LooksRare Marketplace: What is all the hype about?

LooksRare marketplace is an NFT marketplace where the community comes first and trading rewards are given for marketplace participation. Buy or sell NFTs to earn your rewards. And what’s more, is that trading fees are 20% lower than on OpenSea. Combine that with the generous trading rewards of up to 165% APR offered by LooksRare and why would you go anywhere else?

About LooksRare Rewards

Trading rewards are calculated and distributed daily on LooksRare when you buy or sell NFTs. At the time of writing, approximately 1.4 million LOOKS, which is the native token to LooksRare, are set to be distributed in the next seven hours. Currently, one LOOK is trading at $1.94.

In order to earn even more rewards, you are able to stake your LOOKS for a cool 165% APR. The breakdown of the APR is like this: 100% APR in WETH (Wrapped Ethereum) and 65% in LOOKS. These are the rewards at the time of writing but it’s important to mention that they do fluctuate according to different contributing factors, such as token prices, trading volume, liquidity, and the amount staked to name a few. Trading fees that are collected by LooksRare marketplace are re-distributed amongst LOOKS stakers as rewards, and rates are adjusted every 24 hours based on the previous day’s activity.

Here’s a Tweet posted by LooksRare marketplace on the 25th March 2022 about how much rewards were distributed among their community:

How to Trade NFTs on LooksRare Marketplace

LooksRare trades on the Ethereum network and therefore an Ethereum compatible wallet is needed. We recommend you set yourself up with a Metamask wallet. If you wish to download the Metamask wallet then click here for Apple; or here for Android; and finally, here for Chrome.

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