![Screenshot_20210915-071705_1.png](https://cdn.steemitimages.com/DQmWocuY97GGtt7nU25cr731CgRQvzu8i8AvBGYQaRCpMTH/Screenshot_20210915-071705_1.png) [Image source](https://images.app.goo.gl/ois4Kw1fba2ujFnCA)

Good day professor @imagen. Thank you for delivering such an erudite lecture on the topic **NFT markets** and below is my assignment post in response to the following questions: ![image.png](https://cdn.steemitimages.com/DQmaxZUBoiigN2KZcPtiDMA26wZDVaXmNjAJGWZS8GgPCqG/image.png) # 1.) Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at? Firstly, the Nifty gateway platform acquired by Gemini LLC company is one of the top leading platforms created for transacting and storing Non-fungible Tokens (NFTs) and it is built on the Ethereum Blockchain. Non-fungible Tokens are non interchangeable and unique unit of data used to certify digital assets. NFT are unique token that can also use to facilitate payment for products and services. Global investors have discovered and stayed with the NFT possibly because of its value. That being said, Nifty gateway platforms are digital marketplaces incorporating investors of NFTs who are willing to sell at a given price, collaborating with third parties to give out the NFT to members of the public. The Nifty gateway platform is in partnership with brands and top artists for the purpose of selling and creating NFTs. The Nifty gateway platform is targeted at providing top notch digital collectibles to Nifty collectors who are interested. The platform is quite different from any other NFT platforms because it is artist exclusive meaning that such platforms exist in collaboration with brands and top artists. Also, users of this platform can purchase Nifties using their debit/credit card. Another interesting feature is that of market Intel which makes room for details update about specific Nifties as well as the overview of top ranked Nifties. Also, users can view price graph and scroll through its price momentum. Nifty gateway is an exclusive platform specifically reserved for music and artwork and is being curated by Nifty team. This platform is in collaboration with renowned world artists and it is the best platform to trade NFT through the Ethereum Blockchain to host NFTs. **Here are few advantages of Nifty gateway platform** - User friendly: Nifty gateway platform has the biggest Advantage of ease of use for beginners. This means that beginners can easily get acquainted to the platform as it is very easy to set up account and then make payments using credit cards. - No rigorous processes: There is no such protocol as setting a crypto wallet up, crediting it with Ethereum and paying extra gas fee as long as payment is made with credit card. **Disadvantages of Nifty gateway platform** - NFT heist: The fact that it is not connected to ones personal wallet, makes it susceptible to hacking. - Accepts US based payment: Withdrawal is basically done using only Banks in the United States. Sales on Nifty gateway platform can be carried out through the following ways: - Drawing: By this method, collectors tend to acquire particular NFTs by entering lottery. - Silent auction: This method incorporates bidders and from which Nifties are displayed for sale. - Open edition: Through this method, collectors who seem interested in any artwork obtain nifties which are made available on timely basis of 10 to 20 minutes. - Global offers: Through this method, collectors tend to make offers to artists and when they both reach a consensus, those artists releases the particular nifties to the collectors. **Who are its founders?** The Nifty gateway platform was founded by train brothers Duncan and Griffin Cock Foster known as winklevoss brothers but was later acquired by Gemini LLC company a crypto exchange company controlled by New York State Department of Financial Services. **What market or target is it aimed at?** The main Target of Nifty gateway platform is to get nifties across to all users and has vowed to keep on circulating nifties until it hits billion collectors. The Nifty gateway is specifically reserved for the music and artwork brands curated by the Nifty team. This points more on why it is in partnership with world top artists. ![image.png](https://cdn.steemitimages.com/DQmaxZUBoiigN2KZcPtiDMA26wZDVaXmNjAJGWZS8GgPCqG/image.png) # 2.) What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens?

