REPOST: NFT Markets - Crypto Academy S4W3 - Homework Post for @imagen

Thank you, Prof @imagen for a well detailed lecture for this class. Deeply appreciated.

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

Griffin Foster is the founder of Nifty Gateway and this was in 2018. It became a digital NFT marketplace where people can buy and sell unmatch digital art collections. Each one of art is insanely one of a kind and it's able to trace on the Ethereum blockchain. the digital collectibles are called “Nifties,”
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As the marketplace that is curated NFT, it has a devoted team that is completely veterinarians, each one artist minting and issuing Nifties on its platform. In this way, the platform has a goal to provide only the highest quality digital Nifty to the collectors. It is a centralized curation system, it works as a reminder that not all investment needs to be decentralized to gain the benefits of blockchain technology, and the different groups can choose to use blockchain in a way that is designed to their specific needs.

How Nifty gateway is different from other NFT platforms.

We have two main forms of NFT marketplaces. In the art marketplaces, you can mint, sell, and trade NFTs with little or small curation over the content and it's a Decentralized marketplace. It is a Curated platform, they place their focus on high-quality offerings and they tend to be built with advanced performance way for a better user experience.

How to buy Nifties.

If you want to buy Nifties, all you need to do is register a free Nifty Gateway account and place a buy using a pre-paid balance of ETH or an accepted range credit/debit card. There are several possible buy methods on the main website, it depends on the specific Nifty drop.

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

ERC-1155 is a particular token that underprops NFTs (non-fungible) and exchangeable tokens. It is fast and easier to use in batch token transfers. It was developed by Enjin, it is named, “the next generation multi-token standard.”

ERC-1155 can use a single contract to make different types of NFTs. The transaction fees are cut by 90%, which makes it affordable for anyone to start minting on the Blockchain. The only problem is that the NFT find it hard to track ownership term; to save data that is stored on the blockchain ERC-1155 has what it required on Ethereum logs that have less strong information.

Pixabay

How ERC-721 is different from ERC-20 and ERC-721 tokens?

ERC-721 token and ERC-1155 token have a feature that's the same which is non-fungible (NFTs) they can't be impaired or destroy, essential set of rules for NFTs. There is a unique thing about NFTs tokens; they cannot be replaced and they have a different value from other tokens that are part of the same smart contract but ERC-20 is fungible in tokens, its token is used for identical entities and they are useful for creating stable coins

ERC-721 problem is that, when gas fees are high, it can cost an artist sum in Ethereum before they can mint an NFT. But ERC-1155 has 90% gas-free while ERC-20 has a high gas cost

There is a limitation in ERC-20 and ERC-721, and this is what makes them create ERC-1155. If users send tokens to a wrong address by mistake In ERC-20 tokens, what they have sent is lost forever due to the lack of how to solve these transfer events. ERC-20 and ERC-721 make use of the new smart contract separately for all token types or collections. In addition, it is not possible to acquire a token identifier directly, which makes transactions with these tokens hard but ERC-1155 lets each token ID represent a new type of token that is configurable which can reduce the amount of data needed to differentiate one token from another.

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 are the step by step for the task

the main menu of etherscan

To find where the ERC-1155 is, you have to click on "Token"

In this screenshot below, I indicate the number of available ERC-1155 as at when I'm doing this assignment task.

In this screenshot below, I indicate the first 5 tokens by volume of transactions in the last 24 hours.

In the screenshot below, I Indicate the Hash of the last transaction carried out and the identification of the token as well as its smart contract.

4. 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.

In the Enjin user interface, it displays some written which are: We grow your business, earn and trade, integrate with games and apps

These writtens are the features of Enjin and the services they render to their users

In the marketplace, there are 17,475 items on sale

The first 3 items on the list.

Their descriptions:

1 The Dividing Supremacy

8 on sale, starting from 650 ENJ $890.50

With a large group of upheave individuals at their command, the sisters wounded them with powerfully axes that was enchanted. These axes had been previously pillaged when there was an invasion.

The sisters always lead the gang from one place to another place, they don't show remorse for those who would oppose them.

But there's a man in their midst that caught the fondness of both sisters.

With the use of his cunning, he played the 2 women against each other by charm and deception means.

Finally, the two sisters grew to be unusual with themselves.

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Dividing the gang in 2, the sisters went on their different ways.

It was then that the man call on his secret force and dismantled the 2 separate groups by killing the sisters and taking the dominant axes from all of the fallen enemies!

2 Tears of scenery

2 on sale, starting from 224 ENJ $306.88

there's a Kingdom called Anaria, it has been a place that secrets are well kept for centuries, and the Anarians would like to keep it like that. Anaria is remarkable, and the never-ending realm of discovery, its location is on the outskirts of the known world and nestled deep within the jungles of the land where it laid.

While learning about this land by an ancient text, Talmuthian adventurer Marlon Rauk, plan a mission to track down its location and prove its existence. This assignment wouldn't be an easy one. If the ancient texts were not false, then no outsider was ever made way by the bush, and to the Anaria, while living to tell the story.

Marlon so much loved challenges, and despite the dangerous word in the text, he continued with his military journey. After he determined that the kingdom's location must be on an island in the eastern ecliptic, Marlon bought a vessel, and he sailed for several days before he finally arrived at the shores of his destination.

Without delay, Marlon began to do according to his plan

3 Nestable Founders Token

6 on sale, starting from 600 ENJ $822.00

This token stand as a reward for those members that formed an early part of the "Nestable community" by giving them support in both early development and their community appointment. They thank them for being a part of the journey with them

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

In my personal opinion, the future of the NFTs market is really good and amazing. Reason: it is because they keep looking for solutions to all problems that they are facing and the ones that may await them in the future. A good example; the ERC-20 and ERC-721 that's why the creation of ERC-115 to do what they are not able to do

Conclusion

In the NFTs, ERC-20, ERC-721 and ERC-115 have parts they play, it's only that they work in different ways but they cover up for themselves, where ERC-20 is not too good, then ERC-721 would be good there and anything that ERC-721 lack ERC-115 won't lack it.

Sources:
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Here, you have the plagiarism reports for the assignment.

Thank you for your time.

My pen doesn't bleed, it speaks, with speed and ease.

Still me,

My tongue is like the pen of a ready writer.

Olawalium; (Love's chemical content, in human form). Take a dose today: doctor's order.