Hello people, how are you today? I hope you're having a fantastic week. I'm glad to be a part of this wonderful lecture. In this article, I'll share my experience with NFT Markets.

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The blockchain sector has been swept by Nifty Gateway, a one-of-a-kind NFT marketplace. The system mixes encryption and collectible art to create a wide range of larger, transferrable commodities, bringing up an entirely new world of financial possibilities. We'll get above what Nifty Gateway is, what it can trade for, and the platform's strengths and disadvantages in this review. We also provide instruction about how to use the system and what to buy.

Question 1

Describe in depth the Nifty Gateway platform: Who are its founders? What market or target is it aimed at?

Description.

Nifty Gateway is a cryptocurrency exchange that allows non-fungible assets to be purchased and traded (NFTs or Nifties). An NFT is a virtual asset that's also maintained on a data structure called the blockchain. NFTs are similar to cryptocurrencies in that they will be recorded in this way, but they can be any form of commodity, such as an artwork, an audio file, or a video game, so they are non-fungible (i.e. they are not interchangeable).

A centralized global market is what Nifty Gateway is. This indicates that the platform is under the control of a central system. The platform's management opted to create it a base responsive so that it can function as a controlled digital marketplace where high-quality art can be sold to collectors.

Nifty Gateway just added several new features to the site that make it much easier for collectors to buy NFTs at a price they choose. A price chart, for example, has been introduced to the site, allowing users to examine historical NFT data. A new functionality was also included. Collectors can set price alert, but when the price of NFTs, Nifities hits that level, they will be notified and they will be able to acquire or buy the NFT.

Marketing strategies.

The NFT (Non-Fungible Token) is a commodity you can't hold in your hands yet have complete control over.

NFTs trade for large sums of money, and as a result, they've attracted the interest of investors, art buyers, athletes, and technologists from all over the world. Everyone wants to own an NFT. Regrettably, not all NFTs are worthwhile.

Your marketing strategy, which would have been designed by NFT specialists who build a customer base, attract multiple followers, employ promotional tactics, and to use the platform to push new bids, determines the cost of an NFT. NFTs sell for more money when there are more bids.

Aim

The nifty gateway platform's goal is to make Nifties available to everyone. "Non fungible token" is what the nifty gateway platform stands for. As a result, any platform user can sell their collection and be compensated in non-fungible nifties, so making it accessible as an asset.

Founder

The founders of Nifty Gateway are Duncan and Griffin Cock Foster. These guys are twin brothers who are very talented.

The founders of Nifty Gateway are Duncan and Griffin Cock Foster. These guys are twin brothers who are very talented.
Nifty Gateway Platform was acquired by Germini, a crypto platform, in 2009. The Winklevoss twins, who founded the Germini, have been ardent supporters of cryptocurrency since the invention of bitcoin. According to research, they were one of the first bitcoin investors.

There are four ways by which sales are done on Nifty Gateway Platform. They are:

Silent Auction:

Bidders place a blind bid in this method. After the auction, they will be notified if they have won the asset, NFTs.

Global Offers:

Collectors will be able to communicate with the artist by making an offer. The artist will release the NFT to the collector if they both agree on the recommended price.

Open edition:

The open edition is another way that sales are made on the Nifty Gateway Platform. This strategy entails making NFTs available for a limited time, such as 10 to 15 or 20 minutes, to buyers who really are interested in the artist's work.

Drawing:

That's the latest mode of selling on the Nifty Gateway Platform, in which all interested buyers participate in a lottery to win certain NFTs.

Question 2

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

ERC-1155 tokens

That's the latest mode of selling on the Nifty Gateway Platform, in which all interested buyers participate in a lottery to win certain NFTs.

With ERC-1155, many types of NFTs can be produced with a single transaction. The cost of gas has been decreased by 90%, making it a feasible choice for anyone looking to start manufacturing on the blockchain. The NFT's only notable downside is that it is more difficult to trace in terms of ownership in order to maintain transaction records, whereas ERC-1155 relies on less reliable Ethereum records.

ERC-1155 differs from ERC-20 and ERC-721 tokens.

The ERC-1155 token was developed in reaction to the limitations imposed by the ERC-20 and ERC-721 coins. Due to the lack of a means to resolve these transfer operations in ERC-20 tokens, if people send tokens to the wrong place by accident, they would lose them forever. ERC-20 and ERC-721 are both based on issuing a new contract for each token type or collection separately.

In addition, there is a problem with the incompatibility of ERC-20 and ERC-721 coins. Because many DApps employ several tokens, it becomes rather hard because their contracts are constructed in completely different ways.

These are some of the elements that led to the development of ERC-1155. ERC-1155 also allows any token Identity to design a unique, customizable token type. This can drastically reduce the amount of data required to distinguish one token from another.

