NiftyKit Review

NiftyKit.com is run by NiftyKit, Inc., registered in Delaware, USA. NiftyKit enables users to create, manage and sell their non-fungible tokens (NFTs). The platform caters to artists, musicians, influencers, marketers, gamers, and brands. Users can sign up or access the platform via email sign up and login, Google or Twitter profiles. 

NiftyKit doesn’t require creators or collectors to possess crypto assets to get started. However, whenever a user needs to sell NFTs on other platforms or transfer them to an external wallet, they will be required to pay the network gas fees. These fees can be for listing, trading, or selling on secondary marketplaces such as Rarible and Opensea. The advantage to using NiftyKit is that unlike on other marketplaces where users are required to have crypto in order to participate and mint their first NFT, on NiftyKit users can pay a subscription to access their unique NFT minting platform where you they can then customize and manage their smart contracts and NFTs.

How NiftyKit works

Buyers of NFTs listed in ETH or Polygon (MATIC) on the NiftyKit platform need digital currency to make purchases. Users can connect to NiftyKit using MetaMask wallet to purchase, make offers, and transact on the platform. Currently NiftyKit allows users to choose whether they want to mint their NFT onto the Ethereum Mainnet blockchain or onto Polygon which is an Ethereum compatible layer 2 blockchain. 

File formats supported on NiftyKit

NiftyKit offers unlimited file sizes for different formats including PNGs, JPGs, SVG, GIF for images, MP4 for video, they also plan to include audio, 3D & AR.

How to upload content on NiftyKit

NiftyKit enables users to use fiat currency or crypto to upload digital content to Interplanetary File System (IPFS) and also mint ERC-721 NFTs. The NFTs contain a reference to where a user’s digital content resides on IPFS. Along with the user’s non-custodial wallet, a record of ownership of the uploaded content is stored on the blockchain. 

NiftyKit’s service makes it possible for users to own their own smart contract. This means the user can control the future actions of their digital content and the associated NFT such as royalties, resale, or burning and the user can also access their digital content without NiftyKit’s third-party involvement. The platform enables the owner of a smart contract  or a collection owner to invite others to mint into their smart contract or collection. Payments can also be made to multiple wallets if those payments are associated with the collection. What’s great about NiftyKit’s offering is that it gives users control of their brands. 

Fees

Users of NiftyKit don’t have to worry about gas fees. The service provided by NiftyKit covers the gas costs that are generally associated with minting or listing an NFT. However, users need to be aware that gas fees that are associated with purchasing NFTs are not included in the service. NiftyKit recommends users to mint before they plan to sell. With NiftyKit, a user can set their own fees and rules on their smart contract and they can also invite others to mint into their collections. 

Depending on the subscription, when a user purchases their collection they will be then able to purchase credits to upload content and mint NFTs into their collection. Some subscriptions will include minting however, NiftyKit can always change their subscription packages anytime. Users have the ability to set the percentage of each sale that they keep and the percentage that others who have minted into their collection will receive on primary sales made on the platform. If users choose to sell their NFTs on other marketplaces such as Rarible or Open Sea, they need to understand that NiftyKit does not control who is paid and how much they are paid. It’s also important for users to know that NiftyKit doesn’t actually maintain or store users’ content or NFTs.

Image credits: https://niftykit.com/

Originally posted on Decentralised Africa

https://decentralised.africa/niftykit-review/