Community-led, transaction mining, can the NFT platform "LooksRare" replace OpenSea?

Odaily资深作者

2022-01-11 04:04

This article is about 1243 words, reading the full article takes about 2 minutes

This time the airdrop comes with products.

On January 10, Beijing time, the community-led NFT market "LooksRare" was officially launched and the official token LOOKS was launched.

It is officially announced that some OpenSea users will be airdropped. Anyone who trades 3 ETH or more in OpenSea between June 16, 2021 and December 16, 2021 will be eligible for the LOOKS token airdrop.

Unlike SOS, which only had airdrops before, Looksrare has simultaneously launched a NFT trading market with relatively complete functions. Eligible users also need to place an NFT pending order on the "LooksRare" platform (no transaction required) to get airdrops. (Official website address:https://looksrare.org/）

The airdrop once caused congestion on the Ethereum network, and the gas fee once soared to 300 Gwei; so far, this airdrop claim event has burned 1,755 ETH, ranking third on the single-day destruction list, second only to OpenSea (2,236) and Uniswap V3 (1835 pieces). In addition, multiple platforms including Huobi Global launched LOOKS transactions, and the price of LOOKS once soared to $4.5, and is currently at $2.47.

On the official website, LooksRare calls itself a community-first NFT marketplace that actively rewards participating traders, collectors, and creators. Its purpose is: composed of NFT players, serving NFT people (By NFT people, For NFT people).

Regarding why the concept of community is the main focus, LooksRare believes that the current NFT community is not taken seriously by market leaders, and platform decision makers choose IPO listing instead of community users to benefit (sarcasm Opensea); therefore, LooksRare chooses to set a new industry for the NFT market standards to serve a wider community of users.

Users can use ETH and WETH to buy or sell NFT in LooksRare, and can also use WETH to quote a single NFT. They can also use the "series quotation" function to make one-click quotations for NFTs in a series (Note: WETH can be combined with more complex The contract interacts, and the scope of application is wider).

Furthermore, LooksRare allows users to earn daily transaction rewards while earning platform transaction fees. Users can earn LOOKS and WETH tokens by trading NFT on LooksRare, pledging LOOKS, etc. Specifically, LooksRare will charge a 2% service fee for all NFT transactions (Opensea charges a 2.5% service fee for each transaction), and these fees are 100% directly earned by LOOKS stakers (Stakers); in addition to handling fees, stakers also Additional LOOKS tokens can be obtained, and the specific allocation is shown in the figure below:

Additionally, once a collection's transaction volume on LooksRare reaches 1,000 ETH (excluding private sales), users who buy and sell NFTs in that collection (again, excluding private sales) will receive LOOKS tokens as transaction rewards at the end of each day (Note: Private sales do not charge transaction fees, which may lead to brushing behavior, so do not participate in reward distribution).

In addition, LooksRare also launched the "instant royalty payment" function. Creators use LooksRare, as long as users trade NFT, they can receive royalties immediately, without waiting for weeks; royalties are only paid in WETH, not ETH.

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