Another essential component of ERC-1155 is the Protected Token Exchange. The ERC-1155 smart contract includes a means for checking if the transaction was finished and, if it wasn't, for reversing the transaction such that the author regains control of the tokens.
As a result of its unique qualities, we anticipate to see more efforts embrace the ERC-1155 standard.

Question 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.

The most popular Ethereum Blockchain Explorer, Lookup, API, and Analytics Tool is Etherscan.

First of all, visit this site https://etherscan.io/ and it will look like this. Click on the 3 lines in the upper-right place of this image

Click on the sign-in button and make an account.

Here's after an account has successfully been made

After that, go to again that 3 line menu and click on ERC-115 tokens.

here is a list of the top 5 transactions of tokens.

The top five tokens by volume of transactions in the previous 24 hours are listed here.

Open Sea Shared Storefront (OPENSTORE)

0xa7206d878c5c3871826dfdb42191c49b1d11f466

0xd0ed73b33789111807bd64ae2a6e1e6f92f986f5

Zapper NFT (ZPR_NFT)

Rarible (RARI)

Click on ERC-1155 transfer to get the hash of the most recent transaction.

Select the first option that appears, as shown in the image beneath.

The hash of this transaction is
0x47a6050ed0877cc045e731d71766d01424ed0b696f9578c69902649c358f7e61
and its block number is 13282742 as seen in the image.

Question 4

Enter the Enjin wallet. Describe the functions that it presents in its user interface.

Enjin's most important and widely used use is allowing clients to handle and maintain fictitious goods in online games. These can range from in-game currencies to tokens that indicate interesting game features like weaponry or player stuff.

-First, install the Enjin wallet app on your phone and open it.

after that click on the open wallet and create a wallet and it will look like this.

The top left corner button contains a menu that looks like this, with buttons for Wallet, Assets, Scan QR, Exchange, MarketPlace, DApp Browser, Linked Projects, Contact Support, and Settings.

The top-right Main Wallet button is used to add new wallets to the app or choose from a list of logged-in wallets.

The third button from the top, the contact icon, is for storing frequently used addresses. Each time you press the button, a new layout appears, allowing you to choose an address type, contact address, and a label to identify the address's owner.

Use the plus symbol on the third button from the top to add or delete revealed tokens and coins from the main display.

Backup Wallet, Rename Wallet, Edit Coin List, Auto-add

Tokens, Manage Wallets, and Rate Enjin Wallet is all located on the last button.

The next step is for me to go to Market Place and display the amount of things on sale, as well as the first three lists and their descriptions. Let's take a look at this briefly.
To do so, go to the enjin wallet site and select "marketplace" from the drop down menu or box.

The Enjin marketplace can be accessed through the mobile app's menu button. For the sake of convenience, I used the clickhere URL on my PC for this project. Here's a screenshot of the marketplace's layout/website.

As of the posting of this report, there are 17,485 things for selling.

The top (first) three entries on the list are as follows:

1. Founders token.(27 listing, biding from 1000 enj)
2. Infowars.(6 listing, biding from 1 enj)
3. Golden evanbrook egg(12 listing, biding from 400 enj)

Founders token.

Infowars.

Golden evanbrook egg

Question 5

In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer

Postage stamps, playing cards, and now Booster packs have all been popular for a long time, and these commodities, like everything else, will very certainly be digitized. Please keep in mind that practically anything can be marketed as an NFT, including paintings, melodies, artificial intelligence, and blogs.

Because NFT market is so new, it is still quite immature, and there is a lot of rubbish inside, such as bizarre and pointless decals or tweets from total strangers.

NFTs should continue to develop and become more widespread in the lives of young people because of the function they serve, which is backed by the powerful and noticeable qualities of blockchains. Due to the reduction or elimination of formal paper procedures in some cases, artists of all levels have a monetary value for their efforts. Celebrities and huge corporations embrace innovation on a daily basis.

NFTs have sparked a lot of interest among game developers. NFTs can be used to track who possesses what's in-game, drive in-game marketplaces, and provide users with a range of other benefits.

Many games allow you to buy items to use in your gameplay. However, if the object was simply an NFT, you might be able to recoup your investment by selling it after the game is finished. You might make money if that item becomes more popular.

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More people are adopting NFTs and, as a result, generating their own NFTs for public sale. As a result, there is no question that the NFT marketplaces will continue to grow and draw people from various walks of life.

In reality, NFT markets are competing with crypto markets this year due to the large number of well-known persons who have invested in NFTs. With the increased acceptance of NFTs that we have observed, I am confident that more individuals will adopt NFTs, making existing NFTS markets more popular and even generating new NFT markets.

Conclusion

NFT Markets is an online platform where digital tokens like as art, must collection, and other digital wallets may be purchased and sold. As a result of the increased usage of NFTS, NFT markets will become more popular over time.

Professor @imagen deserves credit for bringing this forward. The topic has taught me a few of things. I was able to learn about the Nifty Gateway Platform, its founders, and how it works. I was also able to investigate enjin wallet.

cc : @imagen

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