Nifty Becomes First Ever US Dollar based Non-Fungible Token Exchange

Nifty, a US dollar-based trading platform for non-fungible tokens, or NFTs (which are unique digital tokens that are not interchangeable with other similar tokens), revealed that it had completed its “Nifty Gateway 2.0” update on March 17, 2020.

The Nifty platform had been acquired by the Cameron and Tyler Winklevoss-owned crypto company Gemini in November of last year. According to its developers, Nifty is the first US dollar-based centralized trading platform created specifically for NFTs.

The Nifty exchange allows US-based traders to make withdrawals in fiat currency, and also plans to enable fiat withdrawals for international customers as soon as possible. International users are currently able to use all other services offered by the Nifty exchange.

Although traders can list NFTs on the Nifty marketplace, the exchange’s developers note that the process will be slow because each new potential listing will be carefully reviewed.

The development team stated:

“You may also deposit NFTs from other projects and put them up for sale on the marketplace — however, for the time being, we will be slow and intentional about which NFT projects we support, so that we can handle the volume, and deal with any fraud issues that may arise.”

Traders may register on the Nifty platform and start trading NFTs by simply providing an email address.

Nifty’s management said they will create and issue exclusive tokenized collectibles, which will be offered via strategic partnerships with celebrities during the next few months.

The company also revealed that it will introduce new NFTs every three weeks. The first collectible that will be released has been developed by photographer Lyle Owerko and mixed martial arts specialist Cris Cyborg.

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