NFT Markets - Crypto Academy S4W3 - Homework Post for @imagen
Is my pleasure to participate on this particular topic on NFT Markets which my dear professor @imagen has shown and done alot of work to teach us on this topic and to take us to the next pedestal.
Meanwhile i hope you find my homework interesting.
QUESTION ONE
1.) Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at?
To describe Nifty Gateway in depth we have to look into Different dimension.
Therefore Nifty Gateway is known as a centralized platform whereby buying and selling of non fungible token know to be (NFT or Nifties takes place, meanwhile The NFT token is digital token that is registered on a blockchain. Also is similar to that the cryotocurrencies. Which are recorded in form of assets, art, music and games an the fungible token (which are not interchageable).
Nifty Gateway is companied by the parent company Gemini LLC, is a cryptocurrency exchange website with his twin founder Winklevoss brothers. Gemini is a new york a recognized company with a valuation at the range of $774 million to $1.2 billion as nifty sales volumes which was recorded in the recent month.
Nifty Gateway is unlimited market place kept for music and artwork, which was curated by the Nifty team with collaboration with sports
Like the the football, the NBA and Nifty Gateway trading.
Meanwhile we can have Nifty in our possession by having an account with some found in possession. NIfty Gateway has a few purchase methods. These vary between drops of Online Silent Auction, Drawing, Open Edition,Global Offers.
The Nifty Gateway generates it revenue from the loyalties percentage of th sales made with the secondary sales acquired from the market.
PROS OF NIFTY GATEWAY
•The Nifty Aesthetic
This is one of the biggest factor behind Nifty Gateway when compared with marketspace, Rarible
Meanwhile the NFT platform which has it's own artistic vibe, like gallery specialize on art and also it has a unique collections created by exclusive artist.
•Exclusivity
Nifty Gateway has it's selling point on exclusivity, meanwhile as u join Nifty you know you’re getting the pinnacle of NFT artwork vs marketplaces such as Opensea which allow anyone to list an asset
Therefore Gateway is nice to make choice in purchasing NFT for any investment.
CONS OF NIFTY GATEWAY
•NFT Heist accounts on Nifty Gateway can be strucked by hacking thousands of dollars of artwork has been stolen in the past.
•Environmental Impact
Disadvantages of this blockchain technology is that is costly for the environment, based on the real world energy used in process just a single Ethereum transaction is high. Which can result for an expensive gas fees.
• Only US Based payment:
Meanwhile this is trying to tell us that is only banks in US can make use of it for withdrawal, aside those using the crypto to withdraw founds which blocks non-crypto international investors.
Who are its founders?
Base on documentary the Gemini Trust Compny (Gemini) is a cryptocurrency exchange platform where buying and selling of cryptos, bitcoin, bitcoin cash, ether, zcash and litecoin takes place and as well storage. This is based in new york company that is under the influence of capital reserve reuitements, cybersecurity requirement and banking compliance standard. Gemini was founded in the year 2014 by two brothers Cameron and Tyler Winklevoss.
What market or target is it aimed at?
As regards to the question in quote there main market target as follows.
• is to make sure that their nifties reach a billion people.
Due to this they...
•Launch a new Gateway designs which beautify the interface for the creator or collectors.
•To give Nifty Gateway the best and they overhaul UI and UX in the NFY space and to top Silicon Valley design firm Metalab.
• There design is to unleach the power of the Nifty, Gateway community which allows you to buy and sell and even resell Nifties
• There focus is to build elements that foster liquidity and discovery which will help creators to reach out greater audience.
•There market target is to focus on art work music nft which are curated platform for trade.
QUESTION TWO
2.) What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens?
NOTE: ERC IS AN ACRONYMS OF "ETHEREUM IMPROVEMENTS PROPOSAL"
ERC-1155 token is a unic token which is support the fungible and non fungible tokens which is observe to be fast in making token transfers, this was initiated by Enjin which is expected to be the next generation multi token standard.
The ERC-20 is used in building fungible tokens that are made for transactions, therefore the bad side of this is when ever the token is sent to a wrong address which means that one is lost with no trace.
The ERC-721 is a standard in creating non fungible token (NFT) also the bad side of this is when ever there is a large transfer it goes along with a huge cost due to the gas consumption.
ERC-20 and ERC-721 due to the their individual differences is quit difficult for them to operate in this same smart contract.
