Element, a new NFT market invested by Sequoia, can it succeed?
Author: @0xMavWisdom After more than three months of exploring the 1.0 phase, Element 2.0, the multi-chain aggregated NFT marketplace with its founder Wang Feng and Sequoia Capital investment ring, has drawn on the strengths and weaknesses of the three mainstream NFT marketplaces, OpenSea, LooksRare and X2Y2, in terms of interface/functional design, airdrop rewards and mining mechanisms. It has been two months since the launch of the Element 2.0 marketplace on 18 August, and the end of the Element Storm ELE rewards event on 5 November is approaching. When the rewards campaign ends, there could be a strategic change regarding the positioning of the ELE, which now acts as a reward for points, and the introduction of new incentives. In terms of overall trading volume, after the launch of Element 2.0 and the launch of the Element Storm campaign, Element went through the following phases: the coupon clipping, deal-hunter cooling off period, aggregated trading period, and downturn period. Th...