![Screenshot_20210921-220611_1.png](https://cdn.steemitimages.com/DQmWRRmAvapeDGMry5LxNz7qpxNzqyZaDLoUaBF8yP9tACB/Screenshot_20210921-220611_1.png) [Source](https://images.app.goo.gl/QoubwAJdi2fvCRqx5)

ERC-1155 is a unique token built within the Ethereum Blockchain which has the ability to modify DApps landscape basically using its multi-token capacity. The ERC-1155 token supports both the fungible and non-fungible tokens and it facilitates speedy batch token transfers. One exciting feature of this token (ERC-1155) is that it has the capacity to make multi types of NFTs using a single contact. Another important fact to note is that the ERC-1155 was created to make adjustments or cover up for the defects of ERC-20 and ERC-721. **Differences between ERC-1155 and ERC-20 and ERC-721** - The ERC-1155 differ from ERC-20 and ERC-721 in that the later had weaknesses and for this reason was the former created to cover up for its limitations and weaknesses. - Moreso, while ERC-20 token is specifically made for fungible tokens and ERC-721 created for Non-fungible Tokens, there is ERC-1155 which is created for both fungible and non-fungible tokens. - Talking about efficiency and effectiveness, ERC-1155 has that characteristic more than ERC-20 and ERC-721. This is because, having a blend of both feature it does not heed to any rigorous protocol in running transfers this is because it accommodate multiple transfers at a time unlike the two others that transfers one by one or even in batch . - ERC-1155 token has the capacity to create assets ranging from currency to art, gaming and so on of which the ETC-20 and ERC-721 do not possess this attribute. - The gas fees required in running transfers in ERC-1155 is lesser when compared to ERC-20 and ERC-721. ![image.png](https://cdn.steemitimages.com/DQmaxZUBoiigN2KZcPtiDMA26wZDVaXmNjAJGWZS8GgPCqG/image.png) # 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. Now let's visit the webpage and click on **Tokens** ![PicsArt_09-22-08.00.14.jpg](https://cdn.steemitimages.com/DQmdhZjBFZLYBmXuW8YBwm9MEcjxm8GZ9VgSiXVPB88hP5d/PicsArt_09-22-08.00.14.jpg) Upon clicking on Tokens, another page will pop up and out of the options, click on **ERC-1155 top tokens**. ![PicsArt_09-22-08.03.00.jpg](https://cdn.steemitimages.com/DQmNLpmFsPqy6KZgtXGTuRWSyr8eKe8XggfmNKbdVp1DzmS/PicsArt_09-22-08.03.00.jpg) Upon clicking on the ERC-1155 top tokens, another page will pop to see the number of ERC-1155 token in existence as stated in the assignment. And as at the day of writing, there were 18,152 ERC-1155 tokens in existence as seen below. ![PicsArt_09-22-08.06.00.jpg](https://cdn.steemitimages.com/DQmZnsnAjhswB9LzMsHRqFGFGGxARSVSkuUFAP6biRu74sr/PicsArt_09-22-08.06.00.jpg) Next thing is to explore the first 5 tokens by volume of transactions in the last 24 hours. ![PicsArt_09-22-08.09.04.jpg](https://cdn.steemitimages.com/DQmXbM8pU1Y1ovhBJNXKEbXbsCrzy17bYYjknamXgpmx91r/PicsArt_09-22-08.09.04.jpg) Next is to show the **hash of the last transaction** and to do this, you need go back to **Tokens** and click on the last option which is **View ERC-1155 transfer** ![PicsArt_09-22-08.12.00.jpg](https://cdn.steemitimages.com/DQmYqHfWyGJHQ473ztPEkKC6Mow2dakcoo3bmiBzCQWCANR/PicsArt_09-22-08.12.00.jpg) Upon clicking on that **View ERC-1155 transfer**, you will see lists of transactions and the last transaction, I