January 12, 2022

NFT LooksRare Platform Beats OpenSea's Popularity!

 Just launched in a day, LooksRare emerges as OpenSea’s closest competitor based on its high non-fungible token (NFT) trading record-over $ 110 million!

At the same time, OpenSea posted modest trading volume with a record low for 2022, slipping from over $ 261 million on Sunday to below $ 170 million on Monday.

What is LooksRare?

The new NFT trading platform was launched yesterday.

Its launch comes with a free LOOKS token airdrop for OpenSea users who spend at least 3 ETH on LooksRare during the period June 16-December 16, 2021.

In the future, costs generated on LooksRare will be paid as a reward to LOOKS owners who are staking on the platform.

Transaction costs at LooksRare: 2%, lower than OpenSea: 2.5%.

The rewards promised by LooksRare will be paid in Wrapped Ethereum (WETH).

It is understood over 185,000 Ethereum wallets are valid to join the LOOKS airdrop. So far over 74 million LOOKS tokens have been redeemed.

LooksRare will also generate over 2.86 million LOOKS per day and the number will decrease until next year.

LOOKS posted a trading value of $ 3.78, up over 21% in 24 hours at the time of writing this article.