LooksRare Research Hub | LOOKS information, history and analysis
LooksRare is an NFT exchange on Ethereum similar to Opensea, developed to be the NFT marketplace for the community. LooksRare collects a fee for selling NFTs, using this fee as a reward for stake participants. LooksRare is one of the first NFT exchanges to have an incentive mechanism through rewarding tokens for all participants in the project, such as creators, collectors, and traders.
Technically, the LooksRare development team designed the technical framework (contracts, databases, APIs, user interface, and search functionality) from the ground up to optimize scalability, speed, efficiency, and security. With a long-term development vision, LooksRare is also set up to ensure compatibility when deploying across scalable solutions in the future.
LOOKS is the main token in LooksRare’s product ecosystem. LOOKS operates on the Ethereum platform according to ERC20 standards and is used for the following purposes:
- The reward for NFT traders on the LooksRare platform.
- Staking rewards.
Token Spotlight: LooksRare (LOOKS), the new generation NFT exchange
LooksRare is an NFT trading marketplace developed for the community.
The platform provides an opportunity for users including creators, collectors, traders to receive rewards in the form of LOOKS tokens for using LooksRare.
Details: https://bit.ly/415AY6L
LooksRare initiates token burn and buyback strategy, LOOKS surges 32%
NFT marketplace LooksRare has announced the commencement of its token-burning process.
The platform stated that 25% of the LOOKS tokens used for repairs in the ‘INFILTRATION’ event will be destroyed, while 50% of the total fees will be utilized to buy back LOOKS from the market.
NFT marketplace LooksRare launches v2
Nonfungible token (NFT) marketplace LooksRare has upgraded to version 2, reducing fees by 75% and implementing several other features.