NFT Markets - Crypto Academy S4W3 - Homework Post for @imagen
Hello All...
This week I will try to join professor @imagen's class, this week's lesson on NFT Markets.
Background from canva
1.) Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at?
![1.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSuhPVcmdmJDN5SugYhRNmuu3UnjbxB8Z22vcAD6ADX3y/1.jpg)
Nifty Gateway is one of the most well-known NFT trading and auction platforms, this platform was founded by Duncan and Griffin cock Foster in 2018, after that the company was bought by Cameron and Tyler Winklevoss, On the Nifty Gateway platform you can find various kinds of NFT works that auctioned off as high-quality artwork, video, and audio.
On the Nifty Gateway platform, many works of art have been auctioned, this platform also involves famous artists and artists. all NFT works that are auctioned on Nifty Gateway have been selected by the Nifty team, this is all aimed at maintaining the reputation of this platform.
Nifty Gateway has several transaction mechanisms such as Auction, general trading, and trading via lottery, and this platform can be carried out with various types of transactions such as transactions with ETH wallets, debit/credit cards, and others. in Nifty gateway, you can find some features that you can see on https://niftygateway.com/ let's see one by one.
Drops
![2.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdj4SAz8uZgKnvKftLkjBWLRB5BS9n2G7gF8kYHb8djfY/2.jpg)
In the drop feature, you can see the schedule of NFT that has been released along with the artist, this provides information to users about the date and time the NFT was released.
Marketplace
![3.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmcfgS7ULFgNVZC5AvpcSrH29twSCEPVaPL9KKttwjBz2R/3.jpg)
In the marketplace you can find various kinds of NFTs that are registered to be traded, this provides information about NFTs sold on the marketplace along with the prices listed, and you can also see various categories of these NFTs.
Activity
![4.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmS1CcKKpKhoi9ay36mnRMwZSv3LrdqSRX6cpCQZasR3ep/4.jpg)
In Activity, you can see every transaction activity on this platform, so that users can find out the bidding activity on the NFT so that the transaction process will be known by every user who wants to contribute to participating in transactions on the NFT.
2.) What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens
![ERC-1280x720.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmb5eAwX2fHqBVdU1p7RqxSdDx735KxGa4hennhLEXABak/ERC-1280x720.jpg)
The ERC-1155 token is a type of the token issued to overcome the shortage of ERC-20 tokens and ERC-721 tokens, so the ERC-1155 token can be said to be a combination of the ERC-721 token and the ERC-20 token. The ERC-1155 token is also called multi-token, so this token is very suitable for transactions compared to the two previous tokens.
The ERC-1155 token fixes the shortage of ERC-20 tokens, one of which is that when a delivery error occurs, the ERC-20 token will lose the funds. while the ERC-1155 token has resolved the issue with the ERC-20 token where the transaction can be canceled and can refund the wrong transaction.
The ERC-1155 token also fixes the ERC-721 token's lack of transaction speed, because the ERC-721 token cannot conduct mass transactions. so that when doing many transactions this token has constraints on time efficiency when doing many transactions, while the ERC-1155 token overcomes this problem by allowing many transactions at one time so that it saves costs and time.
So it can be said that the ERC-1155 token plays an important role in the NFT world so that users are more secure and comfortable in using this token. with several advantages provided by this token such as smart contracts that can manage multiple transactions at once.
Here are some of the advantages of the ERC-1155 token compared to the ERC-20 and ERC-721 tokens:
The ERC-1155 token can refund the wrong transaction, while the ERC-20 and ERC-721 tokens cannot solve the problem
The ERC-1155 token can perform multiple transactions at one time while the ERC20 and ERC-721 tokens cannot perform multiple transactions.
The ERC-1155 Token has a lower transaction fee compared to the ERC-20 and ERC-721 Tokens.
The ERC-1155 token saves more time when making transactions. because it has transaction speed and can do mass transactions at one time
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
Alright, let's visit etherscan.
- after being on the home page of ethersan let's take a look at "Tokens". then select "ERC-1155 Top Tokens".
![1.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdfoETimz5z1xKWJtuxyHNKBDMQegLuThhspSh49XXYfu/1.jpg)
- After that we can see the number of ERC-1155 tokens. and top tokens by volume of the last 24 hours
![2.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmNwzxTkonfPfWX82QMorHh7FGVUBrTgURUfvemnu3i51b/2.jpg)
at the time I visited etherscan the total ERC-1155 tokens was 18,273. and we can see the top 5 tokens based on the volume of the last 24 hours as below:
OpenSea Shared Storefront (OPENSTORE)
0xa7206d878c5c3871826dfdb42191c49b1d11f466
0xd0ed73b33789111807bd64ae2a6e1e6f92f986f5
Rarible (RARI)
Zapper NFT (ZPR_NFT)
- After that let us check the hash of the last transaction. let's click "Tokens", then click "View ERC-1155 Transfers".
![3.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmR4AHDESmhitLynHtURcYYqf49TeKMtoxQPgGcMXXVqWg/3.jpg)
- After that, let's visit the last transaction to see the details of the transaction.
![4.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmTW1GuErey33gogweSf78ceWSvJiHJQNfLvHhgmeGGbJ9/4.jpg)
- And we can see the details of the last transaction as shown below.
