About LooksRare (LOOKS)
LooksRare is a nonfungible token marketplace supporting the trading of ERC-721 and ERC-1155 tokens. Launched in early 2022 by an anonymous team of developers, the platform is heavily inspired by the popular OpenSea marketplace. Unlike the more established application, LooksRare features a native token that was distributed via airdrop to qualifying OpenSea traders. Users staking the LOOKS token receive a share of the fee revenue generated from the platform's NFT sales.
In addition to its native token, there are several other differences between LooksRare and OpenSea. These include the ability for prospective buyers to simultaneously bid on an entire NFT collection and greater dependence on Wrapped ETH to mitigate the impact of Ethereum gas fees where possible.
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