LooksRare V2 Launches Today
LooksRare announced the launched of its upgraded V2 platform, reducing protocol fees and gas fees while introducing numerous new features for users.
❗Why It Matters
The launch of LooksRare V2 is another move in the ongoing marketplace war which is pushing marketplaces to innovate and ultimately reduce fees for traders. The reduced fees and new features will make NFT trading more accessible on the marketplace and allow it to compete with the pro trading features offered on Blur and OpenSea Pro.
The Deets
- Slashed protocol fees by 75%
- Reduced gas fees by up to 50%
- Sellers now receive ETH instead of WETH
- Allowed to purchase and list 70+ NFTs in one transaction
- Reusable signatures and custom recipients allowing you to buy with one wallet and send it to another
The Details
The new V2 platform offers several immediate benefits to users. Protocol fees have been reduced by 75 percent, now at a fixed 0.5 percent. Gas fees have also been significantly reduced, with savings of up to 50 percent compared to other marketplaces. ETH now replaces WETH for sellers, streamlining the transaction process and avoiding extra conversion fees. Degens can now enjoy native bulk buying and listing capabilities for over 70+ NFTs in one transaction. Finally, reusable signatures and custom recipients allow for more efficient transactions and greater flexibility.
🎤 Community Quotes
💰Money Talks
$LOOKS marketplace token is up five percent in the last 24 hours to $0.15 according to CoinGecko. However, the token is still down 92 percent on the year and nearly 98 percent from its all-time high.
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