![nft1.png](https://cdn.steemitimages.com/DQmfHDFL2xtkyUnoeiSLe4S8wWBaSpihqXkfTWTruoJHKV5/nft1.png) [Background image source](https://www.istockphoto.com/photo/nft-non-fungible-token-crypto-art-vector-illustration-abstract-digital-background-of-gm1308900527-398769316?utm_source=pixabay&utm_medium=affiliate&utm_campaign=SRP_image_sponsored&referrer_url=http%3A%2F%2Fpixabay.com%2Fimages%2Fsearch%2Fnft%2F&utm_term=nft) ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) Thank you Prof. @imagen, for your lecture on NFT markets this week. Welcome to a new week and as your regular student, I am here to present my assignment. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) **Assignment Questions** 1.) Describe in depth the Nifty Gateway platform Who are its founders? What market or target is it aimed at? 2.) What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 tokens? 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. 4.) Enter the Enjin wallet. Describe the functions that it presents in its user interface. Enter the Marketplace: indicate the number of items for sale, indicate the first 3 items on the list and their description. Show Screenshots. 5.) In your personal opinion, what is the future of the NFT Markets? Give reasons for your answer. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) **1. Nifty Gateway platform** ![nft2.png](https://cdn.steemitimages.com/DQmNfUVayrTxsja4EhAbFATretq1Sh3oScV7vEmSmMXSaF6/nft2.png) This is an NFT platform exclusive here to storm the world of digital art through blockchain incorporation. The Nifty Gateway platform offers a blend of crypto technology and artwork collectibles, thus creating a robust suite for tradeable and high-value assets and as such brings a new investment opportunity to all. In a nutshell, the Nifty Gateway platform is a platform for buying and selling non-fungible tokens (NFTs, also known as Nifties). An NFT is a crypto asset recorded on a ledger known as the blockchain. Although other cryptocurrencies are also recorded this way, NFTs are different, in that they represent real-world assets like art, music, and gaming, thus they are can’t be interchanged. **Owners and Founders of Nifty Gateway** The Nifty Gateway platform is owned by the parent company, Gemini LLC. Gemini LLC is a crypto exchange platform founded by the Winklevoss brothers, a New York trust company. Due to Nifty sales, the company is currently worth over $1.2 billion. **NFTs You Can Trade on Nifty Gateway** ![nft3.png](https://cdn.steemitimages.com/DQmSQuYVwYWeh8vyXE4VBkSq7inTjAWgqian8PEnmzTMqF7/nft3.png) The platform is exclusively set apart for the trading of music and artwork crafted by the Nifty team. Among the team of curators are popular musicians and DJs who have made sales reaching thousand Dollars. Some of them are Deadmau5, Carl Cox, Gramatik, Ozuna, and rapper as well as Lil Yachty. Also trading on the platform are murals of popular sports players like the NBA basketball player, Kobe Bryant or footballer, Mesut Ozil. The platform also has collaboration with sports organizations such as OG and Exports. Here we also have classic artists like Beeple. Beeple has made sales worth over $69 million. Others are Trevor Jones, who made Bitcoin Angel artwork, Mankind, known for his captivating collection of moving pieces, along with New York-based artist, Kenny Scharf. Other artists who have their artworks on the Nifty Gateway platform are Mad Dog, 3LAU, Genies, Matt Gondek, Greg Mike, John Burgerman, Lushsux, and Justin Roiland. **Pros of Nifty Gateway Platform** Aesthetic Value of their NFTs: One of the major credits of the NFTs trading here is of high aesthetic value. This is because artists here take the time to curate items that have high aesthetic value based on the standard set by the platform. The team conducts vigorous vetting of artists before bringing them to the platform. This is why any NFT got there has an exclusive value of what it represents. **Cons of Nifty Gateway platform** NFT Heist: The hack on the platform saw a lot of artwork stolen, worth millions of dollars. Environmental impact: the electric power used in transactions in the Ethereum blockchain for each NFT transaction is relatively higher than what is needed to run homes, thus it diminishes the use of power for off-chain activities. Only US-based Payments: Only banks in the US can be used for withdrawal, except those using crypto to withdraw funds. This hinders non-crypto international investors. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) **2.ERC-1155 tokens** It is a unique token that supports both non-fungible and fungible tokens. It is very fast in making batch token transfers. It was developed by Enjin and is known to be the next-generation multi-token standard. The ERC-1155 can utilize a single contract to make various NFTs. It is affordable to use ERC-1155 for minting on the blockchain, as it cuts gas fees to 90% off. ERC-1155 differs from ERC-20 and ERC-ERC-721 in that ERC-1155 is difficult to track in terms of ownership. In order words, they don’t have very robust tracking information like ERC-20 and ERC-721. