released on the same day at 4 p.m. 

The digital artist has previously released art on Superrare, a platform that acts like a social media platform for NFTs. The platform only allows for original 1/1 pieces, so it’s not ideal for artists looking to release full NFT collections. 

To see more sneak peaks from GMUNK’s latest collection, check out his Twitter.

Thursday (4/8): Wolfgang Gartner

Wolfgang Gartner is yet another EDM artist and music producer who is set to release his own NFT collection this Thursday, April 8 at 6:30 p.m. The musician has paired up with digital artist VoodooBownz to make a crypto collectible with original music and digital artwork.

The artists have been relatively quiet on their social media, and the specific pieces in the collection remain a mystery. Be sure to check out Nifty Gateway’s website on April 8 to view a full preview of Wolfgang Gartner’s latest collection.

Sunday (4/11): Flume NFTs 

With almost a half million followers on Twitter, Flume is the most popular celebrity releasing a collection on Nifty Gateway this week. Flume is an EDM artist who has released several NFTs in the past, albeit not on Nifty Gateway. 

Although Flume has shown off his past collections on his Twitter, his latest collection has yet to be teased. The musician is working alongside Jonathan Zawada to pair his music with digital art. 

Flume has worked with Zawada to release NFTs prior to this release, so you can get an idea of the type of art going up for sale this Thursday by viewing the duo's previous collections here. 

To view the full collection being released on Nifty Gateway this Sunday, you’ll need to view the collection under the “drops” tab on Nifty’s website the day of the release.

How to Buy New NFT Releases on Nifty

  1. Make a Nifty account. 

    Making a Nifty account is a quick and easy process. All you need to do is enter an email and a password to create an account. Once you’ve made your account, you need to add a funding method and become a verified account.

    You’re only allowed to participate in popular NFT releases if you have a verified account. To verify your account, all you need to do is enter your phone number and verify a code through text. 

    Before making your purchase, you’ll need to fund your Nifty Gateway account. Nifty has 2 funding options on its website: credit card payments and prepaid Ethereum.

    If you want to purchase NFTs with Ethereum, you’ll need to send Eth tokens to your Nifty wallet address. If you don’t already own Ethereum, you can purchase it on popular crypto exchanges like Coinbase, eToro and Gemini.

  2. Buy a wallet (optional).

    Just like owning cryptocurrency, it’s not recommended to store your NFTs on an exchange, especially if you plan on holding your collectibles over the long term. Storing any crypto asset on an exchange leaves your assets at risk for being stolen by online hackers. To mitigate this risk, you should store your crypto on a hardware or software wallet.

    Since NFTs are commonly ERC-721 tokens, you can store them in an Ethereum wallet. Ethereum wallets are most commonly hardware or software wallets. While hardware wallets are physical devices that store your crypto offline, software wallets are computer programs that store crypto.

    Software wallets are a secure way to store NFTs, but hardware wallets are the most secure storage solution, as hardware wallets can’t be accessed by online hackers.

  3. Buy a piece from the collection.

    Buying an NFT from a popular collection is easier said than done. Hyped releases often cause Nifty Gateway’s website to crash, and bots can be made to scalp NFTs for profit. To have the best chance possible, you should keep multiple tabs open on your browser and be ready to make your purchase the minute the NFT releases.

    However, this isn’t the case for open edition releases. Open editions are NFTs that are minted for a specified period of time, usually 5 to 10 minutes.

    Once the time period is over, no more editions will ever be made. Since anyone who purchases open editions in a timely manner will be able to get one, these NFTs don’t typically resell for as much as limited edition pieces. 

Best Crypto Wallets

Here are the best software and hardware wallets to store NFTs.

Ledger Hardware Wallet
Best For
  • ERC-20 tokens
securely through Ledger Hardware Wallet's website

Best Hardware Wallet: Ledger Nano S

Ledger has been making cryptocurrency hardware wallets since 2014. Investors who buy a variety of altcoins and NFTs use Ledger for its wide range of support for crypto assets and its industry leading security.

Both the Ledger Nano S and Ledger Nano X allow you to download support for lesser known crypto assets, making it capable of supporting over 1,000 different cryptocurrencies. 

Best Software Wallet: MetaMask

MetaMask is a Google Chrome extension that lets you interact with websites that use cryptocurrency for transactions. The software wallet is connected to your browser, making it easy to pair with any website that supports the wallet.

You can get MetaMask on the Google Chrome store. Once it’s added as an extension, you can access it by clicking the icon to the right of your search bar. 

Current Crypto Prices

NFTs have been gaining traction alongside the cryptocurrency bull market. Many large market cap cryptocurrencies have risen over 100% in value this year alone, with many of these assets appreciating over 500% in the past 12 months.

Generally, you can get an idea of market sentiment by watching the large market cap cryptocurrencies like Bitcoin and Ethereum.

How Can I See What’s For Sale?

There’s no good way to see what’s for sale well before the release. Most NFT release details are kept secret until the day of the release, but you may be able to find out more information by following the artist’s social media.

Nifty Gateway releases the collection’s details the day of the release, so you can see the prices and number of prints for each piece then. 

Frequently Asked Questions

Q
Q. How can I gauge the Demand for an NFT?
A

You can gauge the demand of an NFT by the artist’s following on social media accounts, namely Instagram and Twitter. Since these are the main avenues that artists use to promote their digital artwork, most of the demand for the collections are generated through social media.

Q
Q. What give NFTs value?
A

NFTs are valuable for the media that’s attached to them. Non-fungible tokens are valued more similarly to art than cryptocurrency; the artist’s influence and accreditation makes their NFTs valuable, not the token itself.

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