I am very pleased to take part in this week’s classes organized by the steemit cryptoacaemy. I really enjoyed all the lectures of the professors. I really enjoyed all the class.Thanks to prof @imagen for such an amazing lectures on what the NFT Market is all about. I am also happy to take part in your homework tasks. Lets get the ball rolling……….

1 Describe in depth the Nifty Gateway platform, who are the founders?

Before we take a look at Nifty Gateway Platform, let’s take a look at what is meant by NFTs.

NFTs are simply real tokens that have real values attached them on the digital market. The NFT is an abbreviation which stands for Non-Fungible Tokens as we all know from the previous seasons. They are digital asserts which intends to represent real life objects such as photograph arts, crafts, collectibles etc. This makes NFTs very exceptional and unique assert from all other digital asserts such as Ethereum, bitcoin, tronx etc.

NFTs are not divisible because it is not fungible like bitcoin or any other crypto currencies which can be broken down into pieces because they are fungible. Bitcoin can be divisible and even have smaller units which is the Satoshi. One NFT can represent a photo, so just imagine the token is divisible, does it mean that you will receive half of the pictures? This is the difference between NFTs and other digital asserts such as bitcoin, Ethereum, etc.

In order to buy and sell these NFTs, we need a market place for trading them. Some examples of these market places include Opensea, AtomicHub, Enjin, SimpleMarket, Nifty Gateway etc.

What is Nifty Gateway platform.

As I already mentioned above, the Nifty Gateway was listed among the market place for NFTs to be traded.12qwbfv from earlier on
Nifty Gateway is a decentralized market place for all NFT holders and non-holders to trade. In this way NFTs can be exchanged among individuals.

Who are the Founders of Nifty Gateway?

Duncan and Griffin Cock Foster who happens to be twins are the brains behind Nifty Gateway which is now a household name when we talk of NFT market place. They started to engaged in crypto currencies in the year 2017. The whole idea of getting into the NFT side was the fact that there was no sufficient market place for the NFT during that time. They thought it wise to develop a platform which will greatly make a difference in the NFT world. This dream was brought into live in the year 2018 facilitating the trading and even creation of NFTs.

As at now, Nifty Gateway is own and managed by Gemini who happens to be the owner of a world renowned crypto exchange platform known as Winklevoss Twins.

Market or Targets is it aimed at?

There are airdrops of NFTs such as videos, music and art works on Nifty Gateway in which traders can accumulate some for future at drop sale prices. These air drops are open to the market at a particular date and time. In case you should miss these airdrops, you have the chance to buy from other holders who had the chance to buy on the day of Airdrop. These airdrops could be free or at airdrop sale. It is aimed at reaching out to a number of holders of the airdrop therefore its distributed over a period of time occasional until that number is reached. It is usually done in every three weeks. Nifty Gateway usually targets a total number of 1 billion people to acquire the NFTS which were dropped.

MetaMask wallet can be used to upload NFTS through the Nifty Gateway Omnibus onto this marketplace for sale.

When it comes to Nifty Gateway fees, 5% chargers are attached to any transaction on the market. This generates revenue to the Market through royalties. When it comes to secondary sales, 10% is given to the creator of the NFTs. Gas fees are not attached but rather determined by NFT Miners.

There are two major ways of withdrawal which are through Gemini and Bank Transfer.

BANK TRANSFER; Nifty Gateway is one of the few global market places that allows withdrawal into bank accounts but even with this, it is only allowed for those within the United States. Citizens of only this country can make withdrawals into their bank account.

Gemini; which happens to be another means through which NFTs can be withdrawn from Nifty Gateway. It requires a simple set up on the account. As soon as it it set up, withdrawals are good to go through.

ADVANTAGES AND DISADVANTAGES OF NIFTY GATEWAY

PROS	CONS
There is both bank and gemini transfers allowed	Bank transfers are allowed only within the United States
Purchase of NFTs can be done through Credit Cards	Past records of Hacking Attacks
Availability of Genuine NFTs	Use of custodial means

2 What are ERC-1155 tokens?

It is simply another Ethereum based project which is unique on its own with its ability to perform two main functions. These functions comprise of the other Ethereum based project in the likes of ERC-20 and ERC-721. Which means ERC-1155 can perform both functions of the ERC-20 as well as the ERC-721.

Unlike the ERC- 20 which are responsible for only fungible tokens and the ERC -721 are mainly responsible for the non-fungible tokens, the ERC 1155 can accommodate both the fungible and the non-fungible tokens. This makes using the ERC-1155 easier and simple to use since both tasks can be executed on one platform.

How do they differ from the ERC-20 and ERC-721 TOKENS?

The ERC-1155 differs from the ERC20 and the ERC-721 in many ways but will list just a few.

