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New NFT marketplace LooksRare allows traders to earn rewards

LooksRare, a not too long ago launched nonfungible token, or NFT, market, says it desires to index all NFT collections on the Ethereum blockchain. The location went stay on Monday with a token airdrop.

Created by two nameless co-founders, generally known as Zodd and Guts, LooksRare claimed to be made “By NFT Folks, for NFT Folks.” According to its weblog announcement, the LooksRare crew is “bored with the deplatforming of creators, and the decision-makers who worth enterprise over group, in search of IPO as an alternative of benefiting the communities that obtained them there.”

Their alleged answer is to supply a market that rewards the platform’s contributors and creators. Customers who purchase or promote NFTs from eligible collections can earn its native utility LOOKS tokens. OpenSea customers who traded 3 ETH or extra between June 16–Dec. 16, 2021 are eligible for an airdrop of LOOKS Tokens.

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As well as, the platform has a 2% commonplace payment on all NFT trades, which is decrease than OpenSea’s 2.5%, that goes to LOOKS token stakers. And customers can commerce NFTs with Ether or wrapped ether (WETH). On the time of publication, LOOKS traded at 0.0008748 WETH ($2.69).

The LooksRare website was down for just a few hours on Monday, which triggered some customers to expertise difficulties whereas connecting their wallets and finishing listings. In line with the undertaking’s Discord, the location was below a distributed denial-of-service assault, or DDoS, that means that its community was overwhelmed with malicious site visitors.

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On Monday, one other NFT market launch announcement was made by the information group Related Press, which plans to debut its photojournalism NFT platform on Jan. 31.

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