Element.market

About Element.market

Element.market operates as a decentralized, multi-chain NFT marketplace designed for creating, discovering, and trading digital assets. Founded by Fred Wang, who also serves as the chairman of Linekong and founder of Mars Blockchain, the company is backed by notable investors including SIG, Dragonfly Capital, and Sequoia Capital. The platform aims to serve creators, traders, and the broader community by facilitating entry into the NFT market.

The core of Element.market's business is providing an aggregated liquidity platform where users can buy and sell NFTs across various marketplaces like OpenSea, LooksRare, and X2Y2 from a single interface. This aggregation model is designed to offer users access to the best liquidity and lowest transaction costs. The platform operates across numerous blockchains, including Ethereum, Polygon, BNB Chain, and Avalanche, aggregating over 180 million NFTs across 27 chains. Revenue is generated through transaction fees; for instance, the platform charges a commission from the seller on successful transactions, and an additional royalty fee may go to the original NFT creator. The business model also includes offering rewards to traders.

The platform provides a suite of tools to enhance the trading experience. These features include multi-market listing capabilities, a comprehensive ranking system with functions like whale tracking, and data analysis tools such as advanced charts. For creators, Element offers support services like marketing assistance and technical support to help launch NFT collections. The marketplace is engineered to save on gas fees, with optimized smart contracts that can reduce these costs by up to 49% through functionalities like bulk orders and cancellations. Users can engage in various transaction types, including fixed-price sales and auctions. The platform also ensures authenticity by featuring verified collections.