• The ERC-1155 can execute both fungible and non-fungible tokens smart contracts unlike the ERC-20 and ERC-721 that performs each separately

• Less gas fees when it comes to ERC-1155.

• ERC 1155 is more secured than the rest of the Ethereum based projects.

• It is more secured and tokens sent can be reversed back to the user in case transactions are not carried out.

3 Enter Etherscan, Indicate the number of ERC-1155 TOKENS EXISTING AT THE TIME OF WRITING YOUR TASK. Indicate the first 5 tokens per volume of transactions in the last 24 hours. Indicate the hash of the last transactions made and the identification of the tokens as well as its smart contract. Show screenshots.

• Click on the Token Button and then click on view ERC1155 top tokens.

• A total of 18551 NFT tokens were found.

The top 5 tokens are listed below

• OpenSea Shared Storefront (OPENSTORE), 24,167 transfers.

• PAGE, 11,072 transfers

• 0x54f456b544abfb785694400bcb1d85629b2d437f(contract), 10,689 transfers

• 0x7a44228e46cdd37a85c0b07c4043b86c11e8c315(contract)
  3,654 7,760

• Zapper NFT V2, (1,636 transfers)

• The last transaction as at the time of writing this post.

• The token is an OpenSea token; The last transaction hash is 0xbce6748a20b662b67cf5b1d08f1a49c0f2590647853e42bef629ba035e27118d With a contract address of 0xd0ed73b33789111807bd64ae2a6e1e6f92f986f5.

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

The first three NFTs on ENJIN on sale as at the time of writing this post are Founder's Token,
Infowars Telegram 'https://t.me/infowarslive, and Golden Evanbrook Egg.. These tokens are displayed in the above screenshots.

Founder's Token

This token was created to appreciate and aknowlege the bold steps taken by some individuals to pave way for what no one has ever done. To say a very good job to anyone who has taken that bold step. Other vital info about the token are listed below;

Creator:0x7d510f661F490482fbFF45275b00A82F5F69f784
Reserve:20 ENJ $26.80
Project:Lost Relics
Created:2 years ago 29 May 2019 09:56:21
Standard:ERC-1155 (Enjin)
Supply Type:Collapsing
Total Supply:324
Circulating Supply:324 (100%)
Transfer Fee:20
ENJ
Per transfer
Melt Fee:None
Hodlers:324
Transfers:747
Melts:3
Ethereum ID:0x508000000000034d000000000000000000000000000000000000000000000000

Infowars Telegram 'https://t.me/infowarslive'

The official Telegram Channel which belongs to the Alex Jones and uncensored infowars contents…

Creator: 0xbDc6cb4528a5D113C7bfCAca4Df329AAF7a52EED
Reserve: 0.005 ENJ $0.01
Project:INFOWARS.COM
Created:2 years ago 17 Mar 2020 16:23:35
Standard:ERC-1155 (Enjin)
Supply Type:Collapsing
Total Supply:9,996
Circulating Supply:9,996 (100%)
Transfer Fee:None
Melt Fee:None
Views:1,293
Hodlers:30
Transfers:38
Melts:1
Ethereum ID:0x7000000000001490000000000000000000000000000000000000000000000000

Golden Evanbrook Egg

This is a special egg believed to bbe lay by one of the 50 chickens of Evanbrooks in every year. It is believed that anyone who owns one has a long life span. This story is somehow believed to be through. More info on the token are listed below...

Creator:0x7d510f661F490482fbFF45275b00A82F5F69f784
Reserve: 0.6 ENJ $0.80
Project:Lost Relics
Created:2 years ago 25 May 2019 07:53:30
Standard:ERC-1155 (Enjin)
Supply Type:Collapsing
Total Supply:427
Circulating Supply:427 (100%)
Transfer Fee:3
ENJPer asset transferred
Melt Fee:10%
Views:16,218
Hodlers:319
Transfers:1,119
Melts:0
Ethereum ID:0x1000000000000630000000000000000000000000000000000000000000000000

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

The NFTs revolution is a unique way of owning artworks, music and many more. I think in the future, the NFT will not only allow people own this limited assert but it will go a long way to add more stuffs. A time will come where the NFT markets will add more variety to the market. Making it unlimited
The NFT Market will expand making its market place unlimited rather than what we have now.

CONCLUSION

A very big thanks to the steemit crypto academy for yet a successful edition of another great teachings. Thanks also to our honorable professor @imagen for taking us through such an amazing class on NFTs and some market places of them.
Thanks for also making us understand that the NFTs are special and unique asserts which has a very bright future for everyone on the blockchain network. I am very glad to have gone through your lectures and taking part in your home work task. Hoping to attend your next class.