Good day Beautiful Steemians, I am @hadassah26, welcome to my Steemcrypto Academy season 4 week 3 homework for professor @imagen on NFT Markets,

^{Picture from canva}

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

Nifty Gateway is a digital art marketplace that lets you buy, sell, trade, and display your arts NFTs. Its main purpose was to make arts accessible to everyone by teaming up with talented artists and influencers. It is an NFT(Non-fungible tokens) platform that combines crypto-technology and artwork to provide tradable opportunities. The marketplace makes everyone have true ownership of the art they created or purchased because it is stored on the blockchain and though to its decentralized nature, only you can have access to it anytime and any day.

Nifty Gateway is among the top platforms that sell Crypto art and NFT. Some art that can be sold or bought on the platform includes art, music, games, etc. Gemini acquired Nifty gateway in 2019, which was founded by the Winklevoss twins. The Winklevoss initially built an investment portfolio in the year 2013, and they founded the Gemini company in 2014. Gemini is a cryptocurrency exchange website. Each content of art is unique and only traceable in the Ethereum blockchain. The platform has a very strong team that vets each artist issuing and minting Nifties on its platform. It aims to give very high-quality digital collectibles to Nifties buyers.

What makes Nifty Gateway Unique.

We have known that Nifties gateway gives a very high-quality artwork and below are what makes this platform special to other platforms

• In the Nifty platform you can use your Fait money (Legal tender) to buy and sell Nifties. They run transactions with banks
• All complex technical issues of minting and distributing NFTs are being handled by the Platform
• You being the original owner of the work still receive some percentage whenever your work is being bought or sold.
• The Nifty Gateway is very user-friendly, which helps you to view the price graph of any NFTs. being a collector, you can set price alerts for different NFTS.

Selling NFT on Nifty Gateway
These are the steps for you to sell your artwork on the NFT platform

• Go into the their website
• Select Sign up
• Enter your name
• Enter your main social network, portfolio,and your active email
• Enter also the type of the artistic projects which the artist wants to propose on the platform
• Write your Short terms and long term goals of your career as an artist
• Make a video and share showing people your art work.

Some popular artist in the Nifty Gateway includes

Carl Cox, Deadmau5, Ozuna and rapper, Gramatik, Lil Yachty, Trevor Jones, Bitcoin Angel, 3LAU, Genies, Lushsux, and Greg Mike, etc.

The Market is aimed at Collectors, artists, professionals, enthusiasts.

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

ERC-1155 are special tokens that support s the NFTs and Fungible tokens. ERC-1155 is fast which makes them more effective to use in many token transactions. The Tokens normally enable you to create every asset that you can think of, from real estate, currency to gaming items and digital arts. The ERC-1155. We should understand that the ERC-1155 is a new type of token in the ethereum which can change the landscape of DApps in the Blockchain. One of the new features of the ERC-1155 token is its multi-token capacity, and many improvements to make it user-friendly and make the users have the best experience of the token.

The ERC-1155 was brought into existence because of the limitations that had already been existing in the ERC-20 and the ERC-721. The ERC-1155 is created to make life easier for developers and improving most of the tools that they work with. This ERC-1155 token can act as if they are ERC-20 and ERC-721 with the same address at this same time.

The reasons why ERC-1155 was created?
Let us carefully study why the ERC-1155 token was created. As I have said before, it was created because of some limitations of the ERC-20 and ERC-721. So let's look at improvements and what makes ERC-1155 better than the ERC-20 and ERC-721.

The Setbacks of the ERC-721 token

We should understand that the ERC-721 token had a lot of setbacks that made the coming of the ERC-1155 very successful. One of the set back is its inability to identify the owner of the token directly, which makes the transaction more difficult. There was no batch operation using the ERC-721, for instance, you want to transfer 5 NFTs to somebody else, the transaction will need you to make 5 different transactions and in turn, the transfer charge will be bigger than when all the transactions are carried out simultaneously and you should also know that much transactions carried out at different time loads the network, which will have an impact on the Ethereum network. This is one of the sets back that ERC-1155s corrected.

