Nifty Gateway

Question 1

Define Nifty Gateway platform in depth Who are its founders? Which market or target is it aimed at?

Nifty Gateway is a digital art marketplace where people can buy, sell and trade their art NFTs which in the marketplace, it is known as Nifties. This marketplace is built on the Ethereum blockchain.
The ideal goal of the Nifty Gateway is to make art easily accessible to everyone and to also let everyone be exclusive owners of their art creation where no one can take their creation from them.

Nifty Gateway is a project which was birthed by Duncan and Graffin Foster back in the year 2018, but the project is currently owned by a cryptocurrency company known as Gemini LLC which was founded by twin brothers , the Winklevoss brothers, Cameron and Tyler.

Nifty Gateway makes room of her users to use a two factor authentication to protect their wallets. Few months ago, it was reported that so many users of Nifty Gateway lost assets worth thousands of dollars because they did not use the two factor authentication to protect their wallet.
Nifty Gateway marketplace has helped a lot of artist and musicians to digitally sell their creations. The likes of Carl Cox, Lil Yachty, Granmatik and several other musicians have had drops in the Nifty Gateway market place which has been sold for thousands of dollars.

Nifty allows everyone to buy and sell in the platform irrespective if the person has knowledge about crypto or not. This is to say that on Nifty Gateway, there is an option which allows users to buy Nifties using their credit card even though it is restricted to some countries. And there is an option which allows users to connect their Ethereum wallet, which could be Metamask, and purchase the Nifties they want using Ethereum.

Sellers can sell their Nifties and make some good amount of money. Buyers can as well make so much money when they re-sell the Nifties they purchased. This makes the platform a win-win for both buyers and sellers. Therefore Nifty Gateway is a great investment platform.

There are several selling point which makes Nifty Gateway different from other NFT market place. Some of these selling points include the Nifty Aesthetics and Exclusivity. This means that aims at ensuring that every NFT uploaded in the marketplace has uniquely displayed in the collection and a high level of exclusivity is maintained.

Question 2

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

ERC-1155 token is a standard digital token that makes use of a single smart contract to realize multiple smart contracts. This token enhances the use of both fungible tokens and non fungible tokens.

It has a great speed and is of great efficiency when it has to do with multiple transfers. That is why it is called the next generation multi-token standard.
ERC-1155 allows marketplace NFT creators to let their users create new tokens without having to deploy new contacts over and over again. This goes a long way in saving the space and energy consumption in the blockchain

ERC-1155 is different from ERC-20 and ERC-721 in that it permits the control and management of more than one token type in a particular contract. Because, the major problem with ERC-20 and ERC-721 contract was that for every new NFT project, new contracts were created and that caused the blockchain to be so occupied. The Enjin company developers then came up with an idea of creating something with more efficiency but with lesser space consumption. They were able to achieve that with ERC-1155.

Not only can the achieved ERC-1155 contract manage several token type, it is also able to control a mix of both fungible tokens and non-fungible tokens. Therefore, ERC-1155 has the ability to function both as ERC-20 and ERC-721 and even gives more efficient and improved functionalities.

Question 3

Sign in to Etherscan. Please indicate the number of ERC-1155 tokens available at the time of writing your assignment. Indicate the top 5 coins based on the trading volume in the last 24 hours. Specify the Hash of the last transaction performed and the ID of the smart contract as well as the token. Show Screenshots.

For this task, I first logined to Etherscan.io, then I clicked on Tokens and then selected ERC-1155 Top Tokens

As at the time of writing this post, there was a total of 18,293 ERC-1155 Token Contracts found.
The first 5 tokens by volume of transaction in the last 24 hours are listed below with their respective trading volume.

No.	Token	Trading Volume
1	OpenSea Shared Storefront (OPENSTORE)	19,168
2	0xa7206d878c5c3871826dfdb42191c49b1d11f466	1,623
3	0xd0ed73b33789111807bd64ae2a6e1e6f92f986f5	1,472
4	Rarible (RARI)	992
5	Zapper NFT (ZPR_NFT)	953

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Last transaction carried out, the token and the smart contract

On the homepage of my logged in etherscan.io account, i clicked on Token and the select View ERC-1155 Transfers

Then i clicked on the transaction Hash of the last transaction done 28 seconds ago. The transaction Hash is
0xa1be17b404c7440481a236dcdf4c892ccea878b4cd5daa578193747e00962f7c

The token that was transferred was Rarible and the smart contract address is
0x9757f2d2b135150bbeb65308d4a91804107cd8d6.

Question 4

Enter Enjin wallet. Explain the functions it offers in the user interface. Enter the Marketplace: specify the number of items for sale, the first 3 items in the list and their descriptions. Show Screenshots.

On my already downloaded Enjin wallet, i clicked on the three parallel lines at the top right left corner. When that is opened, other sub features such as Wallets, Assets, Scan QR, Exchange, Marketplace, Dapp Browser, Linked Projects, Contact Support and Settings are displayed.

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The next feature is the Main Wallet which allows users to add more assets to their wallets.

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The next feature is the *contact symbol which lets users to add contact address type, and also chose the label they want to give to their wallet.

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The next feature is the + which lets users to addd more custom token to their wallet by clicking on the empty boxes corresponding to the token they want to add.

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The last feature is the three dots at the top right corner which allows users to back up their wallet, rename their wallet, edit the coin list, automatically add tokens to their wallet, manage their wallets and as well rate the Enjin wallet.

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Enjin Marketplace

From the mobile Enjin wallet i downloaded, i clicked on Marketplace.

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On the homepage of the Enjin marketplace, as at the time of writing this post, there were 17,483 items on sale.
And the first three items are GOLDEN EVANBROOK EGG, RUST BARLEY GRAINS and DEATH'S SIGH

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GOLDEN EVANBROOK EGG had 11 listings on sale starting from 400ENJ which is worth $556.00

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RUST BARLEY GRAINS had 16 items on sale starting from 0 ENJ which is worth $0.00

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DEATH'S SIGH had 10 items on sale starting from 150 ENJ whuch is worth $208.50

Question 5

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

The advancement of NFT in recent times has really encouraged thousands of persons to delve deeply into investing in the technology.

The tentacles of NFT has has so spread to several industries like the music industry, art industry, sports and even the business world.

A lot of celebrities in the music industries now recreate their works and sell them on NFT marketplace.

Artists art find the NFT marketplace as a great and rewarding place to sell their art works.

Popular Christiano Ronaldo and Lionel Messi have also found NFT worth embracing and they've invested in and found the NFT project a rewarding one.

In my opinion, I believe that with the way NFT is rapidly being embraced by so many, in the future, several other industries and individuals will troop in and embrace the technology and that will be a milestone to greatness as cryptocurrency will also be greatly appreciated.

Thank you for having me

cc:
Prof @imagen