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New NFT marketplace LooksRare allows traders to earn rewards

New NFT marketplace LooksRare allows traders to earn rewards

LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live on Monday with a token airdrop.

#LooksRare NFT Marketplace Now Live!

$LOOKS airdrop claim open
⏰ Staking starts at block 13977012
Tring reward calculations start tomorrow

LFG! https://t.co/Y1jt9Kmqt6

— LooksRare – NFT Marketplace (@LooksRareNFT) January 10, 2022

Created by two anonymous co-founders, known as Zodd and Guts, LooksRare claimed to be me “By NFT People, for NFT People.” According to its blog announcement, the LooksRare team is “tired of the deplatforming of creators, and the decision-makers who value business over community, seeking IPO inste of benefiting the communities that got them there.”

Their alleged solution is to offer a marketplace that rewards the platform’s participants and creators. Users who buy or sell NFTs from eligible collections can earn its native utility LOOKS tokens. OpenSea users who tred 3 ETH or more between June 16–Dec. 16, 2021 are eligible for an airdrop of LOOKS Tokens.

Related: GameStop shares jump 26% in after-hours tre after NFT division unveiled

In dition, the platform has a 2% standard fee on all NFT tres, which is lower than OpenSea’s 2.5%, that goes to LOOKS token stakers. And users can tre NFTs with Ether or wrapped ether (WETH). At the time of publication, LOOKS tred at 0.0008748 WETH ($2.69).

The LooksRare site was down for a few hours on Monday, which caused some users to experience difficulties while connecting their wallets and completing listings. According to the project’s Discord, the site was under a distributed denial-of-service attack, or DDoS, meaning that its network was overwhelmed with malicious traffic.

Related: 5 NFT marketplaces that could topple OpenSea in 2022

On Monday, another NFT marketplace launch announcement was me by the news organization Associated Press, which plans to debut its photojournalism NFT platform on Jan. 31.

META
ARTICLE: New NFT marketplace LooksRare allows trers to earn rewards
PUBLISHED: 2022-01-10 21:45:00 
SOURCE: https://cointelegraph.com/news/new-nft-marketplace-looksrare-allows-trers-to-earn-rewards
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