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Nifty’s September Product Update

This post was originally published on Nifty's

It’s been a busy few months at Nifty’s since the launch of our Space Jam: A New Legacy NFT collection. We’ve been heads-down focused on creating memorable, digital experiences for you, the Nifty’s community. We’ve shored up our infrastructure and lined up more top artists and brands. We’ve got a lot of new projects coming your way soon, but first, let’s take a look at what we’ve accomplished to date.

Where We’ve Been

On July 12, the Space Jam: A New Legacy NFT collection sold out all 91,980 NFTs in 15 hours to enthusiastic fans around the world.

On top of that, it’s believed that the Space Jam: A New Legacy Tune Squad NFT became the most widely distributed NFT ever when it was distributed to 115,430 people in over 165 countries less than three weeks later.

Nifty’s Marketplace opened in July, enabling collectors to buy or sell NFTs on the platform from two groundbreaking NFT projects: Space Jam: A New Legacy and Damien Hirst’s The Currency. Both collections allowed fans to experience what they love in a new way: one was the first of its kind partnership with a blockbuster movie franchise, the other a groundbreaking collection fusing the art world with the digital marketplace. And that was just month 2.

Common Canvas

Additionally, we recently announced our newest project, Common Canvas. Common Canvas is a new kind of collaborative project bringing together multidisciplinary artists to collaborate on limited-edition NFT collections. Each Common Canvas drop is led by a creator who selects a handful of collaborators to each create a distinct NFT for the collection — each built around a common theme. The first Common Canvas collection is curated by Kevin “Spanky” Long, a professional skateboarder and visual artist from Los Angeles CA. The theme for this first collection is — you guessed it — skateboards. Go inside the collection and Spanky’s creative process in our new series — Behind the Canvas.

Where We’re Going

We’ve got a bold vision for the rest of the year. Nifty’s is a place where anyone can have fun collecting, sharing and engaging with NFTs, and our forthcoming collabs expand the possibilities of NFTs for even more fans.

Space Jam: Goon Squad

Last week we announced a follow-up to the initial Space Jam: A New Legacy NFT drop. To celebrate the digital release of the movie, we’re issuing new, limited-edition Space Jam: A New Legacy NFTs. This time, featuring the Goon Squad.

Stay tuned for more event announcements.

Platform Updates

Aside from the events and big name drops, we’re putting a lot of resources into beefing up the platform, both on the infrastructure and feature side. We know our launch in June was rocky for our community and we’re dedicated to making the Nifty’s experience seamless moving forward.

As our product evolves, our goals remain top of mind:

  • Keep it fun and easy to use
  • Build Innovative distribution channels
  • Think community-first
  • Partner with world-class brands and artists

UX Improvements

You asked, we listened. We felt it was imperative to prioritize the most requested fix on the Nifty’s site: wallet updates. We hear you and we promise we have more to share on this really soon. Additionally, we’ll be updating our Marketplace to make it easier to buy and sell on the secondary markets.

If you have additional feedback on your Nifty’s experience, feel free to join our Discord and leave your thoughts in the Feature Suggestions channel.

Bridge to Ethereum

The next most frequently requested feature is for a user to be able to move their NFT off platform. Some users would like to move their NFT to Ethereum since their markets are more robust.

The Nifty’s platform is unique in that we’re building on top of the Palm ecosystem, a sidechain to Ethereum. We’re doing this for several reasons:

  1. It’s energy efficient. The Palm ecosystem is over 99% more energy efficient than mainnet Ethereum.
  2. Transactions are virtually free. Because it’s a side-chain, users within the Palm ecosystem will benefit from super low gas fees.

For now, Palm doesn’t yet allow for the movement of our Space Jam NFTs across the bridge to Ethereum. When Palm supports ERC-1155s moving across the bridge, we’ll support it.

It’s a top priority for us. As soon as we have an ETA, we’ll communicate it. In the meantime, we are working on making transacting more seamless on Nifty’s with different payment solutions.

Focus

For the remainder of the year, we are tightening the scope of our product strategy. That means we are temporarily removing Ethereum NFTs from Nifty’s marketplace and wallets, and temporarily removing the playlist feature. We’re doing this to ensure we’re providing a premium user experience, work out any pain points and make our core product as strong as possible.

Furthermore, we are doubling down on the Palm network for its ease of use and energy efficiency. This will allow us to deliver exciting, innovative drops while thinking strategically about the future of NFTs and our planet.

With all of these updates and changes, our vision remains the same: to create a space where everyone is welcome and excited to participate in this NFT experience.

Stay tuned. We’ve got a lot more to announce in the coming weeks!

Sign up for Nifty’s and follow Nifty’s on Twitter & Instagram to stay up to date on future releases and creator partnerships


Nifty’s September Product Update was originally published in Nifty’s on Medium, where people are continuing the conversation by highlighting and responding to this story.

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