What is LooksRare?
Launched in January 2022, LooksRare is a community-first driven NFT marketplace where you can buy, sell or trade NFTs.
The marketplace actively rewards all users of the platform. Whether you’re a creator, collector, or trader, you are eligible to earn LOOKS tokens. This incentive makes LooksRare an attractive marketplace for ambitious NFT creators as they could profit twice on each sale.
While the incentive will bring in more users and creators who are just after extra cash, it's an effort from the LooksRare team to reward both users and creators for assidting in their growth.
LooksRare’s smart-contracts were built within a customized modular framework that allows new features to be implemented overtime without compromising security. Furthermore, the development team is constantly looking at implementing new features, such as: Collection offer, Trait offer and Multi cancellation.
The collection offer allows users to make an offer that covers all NFTs in a selected collection, the Trait offer lets you buy any NFT with a specific trait in a collection while the Muiti-cancellation enables users to cancel multiple open orders in a single transaction (saving you gas fees). LooksRare’s technical architecture has been designed from the floor up for scalability, speed and security using the latest and greatest tech.
LooksRare has seen meteoric growth in a short period of time, and seems set to be one of the main challengers to established marketplaces.