mapped out with a red rectangular box as the assignment requested. ![PicsArt_09-22-08.16.48.jpg](https://cdn.steemitimages.com/DQmYYMGNJHwf5SYuNC1ymmwUSuX2TW3dYoNCE2gim7yyUGo/PicsArt_09-22-08.16.48.jpg) Going further, I clicked on the last transaction to view other details like hash, contract, token of the last transaction. ![PicsArt_09-22-08.20.41.jpg](https://cdn.steemitimages.com/DQmZBPujZkjB8hs5feYYLwvXG76ADq8WMVoJnC8mMaJD291/PicsArt_09-22-08.20.41.jpg) The hash of the last transaction is represented in the first rectangular box, and contract address is box. ![PicsArt_09-22-07.48.32.jpg](https://cdn.steemitimages.com/DQmeMeP6Bgf5qFemfgT7nA9J8tfRRSsUJGhR1bRzAbdcQ7Q/PicsArt_09-22-07.48.32.jpg) Because the last transaction was carried out 43 seconds ago, the value was still null and so it was with other details. Also, I clicked on the last box which is indicated by **Token Transfers** to get more details. ![PicsArt_09-22-08.22.08.jpg](https://cdn.steemitimages.com/DQmUyT7CyQ8zR7z1MVy6P4iK2vY9QJhSrXqXzhz66h9WcoB/PicsArt_09-22-08.22.08.jpg) From the screenshot there are 212 holders of the token as seen. # Note: All screenshots were gotten from etherscan.com website. ![image.png](https://cdn.steemitimages.com/DQmaxZUBoiigN2KZcPtiDMA26wZDVaXmNjAJGWZS8GgPCqG/image.png) # 4.) Describe the Enjin wallet interface. Enter the Marketplace: indicate the number of items for sale, indicate the first 3 items on the list and their description. Show Screenshots. For you to enter wallet, I had to go to play store to play store to download it and then installed it on my device. ![PicsArt_09-22-08.53.32.jpg](https://cdn.steemitimages.com/DQmdws7hUtqjnAGvRKy8r9eqtyZTYt45si9BWUiSrVLZNzb/PicsArt_09-22-08.53.32.jpg) Next, I clicked on the application from my phone and from the first view that popped up, I clicked on **Open wallet** ![PicsArt_09-22-08.54.25.jpg](https://cdn.steemitimages.com/DQmPBZ5LAifKc3w58ZtKFUKfGsPtJr6b5QGquUynCQva9yd/PicsArt_09-22-08.54.25.jpg) A new page opened up from where I clicked on **Create wallet** to create my own wallet since I don't have any existing wallet ![PicsArt_09-22-08.55.19.jpg](https://cdn.steemitimages.com/DQmbyF7QFNmuKujYfNQiC87g9ZqvpQ1q2StEpRcrMmUhW1m/PicsArt_09-22-08.55.19.jpg) From the next page, I clicked on **Back up** and then wrote down my 12 phrases and stored them in my hard drive ![PicsArt_09-22-08.56.51.jpg](https://cdn.steemitimages.com/DQme44M7g7XBZidFYTxAW1xtPWzBEnZ947xGn76uL3eTMMP/PicsArt_09-22-08.56.51.jpg) I responded to have written down those words upon which the wallet homepage opened up from where you will see the 5 features requested in the assignment which is represented on the top of the page using icons. ![PicsArt_09-22-08.58.55.jpg](https://cdn.steemitimages.com/DQmQeEkTPAJWsse3cpzAruytv8L8ts37wniNNi3eour8PmW/PicsArt_09-22-08.58.55.jpg) From the first icon which is the menu icon you will see features Such as wallet, marketplace, scan, exchange, DApp browser, asset etc. ![PicsArt_09-22-09.42.36.jpg](https://cdn.steemitimages.com/DQmaTi7YsnJE4jS4JpyY9qD3FZGhEWEw2PgG1j69C27VmcQ/PicsArt_09-22-09.42.36.jpg) The second icon which is the main wallet icon contains a **Create wallet** option and from there, you will get other options like create wallet, import wallet, and watch wallet from which you can select any option and then