Gemini’s Nifty Gateway to Permanently Host Metadata and Media for Select NFTs

Gemini’s Nifty Gateway will migrate most user NFTs to Arweave for permanent storage, with older assets staying on company servers until the April 23 withdrawal deadline.

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Summary

Gemini-owned Nifty Gateway has outlined new preservation measures for user NFTs following its shutdown announcement. Most NFTs will be transferred to Arweave to ensure permanent hosting of token metadata and media, while those minted in or before 2021 will remain on Nifty Gateway’s servers. The withdrawal deadline is set for April 23, and the platform is developing a bulk extraction tool to facilitate mass transfers for users.

Terms & Concepts
  • NFT: Non-fungible token; a unique digital asset verified on a blockchain, often used for art, collectibles, and gaming items.
  • Arweave: A decentralized storage network designed to provide permanent data hosting via blockchain-based technology.
  • Metadata: Descriptive information attached to a digital asset, such as title, creator details, and creation date, used for identification and management.