NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases

1 year ago

Looksrare, the non-fungible token (NFT) marketplace, has launched mentation two, besides known arsenic v2, which reduces protocol fees by 75%. According to statistic from Dune Analytics, Looksrare was the tenth-largest NFT marketplace successful presumption of trader number during the past week.

NFT Market Protocol Looksrare Launches v2

NFT marketplace Looksrare announced the motorboat of mentation 2 (v2) connected April 6, 2023. One of the important changes is the simplification of Looksrare’s fees by 75% with v2. “Looksrare’s protocol interest is present a fixed 0.5%, down from 2%,” the squad noted successful a blog post. “Given the existent marketplace meta, we’re removing creator rebates for the clip being.”

According to stats from Dune Analytics, Blur and Opensea traders predominate the marketplace successful presumption of traders and marketplace stock successful measurement this week. Looksrare is the tenth-largest NFT marketplace successful presumption of traders and measurement this week, according to metrics from Dune Analytics and Dappradar.

Looksrare claims that users tin prevention “~50% connected state fees compared to different marketplaces similar Blur, and ~30% connected state fees compared to Looksrare mentation one.” In addition, Looksrare v2 volition usage ethereum (ETH) alternatively of wrapped ethereum (WETH). With Looksrare v2, users tin marque bulk purchases by adding “70+ NFTs to your cart.”

Moreover, Looksrare announced that mentation 1 (v1) volition beryllium deprecated and provided a timeline for the process. “As of 7 p.m. (UTC) connected April 12, you’ll nary longer beryllium capable to POST v1 orders via the nationalist API,” Looksrare said. Looksrare v1 volition beryllium wholly sunsetted by April 13, and each operations volition beryllium migrated to v2. Looksrare besides shared the caller nationalist API endpoints for v2 successful the aforesaid blog post.

What bash you deliberation of Looksrare’s determination to deprecate mentation 1 and migrate each operations to mentation two? Share your thoughts successful the comments conception below.

Jamie Redman

Jamie Redman is the News Lead astatine Bitcoin.com News and a fiscal tech writer surviving successful Florida. Redman has been an progressive subordinate of the cryptocurrency assemblage since 2011. He has a passionateness for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written much than 6,000 articles for Bitcoin.com News astir the disruptive protocols emerging today.

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