Hello great steemians. It's good to be part of S4W3.

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QUESTION 1

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

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Answer

Nifty Gateway platform is a 21st century digital and online rostrum under the blockchain that gives opportunity for transaction which involves selling and buying of goods and services. It has a website called www.niftygateway.com. It also has a token in form of nifties or Non-fungible Tokens (NFT). The NFT could be inform things like photos, video, audio or any kind of digital document.

THE FOUNDERS

The founders are Duncan and Griffin Cock Foster. It was later bought by the twins cameron Howard winklevoss and Tyler Howard Winklevoss both are American bitcoin investors and entrepreneurs in crypto currency exchange.

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The Nifty Gateway platform is actually owned by the parent company, Gemini LLC which is a crypto exchange platform initiated by the twins.
The nature of NFTs makes most influential artist like Boykins to invest and maximize profit comfortable without any duress.
Blacksneakers also sold over $60,000 in NFTs a couple of months ago.

NFT has peculiar value attached that is non-fungible token unlike dollar or other cryptocurrency that is fungible meaning the value or worth is similar to others elsewhere. The person that bids higher influences NFT and sets its valuation.

How can you buy Nifty Gateway NFT?

First and foremost create a Nifty account. In order to buy NFTs whenever is ready, its important that you verify an account with Nifty Gateway though not compulsory but optional.
Secondly, Purchase a wallet . Cryptocurrency wallets can be used to store your NFTs with good security.
Finally Buy a piece from the collection.

How do NFTs works?

Ethereum is one of the fiat coin in cryptocurrency just like bitcoin etc most of the NFTs are part of ethereum blockchain.
Advantage of NFTs includes authenticity, sole ownership and can be transferred.
Once there is transaction i.e. buying and selling on Nifty Gateway, you receive a portion of the sales. For instance if an artist chose a percentage of a major sale this could be 50%, or 5% while Nifty Gateway takes 30% of every sale in order to sustain the platform.

Merit of Nifty Gateway Platform

Most artist invest in NFTs because of the value and authenticity of their work that matches the value set by the platform.
NFTs gets its value because of the impact of what the artist had done.

Demerit of Nifty Gateway Platform

The platform could be hacked which could lead to loss of asset.
Its based in USA therefore limit other non crypto users outside USA to invest.

QUESTION 2

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

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Answer

ERC-1155 tokens is the combination of ERC-20 and ERC-721 which was introduced in 2019.
Due to the limitation of ERC-20 and ERC-721 tokens, the need for a hybrid became necessary which initiated the creation of ERC-1155. Example, if you mistakenly send ERC-20 token to a wrong address its difficult to trace and recover the transfer.

ERC-20 and ERC-721 tokens are not compactible because they are generated differently therefore it makes it complex.
In ERC-1155 it permits configuration of various types of ID this reduce time and cost. It combines the two different tokens.
ERC-1155 tokens also helps in verifying and reverting transactions compared to others.

ERC-721 is a token is used to depict the non-fungible tokens and is created base on ethereum's block chain yardstick. While the ERC-20 is used to describe fungible tokens used for creating fiat or stable coins e.g. USDT. Each token has a precised value. It still has relevance and vital role in block chain.

QUESTION 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.

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Total tokens at the time of writing 18,262 ERC-1155 token contracts found.
The first five tokens are;

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Answer

1- OpenSea shared storefront
Volume in last 24hours is 16,406
contract is 0x495f947276749ce646f68ac8c248420045
Last Transaction hash is 0x7d0512fa5e19d2d775bb55efe9b5e9960cc59f9c627b1f5eb22a5749162f2

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2- ERC-1155 token contract is 0xa7206d878c5c3871826dfdb42191c49b1d11f466
Volume in 24hours 1,464
Last Transaction hash is 0xfefb4f26c63ea2ae0ae682aff52c5dbd9b1d210e8069423f37491283928ac994

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3- ERC-1155 token contract 0xd0ed73b33789111807bd64ae2a6e1e6f9
Volume in 24hours 1,300
Last Transaction hash is 0xa9ee934a8be7efc60a4cedaa7cd99dcb94f47a6dc4727f09633086955fbd857

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4- Rarible (RARI)
Contract is 0xd07dc4262bcdbf85190c01c996b4c06a4
Volume in 24hours 848
Last Transaction hash is 0x39d79792c99695fd7c7aa38dd8a9538c82ded2f42ca0b8eca8b019d2fe377e36

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5- Zapper NFT (ZPR NFT)
contract 0xfaff15c6cdaca61a4f87d329689293e07c
Volume in 24hours 549
Last Transaction hash is 0x17bbe4fbe2f7f5deb4cb5adbc9ac2c0d7141f6f47337eaf00f3071aa1d3cbb3

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QUESTION 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.

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Answer

The features of enjin wallet includes;
Assets, Wallet, Marketplace, Exchange.
ASSETS: This is what connects the wallet and the marketplace.

WALLET: It can be seen as the store. It keeps all assets. List of varied tokens are also found here.
MARKETPLACE: Its where NFT is bought of sold.
EXCHANGE: List of exchanges that supports the wallet are displayed here.

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The total number of items for sale at the time of writing is 17,481.
The first three items on the list includes;
Tears of serenity, Revenge and Golden Evanbrook Egg.

1- TEARS OF SERENITY;
The discovery of the kingdom of anaria has no end.
It was created two years ago.
it has a standard of ERC-1155 (Enjin) and total supply of 968

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2- REVENGE
Humans in the time past were marginalized and oppressed. In an attempt to fight back result to revenge.
It was created 3 years ago.
Has a total supply of 1000

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3- GOLDEN EVANBROOK EGG
Only one of the evanbrook chicken out of 50 that produces in its lifetime.
Created two years ago.
with a standard of ERC-1155 (Enjin).

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QUESTION 5

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

Answer

In my personal opinion, NFTs will spread like whirlwind in the future across other digital platforms because of its connection with other activities that revolves around man.
Such activities include games, music, etc.

Consequently, as sportsmen, Artist, those in game get familiar with this, they will invest more into it. Their fame and reputation in life will cause a paradigm shift in the NFTs thereby boosting the platform. In the nearest future NFTs will be in logger head with other traditional coin in the block chain.

CONCLUSION

I really want to appreciate the academy for this week's session. It's an eye opener.

Cc:
@imagen

Best Regards
@charis20