confirm. ![PicsArt_09-22-09.43.49.jpg](https://cdn.steemitimages.com/DQmbCudahjgonPiqR39HcqqPo1zXzUb7fjTZ2HsV1NhTv5N/PicsArt_09-22-09.43.49.jpg) The third icon which is indicated with a profile is where you can add contact from, click on it, to visit another webpage, then click on the drop down menu and change any address type and then fill the contact address and name. ![PicsArt_09-22-09.59.29.jpg](https://cdn.steemitimages.com/DQmZGmTMe6LpUN4F3tqeUpPoomxnXuJ6oZzMJhRzr2Zc3qa/PicsArt_09-22-09.59.29.jpg) The the fourth icon represented by this **+** sign is used to add more coins to your wallet to have a close view at all time. After selecting the coins click on update list which is seen below. ![PicsArt_09-22-09.45.01.jpg](https://cdn.steemitimages.com/DQmb55FWg47t495pY73MvWLy4VuccjqaEyneNuaQPuCuJf2/PicsArt_09-22-09.45.01.jpg) Now enter the **marketplace** and show the number of items on the sale and the first 3 list and their description. Now return to the first menu icon and click on marketplace from the pop window below. ![PicsArt_09-22-10.23.32.jpg](https://cdn.steemitimages.com/DQmdrfeTkcPBZ3YFx96gMxxFLQZo4TRvALvXCChWoVWfaUo/PicsArt_09-22-10.23.32.jpg) After clicking, I will be redirected to another page on a browser and from that page, I can view the number of items for sale and as at the day of carrying out this task, items on sale were **17,484**. ![PicsArt_09-22-10.24.58.jpg](https://cdn.steemitimages.com/DQmXGK2BEmbiqQrPsf6XZ8BTwYoZn4dr893ZXbTzbfG5Eir/PicsArt_09-22-10.24.58.jpg) Also, I had the first 3 items on The list specified in the box which are: - Tears of serenity - Uncertainty (skin) - TGCW-platinum-pack. The 3 items had their description of which I will leave its screenshots below. ##### Here is a screenshot of TGCW platinum pack with its description. ![PicsArt_09-22-10.29.08.jpg](https://cdn.steemitimages.com/DQmZDHFobZZ9T7q37gTi8HdgFJVME3tStjN2PfEk2eJvbf9/PicsArt_09-22-10.29.08.jpg) ##### We also have a screenshot of uncertainty (skin) with its description. ![PicsArt_09-22-10.28.04.jpg](https://cdn.steemitimages.com/DQmaPsDRp8pQMh9vv6sQCaZFqdj96EeL3eq7mzUKAH5DA9H/PicsArt_09-22-10.28.04.jpg) ##### And finally we have a screenshot depicting tears of serenity with its description ![PicsArt_09-22-10.26.26.jpg](https://cdn.steemitimages.com/DQmUdiZdKBuu1zCNs8tcEq8RBApREAaahXcH1B4MawAToEq/PicsArt_09-22-10.26.26.jpg) ### Note: All screenshots are gotten from Enjin wallet Application and the first one from playstore app. ![image.png](https://cdn.steemitimages.com/DQmaxZUBoiigN2KZcPtiDMA26wZDVaXmNjAJGWZS8GgPCqG/image.png) # 5.) The future of NFT Markets? And reasons. I am of the opinion that the NFT market targeting artwork, gaming and brands, it will increase its potential in the future as more fields who are into creativity will see reasons to partner with NFT market relying on its uniqueness. And if I am to predict based on the number of global interests we have today, the NFT market will attract more benefitting investments and this will go a long way to popularise the market more in future to come. # Conclusion The NFTs have becomes a core part of the blockchain technology, given artist the opportunity to monetize their art work and the uniqueness of NFT make it special. Though it is relatively new but the level of adaptation is very amazing and encouraging, that is to say that NFT future is shining bright. Thanks and best regards. Cc. @imagen