【Original】Element Token Airdrop is coming soon! The unmissable NFT trading platform

Attention all NFT collectors and traders, if you missed the sudoswap airdrop before, don't miss it this time! Today I want to introduce this NFT trading platform called "Element". Element officially launched in July 2021, but the exchange's popularity over the past year can be described as tepid. Through recent AMAs and cooperation with celebrities in the NFT industry, Element quickly gained market attention.

What is so special about Element? In addition to being an NFT trading platform, it is also an "aggregator" of the NFT market. The so-called "aggregator" means that the trading platform aggregates the pending orders of all NFT markets and platforms from the chain, and displays them all on one interface. Among all the players in the aggregator, genie.xyz and gem.xyz occupy the main market share and are the biggest competitors facing Element. However, when they were acquired by Uniswap and OpenSea respectively, there was nothing new. Conversely, Element, having lived in the shadow of these two big players for so long, now is the time to shine.

As an NFT enthusiast, the author has used various types of NFT exchanges and aggregators. As we all know, OpenSea is the leader of the NFT trading platform, but its reputation is honestly not very good, and the evaluations given by old users are almost more derogatory than positive. As for the aggregator, Element is generally smoother to use, with a better interface and user-friendly operation. Most importantly, as an aggregator, Element seems to have applied magic to the smart contract, and the fuel efficiency of Ethereum has been very well optimized, which is no different from buying directly on the original trading platform. The so-called "seeing is believing", let the author introduce the characteristics of Element and the trading skills of NFT by item.

1. Fuel cost

In blockchains, all actions require transaction fees, especially in Ethereum, which is nicknamed the "noble chain". The pain point that every Ethereum NFT collector will encounter from time to time is that they are often involved in the "gas war" for no reason, and the transaction fee suddenly increases by 5 times or even more than 10 times. This rarely happens on other major NFT public chains, such as BSC, Polygon, Solana, etc. Therefore, gas cost is always one of our main concerns (for Ethereum), especially when it comes to "sweeping the floor".

The figure below shows the gas fee required by each aggregator to purchase 10 ENS from OpenSea. genie.xyz is basically out of the game. In addition to not having ENS, the most popular NFT project, it also consumes the most gas; gem.xyz is not much different from Element, and the latter is generally more effective when the network is blocked. Show some.

Trading tips: If a single transaction contains pending orders from different markets, the gas cost will be higher than buying from the same market.

2. Pending order

In addition to an aggregator, Element itself is an NFT exchange that allows users to place orders. In addition to enjoying a low 0.5% handling fee for NFTs sold through the Element platform, under certain circumstances, some of these NFT collections can even be completely exempt from royalties. The other two aggregators, gem.xyz and genie.xyz, do not provide pending order services on their own platforms.

Trading tip: Despite the recent success of Element aggregators, business on the exchange side has been relatively quiet. If you place an order on Element, it may be overlooked by most NFT collectors or traders. In this regard, OpenSea is still the only one.

3. User interface

Element's website offers an extremely smooth user experience through well-written code and a clean user interface. Even if there are thousands of image files in the wallet, they can be browsed effortlessly.

Trading Tips: When trading popular favorites, the fluency of the website is very important.

4. Airdrop rewards

Element is about to release its native token, ELE, so act now to earn airdropped tokens! Although there are not many details about the economic model of ELE tokens, the author believes that its utility should be similar to that of LooksRare and X2Y2 tokens. Users can share market fees by staking tokens.

Element is currently running a two-month campaign until November 5th. Users can earn ELE tokens by buying, selling and placing NFT orders on the Element platform. You can also invite friends or log in every day to claim tokens. Check out https://www.element.market/reward for more information.

Trading tips: Only designated NFT collections can obtain tokens. The author does not recommend buying just to get ELE rewards, because the floor price of many NFTs may continue to bottom out. Remember, we are still in a bear market right now.

If the floor price of NFT continues to fall, the rewards of ELE will also decrease accordingly, and the price needs to be lowered continuously to get the full rewards

In general, the Element platform provides all kinds of services, bringing a comfortable trading experience for NFT enthusiasts. In the past month's experience, the author can say that it is good but not good. The small shortcomings are some English spelling mistakes and the less active secondary market exchanges. But I believe that over time, Element has the potential to become the largest aggregator and rival OpenSea in transaction volume.