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LooksRare Price

(LOOKS)

Note: This cryptocurrency has not yet been officially listed on KuCoin Thailand.

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LooksRare (LOOKS) Live Price Chart

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    LOOKS(LOOKS) Profile

    altRank2644
    rateB
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    ATH
    $7.07267713
    Price Change (1h)
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    Price Change (24h)
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    Price Change (7d)
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    Market Cap
    24h Volume
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    Circulating Supply
    999,941,673
    Max Supply
    1B

    About LooksRare

    • What Is LooksRare (LOOKS) Crypto?

      LooksRare (LOOKS) is a community-oriented NFT marketplace that focuses on rewarding traders, collectors, and artists. It prides itself on being founded "by NFT people for NFT people." The platform launched with an airdrop to wallets that had generated a minimum volume of 3 ETH transactions on OpenSea. Over 110,000 wallets could claim LOOKS, representing 60% of all eligible wallets.

      The community-oriented approach of LooksRare is based on three pillars:

      1. Rewarding users: Users who buy or sell NFTs on the platform receive rewards in LOOKS.

      2. Redistribution of platform fees: 100% of the generated fees go to the stakers.

      3. Instant payout to artists: Artists receive immediate royalty payments at the time of sale.

      LooksRare is built with modular smart contracts, which allows the platform to introduce new features over time. The roadmap promises further innovations such as the ability to bid on all NFTs in a selected collection, to bid on NFTs with specific features (e.g., a Bored Ape with golden fur), and to cancel multiple orders in one transaction.

    • How Does LooksRare NFT Marketplace Work?

      LooksRare is an Ethereum-based NFT marketplace that utilizes blockchain technology to enable the trading of unique digital assets. The platform allows users to trade NFTs directly from their wallets. After connecting with the website, they can customize their profile and buy and sell individual NFTs or collections. NFTs are offered at fixed prices, or users can bid on them if the owner has listed an NFT for sale. All trades are paid in ETH or WETH.

      A key difference from other NFT marketplaces like OpenSea is that LooksRare offers a lower trading fee of 2% compared to OpenSea's 2.5%. Additionally, traders receive rewards in the form of the native LOOKS token. This has led to allegations of so-called "wash trades" to boost the platform's popularity and exaggerate trading volume compared to other marketplaces.

      The trading rewards follow a tiered emission schedule divided into four phases. In each phase, a specific number of LOOKS tokens are issued and distributed to users.

    • History and Background of LooksRare

      LooksRare was launched by two anonymous founders named Zodd and Guts. The platform is similar to the SushiSwap DEX, founded by an anonymous account called "Chef Nomi."

      Just as LooksRare competes with OpenSea, Sushi faced a larger and more resource-rich platform called Uniswap, which it tried to displace. LooksRare has also adopted Sushi's approach of challenging the established market leader through a "vampire attack," free tokens are distributed to users to draw liquidity away from the competition.

      The founders of LooksRare have deliberately chosen to remain anonymous and not disclose any further information about their backgrounds. This approach reflects the tendency often found in crypto and NFT, where pseudonymity and decentralization are highly valued.

    FAQ

    • Is LooksRare (LOOKS) a Good Investment?

    • What Is LooksRare Price Prediction?

    • What Are LooksRare’s Tokenomics?

    • How to Use LooksRare NFT Marketplace

    • How to Stake LOOKS on LooksRare

    • What is the all-time high price of LooksRare (LOOKS)?

    • How much LooksRare (LOOKS) is there in circulation?

    • How do I store LooksRare (LOOKS)?