The problems faced by OpenSea actually reflect the problems of NFT itself. This is also one of the problems faced by Element and other platforms: NFT lacks liquidity.
If we want to quantitatively measure the degree of this lack, except for a few popular projects, the daily active trading volume of the NFT market under normal circumstances only accounts for one thousandth to one ten thousandth. Even if this limited trading volume is multiplied by transaction fees, it is not even enough to cover basic expenses such as servers. This highlights the issue of illiquidity in the NFT market, an issue that is critical to the long-term sustainability and development of the market.
