What is LooksRare? Full information about LooksRare and the LOOKS . token

• Overview of LooksRare
• What is LooksRare?
• Features of LooksRare
• Main features of LooksRare
• LooksRare . project developer and investor
• Overview of the LOOKS . token
• What is the LOOKS token?
• Allocate LOOKS . tokens
• Where can LOOKS tokens be bought and sold?
• The future of LooksRare and should I invest in the LOOKS token?
• summary

Overview of LooksRare

What is LooksRare?

LooksRare is an NFT marketplace built on the Ethereum blockchain . Unlike OpenSea, LooksRare is the first NFT exchange with a reward system for the user community, including: Creators, collectors and traders.

It is noteworthy that LooksRare smart contracts are custom built in a modular system of standardized signatures. It allows LooksRare to implement new features without compromising security. 

Besides, the project has also ensured to maintain compatibility with Ethereum scaling solutions. This enables LooksRare to reach more users.

In addition, LooksRare uses the most advanced infrastructures and is implemented based on EIP-712 & ERC-2981 standards, so the architectures inside the platform are scalable, secure. High. 

Features of LooksRare

LooksRare positions itself as a direct competitor of OpenSea, not a fork of the NFT exchange. Since its launch, the project has been attracting users through an incentive strategy known as Vampire Attack – a form of Airdrop for the user community. 

Accordingly, LooksRare spent 12% of the total supply of LOOKS tokens on the Airdrop strategy to attract users from OpenSea. Anyone who has made an NFT transaction on LooksRare with a volume of at least 3 ETH in the 6-month period from the time of the announcement of the Airdrop event, can receive LOOKS tokens. 

Besides, LooksRare also has a staking feature, users only need to stake LOOKS tokens to receive part of the daily transaction fee, get more LOOKS tokens and more. 

LooksRare offers an intuitive, easy-to-use interface for inexperienced NFT traders. At the same time, the project also provides a scalable, secure platform and fast transaction processing speed. In addition, LooksRare also supports payment of NFT royalties with mixed tokens (WETH + ETH). 

In addition, 100% of the transaction fees on the LooksRare platform will reward those who stake LOOKS tokens. This is LooksRare's biggest standout when compared to previous NFT exchanges. On the other hand, this mechanism will encourage users to hold and stake LOOKS tokens longer. This is considered a program to encourage users to stick with the project for a long time.

Main features of LooksRare

NFT Trading

LooksRare supports buying and selling NFT collections created based on the Ethereum blockchain. This means that most of the NFT collections available on OpenSea are sold on this exchange. LooksRare only charges a standard fee of 2% of the total value of the transaction, which is lower than competitors in the same segment. Especially, all revenue from transaction fees will be used to reward those who stake LOOKS tokens.

For the NFT purchase feature, LooksRare supports users with 2 options as follows:

Firstly , buy NFT at a fixed price: Investors can choose 1 NFT they like on LooksRare and trade instantly with the option “ Buy Now ”.

Second , buy NFT at the price given by the user: With this option, the investor can set the price at which he can buy that NFT with WETH. 

Besides, users can offer a price with the whole NFT collection by selecting “ Make Collection Offer ” and entering the amount of WETH as you like. Then, all NFT products in the collection will have the same price set by the user.

In addition to buying, selling, and managing NFT collections, LooksRare also provides the following features:

• Payment of transactions with mixed tokens (WETH + ETH)
• Add deals to individual NFT products or the entire NFT collection
• Stake LOOKS profit up to 200% APR and daily transaction fees
• NFT verification reduces the chance of pretending to be the creator of that collection

In the future, the LooksRare team will launch more new features to set itself apart from other NFT exchanges.

LooksRare . project developer and investor

Development team

Currently, LooksRare has not revealed the identity of the development team behind the project. TraderH4 will update more if LooksRare officially publicizes the identity of the development team to the community.

Investors

As of the time of writing the article, there is no information about LooksRare's investors. TraderH4 team will update after official information from the project.

Overview of the LOOKS . token

What is the LOOKS token?

LOOKS is the native token of the LooksRare project, it is used for staking, making profits and receiving preferential trading fees. Some basic information of the LOOKS token is as follows:

• Ticker: LOOKS
• Blockchain Network: Ethereum (ERC20)
• Total Supply: 1,000,000,000 LOOKS
• Circulating Supply: 251,522,196 LOOKS

Allocate LOOKS . tokens

• Airdrop: 12%
• Strategic Sales: 3.3%
• Liquidity Management: 1.7%
• Volume Rewards: 44.1%
• Staking Rewards: 18.9%
• Founding Team: 10%
• Treasury: 10%

A total of 1,000,000,000 LOOKS will be distributed to the above 7 target groups within 720 days. The specific token allocation schedule is as follows:

Where can LOOKS tokens be bought and sold?

Currently, LOOKS token has been listed on most exchanges such as: Huobi Global, FTX, Gate.io, Bybit, OKX, Uniswap (V2)...

The future of LooksRare and should I invest in the LOOKS token?

In the cryptocurrency market, there are currently many NFT exchanges such as SuperRare, Foundation, OpenSea… to meet the growing demand for NFT trading. In which, the transaction volume of OpenSea has reached about 14 billion USD in 2021.

Although OpenSea has enjoyed countless successes, it has been criticized by the NFT community for various reasons. Many NFT community members had hoped that OpenSea would decentralize the project by launching a token and Airdrop for early adopters, but so far there has been no response from the exchange. 

LooksRare is an emerging NFT market, but has been successful in attracting users since its launch. The project that has rightly hit the needs of users based on their desire for OpenSea, is the Airdrop. With this campaign, LooksRare was able to close the gap significantly to OpenSea's success. 

Currently, it is still quite early to answer the question “should I invest in LOOKS tokens?”. Because, this project is still quite new and there is still a lot of information that has not been disclosed. Therefore, investors must spend a lot of time researching and monitoring the activities of this NFT exchange to be able to make investment decisions for themselves.

summary

Above are the details about the LooksRare project and the LOOKS token. Although LooksRare came out after OpenSea, it gained a lot of traction thanks to its “Vampire Attack” user incentive strategy. If investors are interested in the project, they can follow some official information channels:

Website | Twitter | Discord | Instagram 

• LooksRare NFT Marketplace launches v2, reduces fees from 2% to 0.5%
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