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) **3.Exploring Etherscan** ![nft4.png](https://cdn.steemitimages.com/DQmesoYTSkWd3Kex7toUvkDURijmAtiHSD7nrAUXbA8ZzJH/nft4.png) **ERC-1155 Tokens**: At the time of writing, A total of 17,998 ERC-1155 Token Contracts was found. **Number of transactions in 24 Hours**: A total of 5,149,683 transactions were found at the time of writing. The first five transactions are: OpenSea shared Storefron with transaction hash 0x54868d130dbe1cc6ad11d30be83a426b884a6741adbf8d46a94b81c2354a834c. Token contract: 0x495f947276749ce646f68ac8c248420045cb7b5e OPENSTORE with transaction hash 0x3c1572aba79e89aee96257508adff3a1cb90caf2074199a3ee1323d1d4b871be Contract: 0x495f947276749ce646f68ac8c248420045cb7b5e RAR with transaction hash 0x91a80981e067d3277cf14897f4fc3ec01b312bd33002cdc4cd0dffbdadae0c73 Contract: 0xd07dc4262bcdbf85190c01c996b4c06a461d2430 ERC1155 in transaction hash 0x0de0c0416e88cc8538158d63646e1149c424408582fca573ce6e4808274008d8 Contract: 0x715565baf69afcbbe88f56d46f1c9fe2df828705 ZPR_NFT with transaction hash 0xcd7efe52074c902cf834e512d1943c30b12cf5bff3008c70930e74ecebfbc3f5 Contract: 0xfaff15c6cdaca61a4f87d329689293e07c98f578 **4.Features of Enjin wallet** ![nft14.png](https://cdn.steemitimages.com/DQmWsGTdPVNWxUuRWhn9WF8BVXRWsoqx5n1bntQf68iUEdi/nft14.png) The Enjin wallet has the following features: Wallets: This is where assets are stored. It supports tokens on different blockchains, for example, ERC-20 and BEP-20 tokens. Here, you can add more tokens to the list by clicking the plus sign on the top right. Assets: Here is where you can send or multi-send your assets. It also bridges the wallet with the marketplace. Scan QR Code: Here you can scan your QR code to increase security. ![nft6.png](https://cdn.steemitimages.com/DQmdzpUGoSwW4Dj8NMYMMkQoryPmmxWdv7ebCagbJgAF2bL/nft6.png) Exchange: Here you see a list of exchanges supporting the wallet. Marketplace: This is where NFT s are sold or bought. There are a total of 17,494 NFTs listed for sale on the marketplace at the time of writing. The first five are: a)Crystal Rosin: ![nft9.png](https://cdn.steemitimages.com/DQmSgvH88znEEGXrVh1AWX8ZvtXz967G46eRn9Js1ngu9dJ/nft9.png) This is a legendary bottle whose primary purpose is to seal the pores of the wood to give it a smooth and even surface. Thus, it provides first-rate protection to wooden surfaces. b)Sirion’s Thunder: ![nft10.png](https://cdn.steemitimages.com/DQmYzSLwHqvjcQRm9jvckzCYTTdaUNU959u3jXTTJeDiKBU/nft10.png) This is an overpowering weapon used by the Meta gods to protect the findings of the Meta laboratory. It is an unstoppable weapon and the energy used in developing it was exhausted after producing the first 500 pieces. c)Zigzag Zeal: ![nft11.png](https://cdn.steemitimages.com/DQmSx65FFqNN9kUK76YqRtKiwuoTgew2eBWozAoEMUnwhGg/nft11.png) This is a legendary amulet used to travel to the four corners of the earth. It was used by an ancient woman to achieve this feat, after which the amulet became of little use to her when she became old. d)Tears of Serenity: ![nft12.png](https://cdn.steemitimages.com/DQmW6dCzEXM76ywq3CEyrqY1WBaktETzTsR1sJFSjMqLAkp/nft12.png) The challenge of discovering the ancient kingdom of Anaria left adventurers in the serene bush trying to find their way. This represents their tears of loneliness. e)Frozen Enjin: ![nft13.png](https://cdn.steemitimages.com/DQmQEu4KAF3x3dbtmXpgSqHG4YnVqqAvaXHvTdPe4ocFvfC/nft13.png) This is an ERC-1155 token, a form of cryptocurrency powering the Enjin ecosystem. Dapp Browser: This features different apps that are supported by the wallet. They are arranged according to their portfolio, ranging from DeFi, exchange, games, and collectibles, marketplace, and others. Here you can also use dapps not listed by simply putting the link in the search icon. Linked Projects: It shows the list of projects linked by the user to the wallet. Contact support and setting: this is a link to the support center. The setting is to change features like the currency of your choice, password, among others. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) **My Personal Opinion on NFT Markets** I personally believe that NFT markets are here to stay. With the growing global interest in creativity, competition in arts and sports, it is clear that the NFT marketplace can futuristically compete with conventional cryptocurrency exchanges and the stock market. I believe with new artists and sportsmen/women getting to know about NFT, the market for the transactions of these unique blockchain assets will boom more by the day. In the area of gaming, NFTs pegged to gaming platforms will also cause the NFT markets to become more popular and adopted by the day. Thank you for reading. ![image.png](https://cdn.steemitimages.com/DQmU7XQBF4CtUpkFYmBDcYPFGjVsUyhfyTftsNkCSf2TSJt/image.png) Cc: @imagen @steemcurator02 [Reference1]( https://www.daytrading.com/nifty-gateway) [Reference2](https://www.one37pm.com/nft/tech/erc-721-vs-erc-1155-nft-contract-what-to-use) [Reference3](https://etherscan.io/tokentxns-nft1155) [Reference4](https://enjinx.io/eth/marketplace?source=EnjinWallet-1.15.0)