Let me just explain what NFT is. It’s a marketplace that can be accessed by a computer. People here offer their nifty (goods and services) and put them on the bid and selling them to the highest bidder.

In simple words, it’s a digital way of people buying and selling their possessions. How is it different from usual online hubs? Well, Users here use different ways of payment.

They have a unique set of tokens used for paying which are taken care of cryptographically for their authentication. If you go through the NFT gateway you’ll see the digital art and music industry as dominant nifty on the gateway.

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Founders of Nifty Gateway

The prime developers of Nifty Gateway are two impartially twin brothers i.e. Cock Foster Brothers. However, after the fifth month of developing Nifty Gateway, they sold it out to Gemini owned by another set of twins known as Cameron and Tyler Winklevoss. Gemini is a crypto currencyexchange making them cofounder of Nifty Gateway.

The nifty gateway was set up in 2018 and sold in 2019. This well-known pair of twin brothers are making their way into blockchain technology.

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AIM OF NIFTY GATEWAY

According to the founders of NFT gateway, the objective of building the NFT platform is to make nifties approachable to every single being. They have this aim to promote the concept of nifties among one billion people. The gateway is planning on doing that by corroborating with well-known individuals, brands to organize a highly exclusive collection of nifty.

They offer a new “drop” (this is what they call their new collection) after three weeks and that drop will be available for a particular time.

1. What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens?

ERC:

Before I explain to you what ERC-1155 tokens are let me abbreviate it first. ERC symbolizes Ethereum's request for comment. Now, what is Ethereum? Ethereum is a technology helping to build a digitalized finance. A vast majority of tokens present are built by ethereum. Ethereum is a well-known name in the crypto world

ERC-1155TOKENS

ERC-1155 tokens are tokens built on Etherum in 2018. ERC-1155 tokens are standard tokens that are special tokens that support all non-fungible (non-exchangeable) and fungible (exchangeable) tokens. As addressed by its developer i.e. Enjin ERC-1155 is “the next generation multi-token standard.”

ERC-1155 is said to be the finest in contrast to previous editions of tokens especially in terms of fungibility and gas contracts. The ERC-1155 program is guarded by a programmer whose aim is to make these tokens free from the flaws previous tokens had.

COMPARTING ERC-721 TOKENS AND ERC-1155 TOKENS :

Unlike ERC-721 tokens, the well-reputed traceable tokens, ERC-1155 tokens avails the user a smart contract to depict more than one token at a time. The ERC-721 would have made users send every token individually however ERC-1155 has made multiple transfers easy. It is preferred as it saves users the money they had to spare in different transactions.

COMPARING ERC-20 AND ERC-1155:

Imagine sending your transaction to the wrong address mistakenly? The ERC-20 wouldn’t’ have facilitated you with the tracing feature. If the address doesn’t exist the user can lose a coin forever. This feature of ERC-20 has made this coin a “NO GO” place. However, the new ERC-1155 tokens ensure the transaction first if there’s an issue it reverts the tokens to sender's account.

DIFFERENCE BETWEEN ERC-1155 TOKENS AND ERC-20 & ERC-721 TOKENS:

With the limitations faced in ERC-721 and ERC-20 tokens, ERC-1155 has been among the most preferred tokens. On the other hand, where ERC-20 supports non-fungible tokens and ERC-721 supporting fungible tokens the ERC-1155 tokens support both NFT and fungible tokens.

3.Login to Etherscan. Please indicate the number of ERC-1155 tokens in existence at the time of writing your assignment. Indicate the first 5 tokens by volume of transactions in the last 24 hours. Indicate the Hash of the last transaction carried out and the identification of the token as well as its smart contract. Show Screenshots.

Here’s the home page of Etherscan, we can find several tokens by pressing the tokens option as shown in the picture above. As per the requirement, I’ll click on ERC-1155 to get the desired data.

Here in the screenshot above, we can see the total number of ERC-1155 tokens existing while performing the task is 18,536.

In the same screenshot we can see the top 10 transactions by volume of transaction in the last 24 hours however as per the requirement we’ll be focusing only on the first five transactions in the last 24 hours.

• OpenSea Shared Storefront (OPENSTORE) $ 22,488

• 0x54f456b544abfb785694400bcb1d85629b2d437f $ 10,321

• PAGE 7,594

• 0x7a44228e46cdd37a85c0b07c4043b86c11e8c315 $ 3,234

• Zapper NFT V2 $ 1592

Moving forward to the last requirement i.e. indicating the Hash of the last transaction carried out and the identification of the token as well as its smart contract. For this we’ll again press the tokens button on the top menu and will press the last option i.e. VIEW ECR-1155 TRANSFERS.

The data of top ERC-1155 transactions can be found on the webpage. We can see according to the current time the last transaction was made 29 secs ago by a hash of the id mentioned above.

Here in the last screenshot, all the transaction-related details are mentioned i.e. contract details, token ID, identification number, etc.

1. Enter the Enjin wallet. Describe the functions that it presents in its user interface. Enter the Marketplace: indicate the number of items for sale, indicate the first 3 items on the list and their description. ShowScreenshots.

Here’s the screenshot of my already logged-in Enjin account. The first page depicts three sections:

1. The first section has three-lined symbols which lead to further functions.

2. The second section shows the available assets in BTC value.

3. The third section shows the crypto total a user possesses.

Apart from that, we can see four buttons present on the front page.

1. Main Wallet 2. User symbol 3. + symbol 4. Three dots (symbol)

1.Main Wallet:

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The main wallet lets an owner create second or more wallets.

2.User Symbol (Add Account):

It enables you to register or save often used accounts.

3.+ (symbol):

This updated coin list feature helps you to add or remove coins you want or don’t want to use.

4.Three dots symbol:

The last three-dotted symbol has allows the features as shown in the screenshot i.e. backup wallet, manage wallets, etc.

From this corner, we can reach the marketplace.

After reaching the market place we can see the total number of items on sale currently which is 17,475. Below that we can see the top four items on the marketplace however according to requirement we’re only discussing three.

1. Founders Token

2.     Infowars Telegram
   

3. Golden Evanbrook Egg

Here we can see the product description of the first item.

Here’s the description of the second product

5.)In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer.

On a personal level, I see NFT markets are going to do nothing but escalate in the future. I believe they’ll be widely used in the future based on the current situation.

REASON:

1. If we look in the past we’ll see how crypto wasn’t supported initially but now we can say how it has grown immense importance worldwide clearly giving us an idea about the NFT market's future.

2. We can see the interest of well-known artists taking their keen interest in the NFT market. With the growth in their fame, they want their art to be treasured on an individual level.

3. Last but not least reason for my belief in the successful future of the NFT market is the invention of ECR-1155 tokens saving users from a lot of hard they had to do with previous tokens.

Regard
@attiyaasghar