LooksRare NFT market proclaims its official debut and an airdrop of LOOKS token to customers on the situation that they traded 3ETH or extra on OpenSea from June sixteenth to December sixteenth, 2021. According to the launch publish, LOOKS stakers can earn 100% of the transaction charges on the NFT market [all NFT transactions have a 2% standard fee]. The platform which touts itself as the following era NFT market, defined within the weblog publish that it indexes all NFTs that exist on the Ethereum blockchain to be able to let customers all of the Ethereum NFTs which are out there in OpenSea and others.
In addition to that, it additionally allows customers to commerce in these digital property with Ether or Wrapped Ether [WETH], or a combination of each, and make presents utilizing WETH. LooksRare was began by two nameless co-founders, often called Zodd and Guts backed by a small crew consisting of 9 people, most of whom engineers.
The LOOKS token which is being utilized to reward in addition to draw customers from bigger rival OpenSea went stay at 8:15 UTC this morning and is being traded on the decentralized alternate Uniswap. The asset noticed a peak worth of $4.71 earlier than dropping to its press time worth at $1.82. Currently, the platform is providing a particularly excessive fee of 30,400% APR to these staking the token.
LooksRare Vampire type assault on OpenSea
By enabling customers to assert LOOKS tokens at no cost, the brand new market is seeking to entice NFT large spenders who’re common on OpenSea. This sort of try within the crypto sector is named a “vampire attack” as one protocol tries to steal a competing platform’s consumer base. Back in September 2020, SushiSwap carried out the notorious vampire assault that led to about $1.5 billion transferring from Uniswap to SushiSwap.
Interestingly that is OpenSea’s second vampire assault, the primary being inflicted by the then-newly launched NFT market Infinity. This focused the previous’s consumer base with the same airdrop on eighth October 2021. Having mentioned that, one may verify the declare stats for the brand new NFT market’s LOOKS token within the DuneAnalytics dashboard offered by hildobby.