NFT Marketplace LooksRare Reduces Fees by 75% After Latest Update
LooksRare, a marketplace for Nonfungible tokens (NFTs), has announced the release of version 2.
The company has reduced fees by 75% and introduced several new features, as per the April 6 announcement.
🚀 𝗟𝗼𝗼𝗸𝘀𝗥𝗮𝗿𝗲 𝗩𝟮 𝗶𝘀 𝗻𝗼𝘄 𝗹𝗶𝘃𝗲! 🚀
Rolled out rn:
– Fee dropped to 0.5%
– Gas 50% cheaper than Blur
– One-signature bulk listing
– Buy 70+ NFTs at once
– Sellers get ETH instead of WETH
Full deets 👇https://t.co/3XXGeGK2r2
— LooksRare (@LooksRare) April 6, 2023
The previous version charged 2% per trade, while the new version only charges 0.5%. The new platform also has more gas-efficient contracts that can save users up to 30% on gas fees.
Additionally, aggregators can now implement custom recipients, and sellers can list their NFTs for sale in token prices, including for a fixed US dollar price.
However, some users are still skeptical about the new version‘s token incentives and listing capacity.
Despite this, the announcement has received positive reactions from many LooksRare users, who believe that the new features will provide a strong challenge to competitors like OpenSea and Blur.
The company has also stated that version 1 will be sunsetted on April 13.