New NFT marketplace LooksRare allows traders to earn rewards

LooksRare, a precocious launched nonfungible token, oregon NFT, marketplace, says it wants to scale each NFT collections connected the Ethereum blockchain. The tract went unrecorded contiguous with a token airdrop.

Created by 2 anonymous co-founders, known arsenic Zodd and Guts, LooksRare claimed to beryllium made “By NFT People, for NFT People.” According to its blog announcement, the LooksRare squad is “tired of the deplatforming of creators, and the determination makers who worth concern implicit community, seeking IPO alternatively of benefiting the communities that got them there.”

Their alleged solution is to connection a marketplace that rewards the platform's participants and creators. Users who bargain oregon merchantability NFTs from eligible collections tin gain its autochthonal inferior LOOKS tokens. OpenSea users who traded 3 ETH oregon much betwixt June 16 - Dec. 16, 2021 are eligible for an airdrop of LOOKS Tokens.

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In addition, the level has a 2% modular interest connected each NFT trades, which is little than OpenSea’s 2.5%, that goes to LOOKS token stakers. And users tin commercialized NFTs with Ether oregon wrapped ether (WETH). At the clip of publication, LOOKS traded at 0.0008748 WETH ($2.69).

The LooksRare tract was down for a fewer hours connected Monday, which caused immoderate users to acquisition difficulties connecting their wallets and completing listings. According to the project's discord, the tract was nether a distributed denial-of-service attack, or DDoS, meaning that its web was overwhelmed with malicious traffic.

Related: 5 NFT marketplaces that could topple OpenSea successful 2022

On Monday, different NFT marketplace motorboat announcement was made by the quality enactment Associated Press who plans to debut its photojournalism NFT level connected Jan. 31.