The Setbacks of the ERC-20 token

The ERC-20 has some setbacks that ERC-1155 came to correct, such as the way it reacts to ERC-20 transfer events. Sending tokens to the wrong address can not be recovered forever. If you mistakenly sent 20 NFTs to someone else address, you should just know that it is gone forever. This is one way that the ERC-1155 token is unique from the ERC-20 token. It can restore Transactions that occurred wrongfully.
And they are so many other limitations in the ERC-20 and ERC-721, which another one is the incompatibility that exists between the ERC-721 token and the ERC-20 token. They both have different contracts, in that it will take you a lot of effort for you to provide a link between both of them, which will have a very high effect on the network and a high commission fee.

Some other things that make ERC-1155 furthermore differ from the ERC20 and the ERC721 are as follows

• In ERC 1155, which can integrate some functionality in another token such as the ERC-165, which ERC 20 and ERC 721 could not.
• Mass transfer was easily done with ERC- 1155 which was not in the other both which were ERC 20 and ERC 721
• The security of your token transfer is being guaranteed using the ERC-1155, even if mistakes are being made, it can be reverted, which the ERC 20 and the ERC 721 can not do
• The ERC 1155 also provides the ability for a contract to have multiple tokens which are done in the ERC 20 and the ERC 721 token.

"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 transaction made and the identification of the token as well as its smart contract. Show Screenshots."

Enter Etherscan
From tokens downlist select ERC-1155

First 5 Token are seen in the Screenshot below

Opensea shared and it smart contract is below

Zapper NFT V2 and its contract

Zapper NFT (ZPR NFT) and its contract

Reki Anniversary ticket and its contract

Rarible and its contract

The Last transactions and its detail

"4. Enter the Enjin wallet. Describe the features it presents in your user interface. Enter Marketplace: indicate the number of items for sale, indicate the first 3 items in the list, and the description of them. Show Screenshots."

The interface of the Enjin wallet does not look very attractive. It does not have many colors for beautification but it is very simple to navigate. It is user-friendly. Anyone can easily use it. Just like me, today is my first time using this platform, it seems very simple. No many complications.

This is how the interface looks
Because I don't have an account with Enjin wallet so these are the steps for you to create an account with them.

Select Open Wallet

Select Create Wallet

Then you can select the Cryptocurriencies you want to store in the wallet
These are all the interface of the Enjin wallet

How to Enter the Marketplace
Select Markeplace from the drop down list

this is how the marketplace items looks like, you can scroll down for more items

These are the first 3 lists of items for sale

The first item I saw was the Tears of serenity

This is the description of the tears of serenity

The second item I saw on the list is Nestable founder Token

This is the description of Nestable founder Token

The third item I saw on the list is Origin

This is the description of the Origin

"5. In your personal opinion, what is the future of the NFT Markets? Reason your answer."

In today’s world, digital trading is gradually pushing away the physical way of trading. Cryptocurrencies are gradually becoming the king in the market. Everyone is talking about Bitcoin, ethereum and it likes everywhere you go. Due to its high security, it is becoming very rampant. The very new trend that is gradually growing now is the Non-fungible token,(NFT) market.

NFT deals with the buying and selling of people’s creative works, which includes memes, artwork, recording GIFs, and many more. When you buy a work, you are being given a certificate of ownership and the works become yours automatically. The fact that the NFT is on the Blockchain, makes it an immutable digital ledger. The blockchain normally handles the management and tracking of each NFTs and protects each token.

One of the futures of the NFT is its ability to represent a very large variety of artworks, and with time many more investors will troop in to buy and sell their works. More money will be invested into the platform because of the influx of people. In the future, there will be more creative people that will sell and buy artwork. This factor only can bring it into the limelight for it to compete with the likes of bitcoin and ethereum. More trading transactions will be done on the platform and its volume will become bigger. There will be a massive opportunity on the platform. More funds will be invested in the platform

The fact that the individual's artwork is being stored on the blockchain, makes it very impossible for anyone to duplicate your work, and also blockchain provides every user with a special identification number for the sure security of the artwork, so with time, more people will join if they know that their creative is safe and it can yield them money.

Conclusion

In conclusion, I must thank the professor for this particular work, though, I had little knowledge about NFTs, but now it has been broadening. Knowing that NFTs are a marketplace that enables us to buy and sell our creative ideas which might come in terms of artwork such as music, Gif, drawings, paintings, and more. I am a very creative person, I am looking to start selling my ideas for more money and this is one of the futures of the NFT market. Because many more people will come into the market just like me.

Cc: @imagen