Crypto Academy Week 12 | Homework Post for @levycore

Hello every one welcome to another home work in this week 12 homework from the lecture of @levycore who discussed about Buying and Selling NFT so without waisting your time let's dive into this home work to try and finish it.

What are NFTs
NFTs are non-fungible tokens which means they are not like Bitcoin or Ethereum but they are tokens that represent Artworks, music and games that can be trace to the creator so to discourage piracy.

This non-fungible tokens undergo verification processes in the ethereum block chain ERC-721 token to get the assets tokenized on the blockchain and have the assets special to the owner alone. NFTs has got rid off the wrong use of other peoples original invention, protect the invention for the owner, add value to it and makes it more durable as it last longer for so long and years to come.

NFT MARKET
NFT market can be defined as a market were you can fined NFTs through buying and selling in this case can have their own NFTs presented after going through the ethereum blockchain so that it can be purchased, NFTs marketplace permit clients to include value to their special asset and monetize the tokenized computerized asset. There are numerous NFTs market accessible at the minute and a few are, Cryptokitties, Rarible, SuperRare, OpenSea, AtomicMarket, Establishment, BakerySwap and numerous more. In this article, I will be explaining CryptoKitties market place.

CryptoKitties Marketplace

This is a market place which was developed in 2017 by Dapper developers and it is an ethereum based platform that support games, Cryptokitties is gaming platform which allows players to own their unique digital cats and add value to it by monetizing their kitties, This platform has made it possible for players to make money by just playing the game unlike the old ways of playing were by players only play games for fun.

Cryptokitties allow users to create their own virtual cat, develop it and sell and also you as a player can buy virtual cat from another player then breed it and monetize it later The point to note here, each virtual cats have their identity traceable to a unique owner which could not be taken by another person or duplicate it in any way.

How does CryptoKitties work?

It is a breeding plus buy and sell platform on virtual cats but i am going to explain it in details for better understanding.

Breeding of virtual Kitties:
Breeding of kitties in cryptokitties is the process whereby players are allowed to breed cats from the scratch and the process of breeding, players can also choose different features they want their virtual cats to exhibit like genes, cooldown speed, cattributes Etc, The players can also choose the physical feature they want their cat to exhibit like genetics and so on kitties remain unique and can't be duplicated

Buying Kitties in Cryptokitties
This can be described as getting virtual kitties on the gaming platform. Players can get the cat the want from other players on cryptokitties and that makes the bought virtual cat theirs. The recently bought virtual cats can be adjusted and be exchanged at will thereby empowering players to make money while playing the game. You'll purchase the virtual cats utilizing "Ether" which may be a local cryptocurrency of the Ethereum blockchain.

Selling Kitties In Crypto Kitties
Kitties that belongs to a interesting player can be sold to win cash through "Ether" on Cryptokitties gaming stage. Virtual cats put for deal can be the ones bred by the player, or the ones bought and altered by a player and chooses to monetize the virtual cats to create cash whereas playing the virtual cat game on Cryptokitties.

Why I choose Cryptokitties?

As a game player and owner cat, I see cryptokitties gaming platform as a extraordinary place for me to create special virtual cats and monetize the digital assets. And for the reality that the assets stay a one of a kind asset with the identity traceable to me alone, have fun whereas playing game and make cash even in the process of having fun

How to Buy (Virtual cat NFTs) on Cryptokitties
For this reason, I will be investigating cryptokitties.co official page through the Metamask moblie wallet which is an Ethereum blockchain-based wallet. This will begin by launching the Metamask wallet.

• Launch The Metamask app
• Click the Browser from the option in the app to find the Dapp
• Then, visit cryptokitties.co/.
• On the first page of cryptokitties, select Get your own Kitties.
• Connect wallet.

• You are now in the cryptokitties select my kitties, scroll down the page and click on Get your first cat to access the market place.

• At the marketplace, I found a brown cat that i loved with the name Susi Meanmoo owned by Malfoy Mats.
• I decide to purchase it. It's worth 0.0144 ETH at the moment.

• This is the time to Buy the cat with ETH to complete the process. I couldn't finish the transaction because of insufficient ETH balance.

How to Sell (Virtual cat NFTs) on Cryptokitties
Having secured how to purchase cryptokitty over, you must have at least a virtual cat in your collections to be able to sell such asset. Presently in this case, I chosen to move to a tutorial on how to breed virtual cats.

• Firstly breed the vitual cat to your own liking

• If after you have bred the cat successfully then you will have virtual cat available for sale

• Then click to cryptokitties market place to put it for sale there so that it can be advertized and add the prize tag in Eth and it should be sold

• This image below is how a collection of virtual cat would look like.

Merits of Cryptokitties

• It gives credit P2P trading platfome
• Collectibles are Monetized meaning you can have fun playing and collecting cats and still make money from them
• It offer users the ability to create virtual cats that has their unique origination to the original owner which cannot be duplicated.
• Cryptokitties corrected the traditional practice whereby only game developers earn and make it possible for the players to also make money.

Dmerits of Cryptokitties

• Transaction on this platform are more costly
• Scalability is another disadvantage of Cryptokitties as the gaming platform transaction speed is really slow which often lead to failed transactions as stated abovd.

Conclusion
I think Nfts are not in a bubble because platforms like this are what game lovers have been praying for all their lives and now it's here.