Introduction

Gemini LLC is the New York trust company that founded Nifty Gateway. Nifty Gateway is platform responsible for the trading of non fungible tokens (NFT). This NFTs are quite similar to cryptocurrency but they are made in form of a digital token hosted on a ledger called Blockchain. Nifty Gateway sells different types of assets like music, art and games. Presently, the company is valued between $774million to $1.2 billion in sales volume.

There have been recent news of cyber attacked on Nifty Gateway with users lossing thousands of dollars in tokens. Although, the victims were reportedly not using the security architecture called 2FA available on the platform.

Nifty Gateway generate funds through royalties deducting a pre-fixed percentage of 5% on each sales made and a transaction fee of 30%. Presently, withdraw are limited to US bank account holders. Other around the world we need a Gemini account to process withdraw which unlimited.

How to trade NFTs

The Nifty Gateway's market place is exclusively reserved for artwork and music. Both have been curated by the team. Many popular musicians like Lil Yachty and Carl Cox have released songs on the platform making thousands of dollars. Likewise, popular football players like Kobe Bryant and Mesut Ozil are also popular on the platform.

How to buy and Sell Nifties

To buy Nifties the following are the procedure:

1.Open an account on the platform
2.Sign up or Login if you already have an account.

1. Input details or create a new username
2. Fund account through Ethereum or debit) credit card.
   5.Locate the Nifty you wish to buy and click on bid
3. From here, it will request for your payment option.

To sell Nifties the following are the procedures:

You can upload the acquired NFTs in an Omnibus wallet through MataMask. Or you can directly apply through the website to sell your artwork alongside meeting the requirement of filling a short questionnaire.

Advantages of Nifty Gateway

1.It has a very good artistic collection when compared to Rarible or other NFTs platforms.

2.It's vets her artists and select the best to join the platform. Also it is a good for investment purposes.

Disadvantages of Nifty Gateway

1.'NFTs heist' it is recurrent cyber attack for people that did not verify 2FA.

2.High form of energy is needed to carryout transactions, thereby affecting the environment.

ERC-1155

ERC-1155 is a different token that has the capacity to support non fungible tokens (NFTs) and it is built by Enjin on the Ethereum ecosystem. It is excellent in term of speed especially when used in batch token transfer.

It uses single contract to form different types of NFts. With gas fees less than 90% it very cost friendly. It is also a tool for making use of tokens with different functions.

Difference between ERC-1155 from ERC-20 and ERC-721 tokens

1.ERC-1155 can keep under its jurisdiction tokens that can function in a similitude of ERC-20 and ERC-721 tokens either under the same time and address.

2.ERC-20 tokens cannot react to transfer events. This as led to trapped tokens especially when users send to wrong addresses while ERC-1155 can resolve transfer events/issues with ability to revert tokens to the issuers.

3.ERC-721 also have problems identifying the owner of a token directly. Therefore, making transaction difficult with individual transfer incurring costs. This is resolved by ERC-1155 because mass transfer are possible with minimal cost. It's also interface with ERC-165.

4.Both ERC-20 and ERC-721 tokens are not compatible with each other while ERC-1155 is highly compactible with both.

Checking ERC-1155 tokens on Etherscan

I login to Etherscan through Etherscan

I then click on Etherscan tokens as shown below:

The top five tokens are where shown in the screenshot below, their transfer volume in 24h are 17,883, 1558, 1382, 906 and 807 with an overall 18,267 ERC-1155 tokens available at the time of writing this post.

The details of the number one of the first fice harsh tokens is display below:

The contract details is marked red at the top right hand side.

The Engin wallet

The following are the user interface of the wallet:

To enter the Engin wallet I downloaded the APP from Google play store.

I created the Wallet by inputting my details/password:

I then click on the marketplace icon to access the items listed there:

The following are the top three items:

1.Wooden Shield: it is worth about 0.5ENJ with about 0.01 per item. It has a total of 810,401 supply in circulation.

2.Archspire(The multiverse)

3.Aeronclipse key(The multiverse)

The future of NFTs market

The future of NFTs Market is huge expecially for investors, artist, musicians etc. This is because the adoption of blockcain technology is growing rapidly and the advantages it's present will definitely woo more people to embrace it in the future.

@imagen