LooksRare is a decentralized NFT marketplace that aims to reward all participants within the protocol and thus boost a fair and community-driven environment. They take pride in building their own marketplace from the ground up and having total control over the security, scalability, and new features that they are able to roll out.
The marketplace was launched in 2022. Since then, more than $1.3 billion in rewards have been handed out to traders and collectors on the platform.
In LooksRare, they have a community-driven approach, which means that all community members and participants get rewarded in some ways. Indeed, any buy or sell transactions on the platform are given LOOKS tokens in return. Also, 100% of the generated fee is used to reward those who contribute to the platform. What makes LooksRare very attractive to NFT creators is that they get their royalty instantly at the time the sale is concluded.
In the future, people will have the options to buy a whole NFT collection, purchase an NFT with specific traits, or cancel multiple open orders in only one transaction.
LOOKS is the governance and utility token of the LooksRare platform. It has a total supply of 1,000,000,000. LOOKS’s circulating supply is 469,539,052.
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Spot market
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