Crypto Academy Week 12 - Homework Post for [Crypto Professor @levycore]

Before, I pick a particular market for NFTs. I want us to take a look at what is NFTs.

Non-fungible means they can't be replaced by the same assert. For a token to be non-fungible, it needs to be unique, limited, and indivisible. Each token is one of its kind respecting all three characteristics.^Source

You can fine the time to go through the Advantages and Disadvantages of Non-Fungible Token link

List of NFT marketplaces

1. OpenSea
2. SuperRare
3. Foundation
4. Mintable
5. AtomicMarket
6. BakerySwap

They are more than the list above but I will illustrate on Mintables, Hope you learn from my illustrations on how to sell and but NFTs tokens on this platform.

Mintable

This is a web-based marketplace for the creation and minting of NFTs. This platform allows anyone to create and sell Ethereum base NFTs with an internet connection without necessarily coding the smart contract by themselves. This platform also provides an easy to used NFTs minting features online marketplace. Mintable gives creators the possibility to market their newly minted NFTs immediately after creation.

With Mintable, anyone can upload videos or images on the Ethereum blockchain if it issues as an ERC-721. Artists have the chance to create multiple tokens of one work. Mintable is a fully decentralized platform with minters having full control over their contracts.

How to Sell NFT

Click Mintable website
Create account

Screenshot Home page

Screenshot Sign up page

Screenshot Login page

• Click start selling
  Screenshot To choose item

Screenshot To create item

Screenshot To connect wallet

• I don't have a MetaMask wallet, so I click to download and install.

Screenshot Download MetaMask to create Ethereum wallet

image created for my item cover by @fombae

Screenshot create item page

• Fill in the inputs starting with the category which your team will be placed under. I selected domain
• Image cover and description is given details of the item
• Clicking list this item you are processing to place the item for sale.

Precess to create transaction

Screenshot Click to view items

Screenshot My item and details of my item for sale

Screenshot to view my NFTs (click profile -> My NFTs)

How to Buy NFT

Click on any of the categories Art, Collectibles, Game Items, Music, Domains, Templates, and Videos. I will be demonstrating how to buy a token from the Game item category.

List of Items

Details of an item

Place my bid

I have a red notification because I do not have enough funds to bid for the item. Following the step-by-step screenshot, I hope I did not get you lost anywhere.

Advantages of Mintable

• Mintable is hosted on the Ethereum blockchain network, which is highly secure and accepted in the crypto network.
• Mintable tokens are ERC20 compatible, and when created at any time can be added to the total supply at any time.
• Mintable is one of the best ERC-20 token creating platforms in the world. Minting is done following your specifications and demand.
• Mintable creates tokens that do not have a fixed supply.

Disadvantages of Mintable

• Mintable are having a huge number of competitors on the Ethereum network, slowing the market for mintable tokens.
• The fact that tokens are added at any time, can affect the value of the token in the market.
• Mintable is a free platform, this can give way for fraudsters to create unnecessary tokens. By so doing crowding the network.

Conclusions

This is my first time coming across this platform in the course of the homework tasks. Mintable happens to be one of the best NFTs marketplaces to sell items on the blockchain network. This platform gives you the ability to mint up to 40 tokens, and you have full ownership of your contracts. Well, I m still trying to understand other aspects of this platform. Thanks to @levycore for this opportunity.