New NFT marketplace LooksRare allows traders to earn rewards
Recently launched non-fungible token (NFT) marketplace LooksRare said it wants to index a collection of all NFTs on the ethereum blockchain. The site went live today via a token airdrop.
#LooksRare NFT Marketplace is now live!
$LOOKS Airdrop claims open
? Staking starts from block 13977012
Trading reward calculation starts tomorrow
– LooksRare – NFT Marketplace (@LooksRareNFT) January 10, 2022
LooksRare was created by two anonymous co-founders, Zodd and Guts, and claims to be “made by NFT people, for NFT people”. according to In its blog announcement, the LooksRare team is “tired of the deplatforming of creators and decision makers who value business over community and seek IPOs instead of benefiting the community.”
Their so-called solution is to provide a marketplace that rewards platform participants and creators. Users who buy or sell NFTs from eligible collections can earn their native utility LOOKS tokens. OpenSea users who traded 3 ETH or more between June 16 and December 16, 2021 are eligible for an airdrop of LOOKS tokens.
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Additionally, the platform charges a standard 2% fee for all NFT transactions, lower than OpenSea’s 2.5%, which is used for LOOKS token stakers. Users can trade NFTs with ether or wrapped ether (WETH).At the time of publication, it appears trade at 0.0008748 WETH ($2.69).
The LooksRare website was down for several hours on Monday, causing some users to have difficulty connecting their wallets and completing listings. According to the project’s Discord, the site was hit by a distributed denial of service attack (DDoS), which meant its network was flooded with malicious traffic.
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On Monday, news outlet The Associated Press published another NFT market launch announcement, plan It will launch its photojournalistic NFT platform on January 31st.