![5.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmScbPWjfHAC754HmQvxVdw5DB974gCWbUbDj2qbsGBZpE/5.jpg)
The last transaction details :
Block : 13281046
Transaction Hash:
0x22022721651f07f7ef4ffcf9572e933b34ed7c13dbc907a2807418e82adb7e07Contract : 0x7be8076f4ea4a4ad08075c2508e481d6c946d12b
4.) Enter Enjin wallet. Explain the functions it offers in the user interface. Enter the Marketplace: specify the number of items for sale, the first 3 items in the list, and their descriptions. Show Screenshots.
Alright let's visit Enjin
![1.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSWqYkcKs9NBZ8DSpRMh8h1aui2xrqPT3Ub1WTCMSdRs8/1.jpg)
The Enjin platform has several main functions offered to its users, such as creating, conducting transactions, and storing NFTs. We can find all of this in the features found on the Enjin platform. let's scroll down to see some of those features
Product
![2.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmUNjm9G6B23aY5LxFzBnUYqexd49m3w9RsYuCxtEdW6hu/2.jpg)
on the product, there are several options that you can visit such as wallet, platform, Marketplace, Efinity, and jumpNet. these all have their own uses and functions such as when you want to save NFT you can visit the wallet.
Use Cases
![3.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmZi7JpJd1eGA6msKH74ZyrHDE2SxtefmJiJWrT8EvxGaU/3.jpg)
In Use Cases there are choices for Gaming, art, Collectibles, and music. you can see according to your needs in this feature.
Resources
![4.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdoEMHbqoJ79DKpeumxswRe1d7gjHr2XcsiNCaT86Pbos/4.jpg)
on resources, there is a choice of blogs, showcases, newsrooms, press kits, timelines. Here you can find more information such as reading on the blog.
About
![5.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmavisi4mhSbTFVQZTKZWWwMDVGW6dievq4DEy39KKC5h6/5.jpg)
In about, there are Company options, coin engines, standard tokens, careers, and contact us. Here you can find information about engine platforms such as company information.
Support
![6.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmSbpJVT8ri1RGZUegWpLWw3kYJU1beopHtuzavVeBcJ5V/6.jpg)
In support there are help center options, submit a ticket, request a feature, and product status. here you can ask for help if you have problems with the engine platform like in the help center.
- Now let's visit the Marketplace, then when a new page appears click explore Now
![7.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQgfEsfrUbm2QYW3jXBW2sJvEF4hL1bRUwaJg4S17RsMq/7.jpg)
- Then on the Marketplace page, you can see 17,482 items are on sale.
![8.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmTF9Y8ZzLimHz63dZiahUhkHhCD7H1NVz7BDdKui24DDF/8.jpg)
- Now let's see the top ranking from the Marketplace
![9.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmQJfy5Bb9DhVYZgDCA7xTZjv16RGAD2wFs56x8bFgqfKC/9.jpg)
Lost Relics
![16.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmNemBbtU5EKf1qxxKkxBfRVnpyHmi968g6pKU8BUJeJuP/16.jpg)
You can see a description of Lost Relics and detailed information about the game. like the game Lost Relics has been listed in 2,130 marketplaces, the game was created on April 16, 2019, and you can also see the assets for sale.
Age of Rust
![17.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVr5C1qZJ4t59Pc9RvCH4pmjjid3TkmWLBAGLJ4rgkJ5x/17.jpg)
you can see the description of Age of Rust and detailed information of the game. such as the Age of Rust game that has been listed in 161 marketplaces, the game was created on January 29, 2019, and you can also see the assets for sale.
The Six Dragon
![18.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdcRrzuw2Fj4iPLLsF7eb4ZqnSpSyyftYzdwGKuVVErCE/18.jpg)
you can see the description of The Six Dragons and detailed information about the game. like the game The Six dragons has been listed in 941 marketplaces, the game was created on April 15, 2019, and you can also see the assets for sale.
5.) In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer.
The NFT market has very good potential in the future because the NFT market has grown very rapidly to date. we can see the development of the NFT market, for now, has moved in various sectors such as games, arts, music, and others. the involvement of famous artists and artists also affects the NFT market. so that with so many famous artists and artists it can attract every art, music and other art enthusiasts.
as has happened at this time very many platforms have supported the NFT market so that the NFT market can develop further. there are many works of NFT that have been sold in the market. this proves that the NFT market has many enthusiasts who want to contribute to it.
![5.jpg](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmYJek9HfoSSXGXSLThwcHtA2JPpeJWMUCUmRHkVCRsuDG/5.jpg)
source
the artists and artists also have the passion to work, because their work has a selling value and has been supported by the NFT market. so it can be said that the existence of the NFT market benefits many parties. enthusiasts and creators of work have a place to be able to make transactions with each other. so that more and more parties are involved in the NFT market, then I believe the NFT market has enormous potential in the future
Conclusion
The NFT market has grown to date, there are many platforms that provide and facilitate NFT trading such as Nifty Gateway, open sea, and others. with so many platforms supporting NFT trading, it's easier for artists, artists, and people who create other works to trade their work. so it is very helpful for users to make transactions in it.
The ERC-1155 token is a multi-token combined from the previous tokens, namely the ERC-20 and ERC-721 tokens. The ERC-1155 token also has many advantages because it has corrected the shortcomings of the ERC-20 and ERC-721 tokens so that these tokens are more efficient and effective in carrying out transactions, for example, the ERC-1155 token has higher scalability in conducting transactions, making it more efficient cost and time.
Gracias por participar en la Cuarta Temporada de la Steemit Crypto Academy.
Continua esforzandote, espero seguir corrigiendo tus asignaciones.