Niftify: The New NFT Marketplace In Crypto Town

Non-fungible tokens (NFTs) have dominated the cryptocurrency market in 2021, contributing over $23 billion in trading volume. This is a sharp rise since the sales volume was hovering around $2.5 billion in the first half of 2021. To accommodate the steady growth of the NFT trading volume, NFT marketplaces are mushrooming throughout the crypto domain. But most of these marketplaces have some flaws in their design and architecture.

To begin with, most NFT marketplaces require some technical knowledge to navigate through the platform. In the absence of an easy user interface, the NFT marketplaces become difficult to access and operate. Additionally, the majority of NFT marketplaces only have the option to purchase NFTs with cryptos. They do not have the necessary features to integrate payment facilities using credit and debit cards. 

As a result of the aforementioned factors, a large section of new users feels alienated to dip their toes into the NFT space. But not anymore. The Niftify NFT marketplace addresses these concerns and enables the seamless onboarding of new and experienced NFT enthusiasts. 

Niftify: A One-Stop Solution For NFT Trading

Before we delve deeper into the features and characteristics of Niftify, let us first explain what the platform is about. 

Niftify is a creator-centric, all-in-one NFT marketplace for the trading of rare and limited-edition collector NFTs. Leveraging the ‘lazy minting’ technique, Niftify NFTs are minted on the Layer-2 Polygon network, thus significantly reducing gas fees. This US-based, regulated, and licensed NFT marketplace boasts of a highly advanced user interface for creating, buying, and selling NFTs. Niftify co-founder, Bruno Ver, has confirmed that people can use their credit and debit cards to transact in Niftify NFTs. 

Niftify uses the EIP-2981 royalty standard for its NFTs, thus ensuring all content creators a fair share of royalties. Through EIP-2981, artists continue to hold their ownership rights, with a resell royalty of up to 25%. To further facilitate the creativity of artists, Niftify allows for a wide range of customization options for artist profiles. These premium accounts help the creators to put their artistic creations to a diverse audience base and maximize their income.

On the other hand, collectors and NFT buyers benefit from Niftify’s easy-to-use NFT swap feature. Thus, if a user wants to swap their NFT with another one, they just need to initiate a swap proposal. Niftify performs the rest of the work depending on whether the counterparties accept or decline the proposal. In exchange, Niftify charges a minor 5% commission fee for each successful NFT transaction (2.5% if paid in Niftify’s in-platform $NIFT token). 

To ensure transparency, Niftify has a 6-tier licensing system that all NFTs need to comply with to be eligible for transactions. Moreover, the Niftify code can analyze market data and prevent instances of overpriced and unfair NFT listings. The protocol algorithm can estimate the NFT prices in separate market cycles and generate a fair price for each NFTs.      

$NIFT Token

The $NIFT token is a utility token that powers the Niftify protocol and has a total supply of 2 million coins. Users get a straight 50% discount when they use $NIFT tokens to pay for their Niftify-based NFT transactions. Additionally, the total number of $NIFT tokens in a user’s wallet determines their access to special platform features. These can include exclusive airdrops, creating premium profiles, access to streams from content creators, gaming facilities, and member-only accessibility to NFT launches. At the time of writing, the $NIFT token is selling at a price of $0.1116. It’s tradeable on BittrexGlobal amongst other exchanges.

Just last week, Niftify announced that staking $NIFT is live on their platform. We already caught a few users staking the tokens at a high APY.