Hi, professor thanks for the class without a doubt with the inception of NFT in the crypto space more financial transactions have been processed with billions of dollars NTF have proven to be very unique as artists, athlete and celebrities can own their work without worry about the copywriter, plagiarism from unknown users stealing their works.

A transparent bridge that builds trust between artists and their collection has been built with the inception of NFTs today.

Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at?

Nifty Gateway is a marketplace known for digital collections which means it's a secure platform that connects users from different parts of the world using a web-based server to trade all kinds of digital collections known as NFT NFT also known as none fungible token they are digital token recorded on the blockchain ledger NFTs can be all manner of assets such as artwork collections, music, games, and other unique artifacts what makes NFT unique is they are not interchangeable, only an owner of NFT has right to sell/have proper ownership over his digital asset.

**Platform owners

The platform is owned by Gemini LLC it is a recognized exchange platform for trading cryptocurrency the crypto twins Winklevoss brothers are the founders of the Nifty Gateway platform.

What market or target is it aimed at?

Nifty Gateway platform known for its NFT collection is aimed at capturing the interest of users worldwide who are interested in sharing their artistic works, music it also aims to create an avenue where users across the world can meet in one market place and make the convenient transaction.

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

ERC-1155 tokens

An ERC-1155 token is an NFT supporting token virtually used for minting NFT collection items it is unique in the sense with a single contract token a user can create multiple NFT collection items.

Also what makes it very unique is its cheap means of transactions it can be used for making transactions at a cheaper rate.

The only drawback about ERC-1155 tokens is that it is difficult for users to track NFTs data on the blockchain ERC-1155 tokens are developed by the enjin platform.

The ERC-721 tokens

These differ from the above token in the sense that they are very expensive for making the transaction they also support NFT collection assets, they are unique because with the token users can easily track NFT collection on blockchain

ERC-20 tokens

These tokens are none fungible which means they can be burn, their supply can be increased and decrease on the blockchain.

The ERC-20 token is generally used for creating ethereum standard tokens for any developer who is willing to create an ethereum based token they will follow the ERC-20 layout standards such as token total supply, circulation, and transaction data.

Therefore from the 3 tokens, it can be seen the ERC-1155 tokens differ in terms of means of conducting transactions which means it is more convenient for an artist to use ERC-1155 tokens to create NFT collection so as to maximize profit.

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.

The etherscan homepage presents users with important information like current price of ethereum ethereum market cap difficulty rate and, number of daily transactions conducted on the ethereum blockchain

Below I created a new account on etherscan

Please indicate the number of ERC-1155 tokens in existence at the time of writing your assignment.

The number of ERC-1155 tokens at the time of writing, this post is *18,517"

Indicate the first 5 tokens by volume of transactions in the last 24 hours.

Below is the screenshot of the first five tokens by transactions.

Transaction hash

0x8bd6f7da4378b78c27c7b17ddd62560c001bd5ebaecff6d0c3cbef7eb99909ea

Token name

Open sea shared storefront

Token smart contract

0x495f947276749ce646f68ac8c248420045cb7b5e

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. Show Screenshots.

After successfully installing the enjin wallet below are some of its features.

Wallet

The homepage of the wallets presents a user with the balance of his total assets there are several tokens presented such as BTC, ENJ, and, ETH a user can choose any of these tokens, and make a deposit also there is a plus sign at the top right corner of the wallet homepage a user can use this feature to add a new token of choice on the wallet.

The below feature also allows a user to create multiple enjin wallets a user can also import an old wallet with the import features a user can add a new external like trust wallet or exodus wallet.

Assets

This feature provides users with a place where they can store their NFT collections with this feature a user will know the total number of NFTs they are having.

Scan QR

This feature allows a user to make easy and convenient payments using scanners, bar codes can be viewed using the QR scan and then use for making payments.

Exchange

This feature allows a user to make a quick conversion of tokens from the exchange there are selected exchanges which a user can choose from and make a quick exchange of tokens a user can send a specific token let's say BTC and get USDT in return.

Enter the Marketplace: indicate the number of items for sale, indicate the first 3 items on the list and their description. Show Screenshots.

On the enjin marketplace as of the time of writing this post it can be seen there are 17,475 items on the sale list.

Indicate the first 3 items on the list and their description. Show Screenshots.

Founder's Token

This NFT collection was created 29 May 2019 10:56:21 it's sold for 1000 ENJ equivalent to $1,340.00, it is an ERC-1155 token standard.

The number of holders holding this NFT item to date counts to 324 it has a total supply of 324 and a circulating supply of 324.

This shows there are limited numbers of standard token which all have been sold out with it total circulation supply at it saturated point.

Currently, there are 27 listings of founder's tokens available for sale interested users can buy the limited sale out the item for 1000 ENJ

Infowars

It's the second NFT listing on the enjin marketplace this collection is sold out for 1 ENJ equivalent to $1.34 on the platform there are currently 6 listings of this NFT collection.

Created 17 Mar 2020 17:23:35, it has a total supply of 9,996 with a circulating supply of 9,996 currently 30 holders are holding these NFT collections.

Golden Evanbrook Egg

There are 12 listings put out for sale currently it is sold out for 400 ENJ token equivalents to $536.

This NFT collection was created on 25 May 2019 at 08:53:30 it is also an ERC-1155 token standard with a total supply of 427 collections and a circulating supply of 427, there are 319/holders of Golden Evanbrook Egg as of the time of writing this post.

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

Without a doubt, over the years we have seen a reasonable increase in NFT market cap more users are exploring the NFT community this has skyrocketed the market to rise exponentially.

With these daily increases, high market sales, and demand for NFT collection it market holds a much better potential in near future as of now majority of users are yet to understand or fully adopt the NFT space.

The future of the NFT marketplace is still at the infant stage as more users join the community there will be massive growth in terms of sales of NFT collection high demands and the purchase will also increase.

Give reasons for your answer.

• The NFT marketplace is yet to be fully known by majority of users to date only a few percent have an idea about NFT with more users in the market in near future there be exponential growth in the market.

• Demand will increase in the future as more users join the NFT community this will also increase NFT market capitalization to billions and trillions

• NFTs giving artists, musicians, and other celebrities a platform to host and own their collection without rigorous market strategy taken this gives such users a sense of confidence and trust to host their ideas digitally without third party interference with this opportunity more celebrities will prefer to own their collections digitally which is more secure.

Conclusion

NFT gives users a sense of ownership over their assets this has been an incredible means of building trust among users globally as an art collection or music collection can not be owned without the direct consent of the owner.

The Nifty Gateway platform is an NFT marketplace for transacting NFT items it is a server used to connect users worldwide here other users can meet to buy and sell NFT collections.

ERC-1155 token provides users with cheap and convenient means of creating multiple NFT items it is so far an affordable token for minting an NFT collection.

The world of NFTs is yet in its infancy as more users join the space a massive market increase and demand for NFTs will increase.