What is LooksRare (LOOKS)? New Opportunities in the NFT World

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Bittime  - The Non-Fungible Token (NFT) markethas experienced rapid growth in recent years. Amid this boom, LooksRare emerged as an innovative NFT platform with several interesting features.

The platform offers a variety of benefits to NFT buyers, sellers, and creators, and has the potential to become a market leader in the future. This article will discuss some important aspects of LooksRare

What is LooksRare (LOOKS)?

LooksRare is a decentralized NFT marketplace that launched in January 2022. The platform offers a variety of innovative features for NFT buyers and sellers, including:

• Royalty Offer: NFT creators can receive a 10% royalty on any resale of their NFTs, paid in LOOKS.
• Staking Offer: Users can stake LOOKS to earn LOOKS rewards and access to exclusive features.
• Marketplace Aggregator: LooksRare combines liquidity from various NFT marketplaces, allowing users to find the best NFTs at the best prices.
• Bundle Offerings: Users can buy and sell NFTs in bundles, saving time and gas fees.

LooksRare (LOOKS) Key Products & Features

Here are some of LooksRare's key products and features:

• NFT Marketplace: This platform allows users to buy, sell, and create NFTs.
• LooksRare Staking: Users can stake LOOKS to earn LOOKS rewards and access to exclusive features.
• LooksRare Governance: LOOKS holders can participate in platform governance, voting on proposals and new features.
• LooksRare DAO: LooksRare DAO is a decentralized organization that will manage the platform and its future.

Also read: What is Wrapped HBAR (WHBAR)? Bringing Hedera Hashgraph to the DeFi World

What is LOOKS Token

LOOKS is an ERC-20 token used to power the LooksRare ecosystem. This token has several utilities, including:

• Governance: LOOKS holders can participate in platform governance, voting on proposals and new features.
• Staking: Users can stake LOOKS to earn LOOKS rewards and access to exclusive features.
• Rewards: NFT creators can receive a 10% royalty on each resale of their NFT, paid in LOOKS.
• Fees: LOOKS can be used to pay fees on the LooksRare platform.

Tokenomic Token LOOKS

Here is some LOOKS tokenomic information:

• Maximum Supply: 1,000,000,000 LOOKS
• Circulating Supply: 500,000,000 LOOKS
• Token Allocation:
  • 25% - Team
  • 25% - Advisors and Investors
  • 50% - Community

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LooksRare Fundamental Analysis (LOOKS)

Here are some fundamental LooksRare factors to consider:

• Team: The LooksRare team consists of experienced developers and entrepreneurs with a proven track record in the blockchain industry.
• Technology: LooksRare is built on the robust and secure Ethereum infrastructure.
• Community: LooksRare has a fast-growing community of over 100,000 active users.
• Adoption: LooksRare has gained significant traction, with over $1 billion in trading volume in its first few months of operation.

Comparison of LooksRare (LOOKS) & Competitors

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Expert Opinion About LooksRare (LOOKS)

Experts have mixed opinions about LooksRare. Here are some examples:

• Messari: Messari, a blockchain analytics company, believes that LooksRare has the potential to become “OpenSea for serious NFT collectors.”
• The Block: The Block, a blockchain news publication, praised LooksRare's royalty model, saying it "provides a stronger incentive for creators to continue creating high-quality content."
• CoinGecko: CoinGecko, a cryptocurrency data platform, notes that LooksRare has “seen tremendous growth” since its launch.

Founder and Team of LooksRare (LOOKS)

LooksRare was founded by Zoran Gospodinov, an entrepreneur and experienced blockchain developer. The LooksRare team consists of experienced developers, designers, and marketers with a proven track record in the blockchain industry.

Conclusion

LooksRare is an innovative NFT platform with several interesting features. The platform is still in the early stages of development, but has gained significant traction in a short time.

Some factors to consider before investing in LOOKS:

• Platform fundamentals: LooksRare has an experienced team, solid technology, and a fast-growing community.
• Royalty model: LooksRare's high royalty model can make NFTs more expensive for buyers.
• Competition: LooksRare competes with several other established NFT platforms, such as OpenSea and Rarible.

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To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn  Complete Guide How to Buy Crypto on Bittime .

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.