QUESTION 1
Describe in depth the nifty gateway platform, which are its founders and what market is it aimed at.

The Nifty Gateway Platform

Definition

Image Source

The nifty gateway is a platform based on non-fungible token trading. They into consideration the collectible artwork as well as crypto-technology in the creation of tradable assets, which are normally regarded as high value in introducing the world to a better investment potential. Currently, the nifty gateway platform is regarded as one of the leading online platforms in the trading of non-fungible tokens.

Background

The Nifty gateway platform was founded and is owned by the Gemini LLC company. the Gemini company is actually a cryptocurrency exchange website with founders named as Winklevoss.

Aim of the Nifty gateway platform

Beginning by talking about the functionality of the nifty gateway platform, the platform acts an exclusive spot for the reservation of music and artwork which is being curated by the nifty team.

Advantages of the nifty gateway platform

• The nifty gateway is particularly known for its exclusiveness. This is because the nifty gateway acts as a vigorous vet in the handpick of non-fungible tokens.
• The nifty gateway platform is has very unique artist and collectors’ items when we compare it to other market place such as the makerspace.

Disadvantages of the nifty gateway platform

• Talking about security reasons, we see the non-fungible heist which was a scenario in which many nifty gateway accounts were hacked making it lose lots of money as well as its trust.
• Going to the environmental aspect, we see it as a general case in the cryptocurrency world which does not leave NFT out in the climate change it posses.

QUESTION
What are ERC-1155 tokens? How do they differ from ERC-20 and ERC-721 token

ERC-1155 tokens

The ERC-1155 token is a unique token which uses single types in various types of NFT, the ERC-1155 supports the non-fungible token while showing its properties in relation to being faster as well as being efficient when it comes to batch token transfer.
Another name of the ERC-1155 token is the next generation multi-token standard and the erc-1155 was developed by the famous Enjin.

Going to the transaction fee of the ERC-1155 tokens, we see it to cut up to 92% of gas fee, with this huge cut we see that the ERC-1155 token is made quite affordable especially in starting minting on the blockchain.

Difference between the ERC-1155 and the ERC-721

Transferability

Beginning with transfer, the ERC-1155 supports batch transfer, as many token ID can be transferred in a single transaction while in the ERC-721, it supports only one token at a time in its transfer.

Smart Contracts

In the deploying of tokens, the ERC-721 requires new smart contracts; while in the ERC-721, it deploys infinite token types of just a single smart contract.

The ERC-721, is tokenized by default and is known to be gold standard of valuable collectible NFT.

Non-fungible and Fungibles

ERC-1155 allows fungible and non-fungible tokens while the ERC-721 is limited to non-fungibles.

###Difference between ERC-1155 and ERC-20 tokens
The ERC-20 is a blockchain based token while the ERC-1155 is based on the fungibles and non-fungible tokens which was created by the ENJIN company.

The ERC-1155 is based solely on single contract to represent multiple tokens while the ERC-20 works only on the ethereum platform.

QUESTION 3
Login to etherscan. Please indicate the number of erc-1155 tokens in existence at the time of writing this assignment. Indicate the first 5 token by volume of transactions in the last 24hours. Indicate the hash of the last transaction carried out and the identification of the token as well as its smart contract.

Etherscan

We follow the steps below;

Step 1

We logging to the etherscan site

Step 2

We then click on the token tap, and click on the ERC 1155 Top tokens

^{total number of ERC-1155 token in existence}

Indication of the first 5 tokens

Hash of the last transaction

0x626b2efb71d163fafb94bacf3f648ea3b2cec8f4536adee25f230be9608a8e6b

Contract

0x495f947276749ce646f68ac8c248420045cb7b5e

QUESTION 4
Enter the enjin wallet, describe the functions that it presents in its user interface. Enter the market place indicate the first 3 items on the list and their description.

Enjin Wallet

On logging into the enjin platform we have 5 major core features which are;

• Products
• Resources
• About
• Log in
• Get started

Platform

The platform tab, can be used in creating and integrating the next-gen NFTs with the usage of the website as well as apps and games.

Wallet

The wallet feature can be used in the creation of a wallet for the usage of transactions. We can see that in the screenshot below.

Marketplace

The marketplace feature can be used in buying and selling unique non-fungible tokens

Beam

With the beam feature, we get to learn the blockchain-powered way in growing and engaging target audience.

Exploring the marketplace

The lost relic

The lost relic talks about a small town of the name Talmuth which is thought to look peaceful when viewed on the external view, meanwhile when you go deep, you are cast out into caves, catacombs and a dimly-li world of dungeons.

The health Hero

he discription for the health hero is quite simple and straight forward. it is described to bring happiness and health targeting over a billion people.

Age of Rust

the age of rust is described by the unlucking mysteries and treasure of post-apocalyptic sci-fi of the universe. this is through the usage of combat, stealth, and puzzle mechanics.

QUESTION 5
In your personal opinion, what is the future of the NFT markets? Give reasons for your answer

My Personal Opinion on the future of the NFT market

I can say personally that the future of the NFT market is a great one. This is because we have seen the rise of the NFT market,
We see that the in real life we have a good rise of the artwork and music as well. Especially in the music industry. With the engaging of the non-fungible tokens .

i can also relate the future rise of the nft market to the fast growing blockchains games. we see a good number of thee public now engaging in blockchain games, with this engagement it will bring about knowledge and findings from the individuals especially when it comes to selling off their nft, this will bring about the nft market which will also bring about its rise.

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