Wow, I really want to thank Prof. @levycore for this wonderful lectures. I really enjoyed the lectures. With simple words they were well explained.

Now to the assignment

             QUESTION 1

Select the NFT market that you want to try to sell and buy NFTs and why did you choose this market

MY ANSWER

Before I proceed to choosing an NFT market for my NFT Exchange (Buying and Selling). Let me intimate us on what an NFT is.

What is NFT

NFT meaning Non-fungible Tokens are digital asset that exist majorly on the Ethereum block chain. They are called Non-fungible because they cannot be used as a means of exchange like the fungible tokens/asset such as the Bitcoin, Ethereum, Dogecoin, Tron etc.

Now the block chain on which the NFT exist on helps as the token of exchange for the NFTs(collectibles, art, music etc).

NFT Exchange Markets

There are various NFT market places on which buying and selling of NFT takes place. Below are a few:
OpenSea, Crypto.com NFT Platform, NFT Showroom, Enjin Market place, Rarible, SuperRare, TreasureLand etc.

Amist the so many trading platforms for NFT's, OPENSEA terns to be the most popular. And am going to be using it as the exchange platform for my trading of NFT.

Why I choose OPENSEA for NFT exchange.

• OpenSea offers great user friendly features.

• OpenSea offers assets such as collectibles, trading cards, art, Domains, virtual worlds, sports. Unlike others market place that are limited in assets.

• It has been in existence since 2018 and this create alot of trust to trade with the platform.

• Does not just exist on the Ethereum block chain, but also MATIC, KLAY.

• another interesting thing about OpenSea is that it's links up with a external wallet that uses ETH for payment means.

             QUESTION 2

How to Buy NFT

MY ANSWER

• First log into https://opensea.io/ then the page below will come up.

• click on explore, then the page below comes up.

• then select the item you wish to purchase, and the page below comes up.

• click on buy now. And proceed.

• immediately the above page come up, were you need to sign into a wallet. There are alot or wallet you can choose to use, but I prefer the metamask wallet. It's easy and convenient to use.

• after clicking the sign in button, this page come up, so I can verify if am using a phone for the transaction. So I click on continue.

• the above page comes up, were I need to connect my OpenSea platform with my metamask wallet. So I connect and proceed

• immediately I connect the two platforms together, then the actual payment page opens were I need to deposit some Ethureum in order to proceed. But since I don't have sufficient asset I had to purse here.

With the payment successfully made you have purchased an NFT collectible of your choice.

             QUESTION 3

How to Sell NFT

MY ANSWER

• Like the buying process, you also first log into https://opensea.io/
  But then here you click on create instead of export.

• click on create and the page below opens

• you click on sign in and proceed.

• the above page comes up and you click on create.

• you then fill in options in the boxes provided. By providing the collectible you want to sell, it's name and description.

• you then click on add item and the page below comes up.

• click on add item and proceed.

• then select collectible for this new item, fill in the spaces provided by providing the correct information. And click on create to proceed.

• immediately this page comes up were you have to click sell.

• click sell again.

• you then choose the price tag you wish to sale your collectible and proceed.

• at this point a fee is charged so your collectible could be uploaded for purchase.

A successful deposition spells a success in the transaction.

           QUESTION 4

*** Mention and explain the advantages and disadvantages of the NFT market you have chosen***

MY ANSWER

Advantages of OpenSea

• very easy to purchase collectibles on the site. In that immediately you log into the site the different collectibles are displayed for selection.

• user friendly Platform, navigation through the site is made very easy.

• more than one wallet is used for transactions which will encourage users so incase a user does not like a particular wallet type, he/she can always switch.

• collectibles display formate is very catchy, helps expectant buyers have a good eye-feel of the asset they wish to purchase.

Disadvantages of OpenSea

• at some certain point of wallet linking, users tend to experience some linking difficulty, this could be addressed for a better site experience.

• selling method of collectibles seems to be more difficult with too many steps.

• selling of other people's collectibles is very easy on the platform. Because of lack of proper or indept research on the real owner of the items to be sold.

• there is little or no item documentation.

• other views, like the side, front and back view of items to be sold are not required which is not a very selling strategy.

• tracking of collectibles movement is not made possible.

CONCLUSION

The knowledge of NFT trading is a very important one, in that you can purchase collectibles with not a fiat currency but a crpyto asset. And very importantly, traders of NFT Should always be careful so not to fall into the hands of fraudsters, and purchase plagiarized item and get themselves into trouble.

Thank you