Therefore the ERC-1155 is a standard and is serving for the both between ERC-20 and ERC-721 and it has the capacity to accommodate the two tokens in one address.
QUESTION THREE
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.
Login to Etherscan. Please indicate the number of ERC-1155 tokens in existence at the time of writing your assignment.
Therefore the total number of Erc-1155 available as of the period of doing this home work was 18,128
Screenshot shown below
NOTE: PLEASE USE DESKTOP VERSION TO VIEW OUT THE TABLE WELL IF YOU ARE USING MOBILE PHONE
Indicate the first 5 tokens by volume of transactions in the last 24 hours are as follows in the table below
| S/N | LIST | VOLUME |
|---|---|---|
| 1 | OpenSea Shared Storefront (OPENSTORE) | 9,741 |
| 2 | (0xd0ed73b33789111807bd64ae2a6e1e6f92f986f5) | 3615 |
| 3 | Rarible (RARI) | 567 |
| 4 | 0x20178cd7721fdfc1fda815dd03acc809b82e9e40 | 365 |
| 5 | Woodies Mint Passport | 313 |
Indicate the Hash of the last transaction carried out and the identification of the token as well as its smart contract. Show Screenshots.
The transaction was done on opensea
The transaction hash
0xf9f971581c56230758cca4195e2c0611508dd0b681cd786244a2c3db1105ef11
The smart contract opensea
0x7be8076f4ea4a4ad08075c2508e481d6c946d12b
Token ID
108008261493030159404499668027575739692316608613555236388688109535281442455553
QUESTION FOUR
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.
Enjin wallet is a wallet that is made for all kinds of cryptocurrencies like that of BTC, BNB, ETHER and many more. Therefore the wallet can run on this tokens ER-20 and ERC-721 where RRC-1155 is a based wallet meanwhile crytos and NFT can be save and store this wallet.
The interface of Enjin wallet
BRIEF DISCRIPTION OF THE INTERFACE
•ASSET
This is known to be the store, where by all the collectibles are kept for safty.
•QR SCAN
This a encode seedphrase which give you permission to website, game etc.
•EXCHANGE
This a platform where where the swaping of cryptocurrencies takes place in repect of exchange of your belongings (asset).
•MARKET PLACE
This is the NFT market where NFTs can be bought and sold as well.
•DAPP BROWSER
This is a search engine where by application and programs are being searched and accessed.
•LINK PROJECT
This is all about the personal project which may be in tend to connect to the portal.
• SETTINGS
This a feature where by the wallet and the user's operation can be sent up and as well configure in a suitable manner.
Enter the Marketplace: indicate the number of items for sale,
As of the time i open the wallet to acess it i meet the total number of items of 17,489 for sale.
1st( uncertainty )[skin]
2nd (TGCW- Planum pack)
3rd (Crystal Rosin)
QUESTION FIVE
5.) In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer.
As regards to the question we all know that world is moving fast and digital in terms of technology and others.
But base on the the future of the NFT market is strongly believe the future is better for it, in the sense that the market will continue in progress.
Therefore it was known that various big stake holders are already investmenting on this which is a great lift for it, which means it can't slake back due to the upper hand in it.
Another reason to back my point up is for the fact, it is a blochchain where this games and others are utilize always.
The most important interesting part of it is that sport like foot ball and NBA are already taking charge of the NFT and even institutions, all this sectors will enhance the performance of the NFT in near time to come.
Therefore the future for NFT is quit bright fot it, as it is now showing signs of germination now which will definately blossom in the nearest future.
CONCLUSION
As regard to this topic on NFT markets as regards to NFTs gateway.
The NFT is all about the artiistic work in which actually involves the buying and selling of the asset in possession.
Mean while the daily development in the NFT is signifying that the future is bright for the latest innovation which have a lot of advantages around it with minority disadvantage on Security which stands to be the major challeges facing NFT.
Also i was able to do justify the fact that ERC-1155 was an upgraded version of Er20 and Erc 721 in a smart contract, also i created a Enjin wallet for ERc-1155 wallet of which the asset can be save whether fungible or non fungible, also the wallet serves as search engine to Dapps as well.
THANKS FOR READING..
My Regards To:
@imagen
Gracias por participar en la Cuarta Temporada de la Steemit Crypto Academy.
Continua esforzandote, espero seguir corrigiendo tus asignaciones.