NFTs are still in the talks even during this bear season. Lots of collections are popping up now and then. People are trading them in various markets like OpenSea, Rarible, and others.
One of the NFT marketplaces I encountered some time ago is Element. I did not really explore it before but I'm glad to have had another chance recently to use and experience it.
Let me share what it is and its likable features.
It is the first community-driven aggregated decentralized marketplace where users can trade Non-Fungible Tokens (NFTs) across various markets. Accordingly, it is "built to save time and money. And it is designed to provide users with the best liquidity, lowest transaction costs, and most efficient trading functions."¹
A three-in-one platform that enables users the opportunity to do the following:
The marketplace currently supports 10 chains including Ethereum, BNB Chain, zkSync, Bitcoin, Polygon, Avalanche, Arbitrum, Linea, Base, and opBNB.
The currency used is network-based. For example, to buy NFTs on the opBNB chain, you need BNB. When trading NFTs on the Polygon network, you will use MATIC etcetera.
Per NewsBTC, the Element team is supported by first-tier investors and has received $11.5 million in Series A investment from Sequoia, SIG, Dragonfly Capital, Draper Dragon, and Ince.
✅ Aggregated
The marketplace aggregates NFTs from different blockchains as mentioned above (i.e. Ethereum, BNB Chain, Polygon, Avalanche, Bitcoin, opBNB, and others).
This is an advantage for users because they can access a wider and more diverse selection of NFTs from various chains in one platform. It also means more liquidity. According to the documentation, Element now aggregates more than 180 million NFTS based on several chains.²
✅ Gas fee savings
The ability to buy, sell or cancel the listing of many NFTs in one transaction (bulk-buy, bulk-sell, bulk-cancel) allows users to save gas fees of up to 49%³ which apparently is 39% cheaper than Opensea or Gem.⁴ Users can even change all or some of their listing price in one transaction.
To buy in bulk, just click on the items and they get added to your cart. They can be easily removed by unchecking them.
✅ Lowest Trading Costs
Apparently, it has the lowest trading fees in the NFT market.
✅ Variety of NFTs
Element features a wide range of NFTs in several categories that include art, collectibles, music, gaming assets, and more. Literally thousands to hundreds of thousands of them in different chains.
✅ Creators get paid instantly
NFT creators can set their royalty % and they get paid instantly the moment their NFTs are sold.
✅ Real-Time Tracking
The platform has its own ranking list where users can filter the data they want displayed depending on their preferences, and timeframes (in terms of network, trending NFTs, # of mints, and other statistics - all in real time.
✅ Marketplace & Collections
Users can easily explore and browse the marketplace and the collections available across different chains.
✅ Launchpad
It has a launchpad where new NFTs being minted or launched in the platform are introduced.
✅ Multi-listing
Users can list their NFTs on Element, OpenSea, Rarible, Gem, and other supported marketplaces.
✅ Ease of Use
It is pretty easy and straightforward to sign up (just connect a wallet) and do any activity on the platform from minting NFTs, buying any or listing them for sale, switching from one network to another,
There are search fields that make it easy and quick to find a certain collection or NFT.
✅ Opportunity to get rewards
Depending on the network and active promotions, users can get rewarded for their activities or interactions in the marketplace. They can get rebates, airdrops, and others.
Element.Market is a decentralized aggregated Non Fungible Tokens (NFTs) marketplace where users can access NFTs in different blockchains in a single platform.
I like the feature where users can do bulk purchases, bulk listing, bulk cancelation and/or bulk changing of pricing which definitely saves transaction fees.
It is also nice that users can check whether NFT collections are verified or not. It helps them avoid falling into scam projects.
The interface is intuitive, neat and user-friendly. It is so easy to create an account (simply connect a wallet) and then you can already buy or list NFTs.
Disclaimer: For information only. Not an endorsement of the application or products. DYOR. Note that NFTs are volatile assets and they involve risks. Sources: Element / Docs / BTC News
Lead image edited on Canva. Logo/s from Element. Screenshots linked directly to their sources. No copyright infringement intended. 20092023/11:23ph
