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New NFT marketplace LooksRare allows traders to earn rewards

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LooksRare, a lately launched nonfungible token, or NFT, market, says it needs to index all NFT collections on the Ethereum blockchain. The positioning went dwell on Monday with a token airdrop.

Created by two nameless co-founders, often called Zodd and Guts, LooksRare claimed to be made “By NFT Individuals, for NFT Individuals.” According to its weblog announcement, the LooksRare staff is “bored with the deplatforming of creators, and the decision-makers who worth enterprise over group, searching for IPO as an alternative of benefiting the communities that received them there.”

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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% normal charge 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 a couple of hours on Monday, which brought on some customers to expertise difficulties whereas connecting their wallets and finishing listings. In keeping with the mission’s Discord, the location was underneath a distributed denial-of-service assault, or DDoS, which 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.