What is Looksrare?
Looksrare is an NFT marketplace where you can purchase and sell various NFT Projects. Looksrare is a rival to Opensea, the largest NFT marketplace platform that is based mostly on the Ethereum network. Because its smart contracts are built specifically for a modular architecture, Looksrare is not a forked version of any current platform. Without worrying about security or centralization, a new function is enabled by a looks unique smart contract.
Looksrare offers 20% lower platform commissions, or trading costs, than Opensea and levies a 3% trading fee in comparison to Opensea’s 4%. Additionally, platforms compensate users for purchasing and selling NFTs. Looks is billed as a community-first NFTs marketplace where merchants, stakers, and collectors are all given various forms of compensation. Looksrare has added new types of interaction, such as collection offers, trait offers, and multi-cancellations, to the features list. Due to the fact that many users find it difficult to manage their assets on various platforms, this new interaction will allow users to save on gas costs.
Since its debut, Looksrare’s trading volume has broken records, and more new users are joining the platform every day. Bored Ape Yacht Club, Azuki, Meebits, and other significant NFTs projects are already available on the platform.
Looksrare Price Prediction
|Month & Year||LOOKS Price Prediction|
|Based on||NFT Marketplace|
|Exchange Platform||Uniswap,Huobi Global, Bybit, FTX, MXCE, ZB|
Looks Price Analysis
On the Ethereum Network, the Looksrare Platform’s DAO token and utility token are called Looks. With little restrictions, Looks Token was initially airdropped to NFT traders, making up 20% of the supply. It appears that the listing broke a significant record, and as a result, it was listed on prominent CEX markets like Huobi, Gate, and others. Looks had an all-time high of $7 USD, but during the 2022 bear market, it drops to under $1 USD. As the market prepares for another bull run, it appears that prices are just slowly recovering. Given that NFT trading volume is still modest and that more high volume trading is anticipated in the future, looks are quite useful. So, a large trading volume will undoubtedly help the price of the Looks token in the future.
Looksrare is a direct rival to opensea, which already has millions of members. Since Looksrare’s release, many users have switched from Opensea as a result of the prizes and trade fees it provides. Whale, however, continues to use Opensea since they don’t care about the costs or features that a rival provides. New features that appear to be game changers include target purchasing or selling, multiple order cancellation, and customizable orders. In the NFT marketplace category, Looks is currently placed third, and it has maintained this position.