INTRODUCTION
Greetings to the entire steemit community and glad to share my homework post again. Previously i attended the class on NFTs and did the homework under it. Today, i want to post my homework on NFT Market after attending the class. Please enjoy the post.
1.) Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at?
The Nifty Gateway is an NFT marketplace where you can buy or sell unique digital art collection and each piece of are is a one of a kind. They are ascribe to the Ethereum blockchain and this uniting digital art collectibles are called nifties by the Nifty Gateway. The Nifty Gateway was founded in 2018 by a man named Duncan Cock Foster and his brother, Griffin Cock Foster
MEET THEM source
Nifty Gateway has a centralized system that reflects a fact that not all industries needs to operate a decentralized system before they can enjoy the beauty and benefits of block chain technology. Which that they can make use of either block chain in a way that suits them.
Each artist minting and nifties issuance in the platform is carefully and critically examined by the nifty Gateway team and they strive make available only the best quality collectibles, for Nifties collectors.
2.) What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens?
What are ERC-1155 tokens?
Created by Enjin is the ERC-1155, a digital token standard that can used to create both fungible (bitcoin) and non-fungible (digital cards and in-game items) assets on the Ethereum Network. In order words it is the combination of ERC-721 and ERC-20 token standards. The ERC-1155 tokens are secure, tradable and immune to hacking, while allowing for more productive trade and bundling of transaction thus saving cost.
How do they differ from ERC-20 and ERC-721 tokens?
ERC-1155 is more like a combination of ERC-721 and ERC-20 token standard. So if a token is made with the ERC-1155 standard, it will have the characteristics of the ERC-721 and ERC-20 token standards. The fact that ERC-1155 reduces gas cost is a reason for artists and gamer to be happy. One restraint suffered by the ERC-20 is that tokens accidentally sent to wrong address in smart contracts cannot be gotten back, It lost and lost for ever. But the ERC-1155 has remedied that situation.
ERC-721 token standard was made specifically for NFTs. Normally, a person will have to send a pack of NFTs to an address individually which costs a lot in gas fee. But thankfully, the ERC-1155 token standard have put an end to that expenses as you can send a sequel of Non-Fungible token and fungible token with just a single process.
Since the existence of the ERC-1155 token is still very new, it adoption will very low as most of the existing tokens are already running in the ERC-721 and ERC-20 standards. One aspect I love about the ERC-1155 token standard is that there is no possibility of losing tokens to wrong address in smart contract as every transaction is verified. If it's a wrong or invalid address, it reverts the token back to the owners wallet.
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.
• To login to etherscan, you need to sign up on etherscan (that is if you don't have an account with etherscan before). To sign up, enter your browser and search for https://etherscan.io and this page will open. Click on signup.
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• Then this page pops, asking you to fill the form below. Try to fill appropriately and remember to verify if you are human or a robot.
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• Below is the next page that should pop up if you have successfully signup and verify your Gmail
To view the number of ERC-1155 token you will click on token as indicated in the picture below
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• As at the time I researched and screenshot my images below were the number of ERC-1155 token that was in existence. There is a total of 18,105 ERC-1155 TOKEN in existence.
This picture also highlighted the first five token by volume of transactions in the lat 12hours.
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• To see the transaction hash of the last transaction, click on tokens again but this time click on view ERC-1155 transfers
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• The next picture will show you all previous transfer that have taken place before my research. A total of 5,183,858 transfer has been carried out.
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• The picture below is the details of the transaction hash and the smart contract is RARIABLE rari token(RAR)
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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.
number of items for sale
As at the time i did my research i found these items as the first 3 items and was listed accordingly
NO 1.
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No 2.
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NO 3.
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5. In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer.
Since am asked my opinion, I will give exactly that.
Many people believe that the who NFT market is standing on the edge of a cliff, waiting for a huge wind to push it. But actually, the wind can push it off the cliff or push it to give it balance either way, am ready to take the risk. Many people failed to mine pi coin as the Internet was constantly filled with negativity but now when it almost late, many have seen reasons to mine the pi coin.
The NFT market will continue to grow because of the back up it has received from different institutions ranging from sports, art work, music artist and celebrities. So many mouth watering testimony that has flooded the Internet.
The NFT block chain technology has given artists a value for their work and has eliminated the need for middle man. The future of NFT is very bright and nobody can change that
Conclusion
The NFT block chain and market is gaining ground in the cryptocurrency world and it will continue to do so as it is the future. The ERC-1155 token standard has been developed and have solved some issues that have been bothering NFT artist and NFT collectors. They wont back out now! Rather they will continue.
Thank you for reading my post. I did some write up when editing my pictures so i will not have to write them again.
Cc:- @imagen
Gracias por participar en la Cuarta Temporada de la Steemit Crypto Academy.
Continua esforzandote, espero seguir corrigiendo tus asignaciones.
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