LooksRare is an NFT marketplace that was launched in January 2022. The platform is built on the Ethereum blockchain and allows users to buy, sell, and trade NFTs. LooksRare is designed to be a more user-friendly and rewarding experience than other NFT marketplaces.
Here are some of the key features of LooksRare:
- Lower fees: LooksRare charges a 2% fee on all NFT sales, which is lower than the 2.5% fee charged by OpenSea.
- Rewards: LooksRare rewards users for buying, selling, and holding LOOKS tokens. Users can earn LOOKS tokens by staking their tokens, participating in governance, and referring new users to the platform.
- Transparency: LooksRare is committed to transparency. The platform publishes all of its data, including the number of NFTs listed, the number of sales, and the amount of fees collected.
LooksRare has quickly become one of the most popular NFT marketplaces. In the first month of its launch, the platform generated over $2 billion in trading volume. LooksRare is a promising platform that has the potential to disrupt the NFT market.
Here are some of the risks associated with LooksRare:
- It is a new platform: LooksRare is a new platform, and there is no guarantee of its long-term success.
- The NFT market is volatile: The NFT market is volatile, and the price of LOOKS tokens could fluctuate significantly.
- The platform is not insured: LooksRare is not insured, and there is no guarantee that users will be able to recover their funds if the platform is hacked or goes bankrupt.
Overall, LooksRare is a promising platform with a lot of potential. However, it is important to remember that it is a new platform, and there are risks associated with investing in any cryptocurrency.
Things to do in LooksRare
LooksRare is a new NFT marketplace that has quickly become one of the most popular platforms for buying, selling, and trading NFTs. Here are some of the things you can do on LooksRare:
- Buy and sell NFTs: LooksRare offers a wide variety of NFTs for sale, including CryptoPunks, Bored Apes Yacht Club, and Azuki. You can buy NFTs with ETH or WETH.
- Earn rewards: LooksRare rewards users for buying, selling, and holding LOOKS tokens. You can earn LOOKS tokens by staking your tokens, participating in governance, and referring new users to the platform.
- Explore the NFT market: LooksRare has a user-friendly interface that makes it easy to browse through the NFT market. You can filter NFTs by collection, price, and rarity.
- Connect with other NFT collectors: LooksRare has a vibrant community of NFT collectors. You can connect with other collectors by joining the LooksRare Discord server or following the LooksRare Twitter account.
Here are some of the risks associated with LooksRare:
- It is a new platform: LooksRare is a new platform, and there is no guarantee of its long-term success.
- The NFT market is volatile: The NFT market is volatile, and the price of LOOKS tokens could fluctuate significantly.
- The platform is not insured: LooksRare is not insured, and there is no guarantee that users will be able to recover their funds if the platform is hacked or goes bankrupt.
Overall, LooksRare is a promising platform with a lot of potential. However, it is important to remember that it is a new platform, and there are risks associated with investing in any cryptocurrency.