LooksRare is a community-driven NFT marketplace that rewards active traders, collectors, and creators. On the whole, L o k s Rare is not a simple "fork product" or "imitation product" of Opensea. L o ok s Rare is built from scratch , which also ensures that the product can maintain the best quality during subsequent updates and iterations. Good autonomy and flexibility . Next, let’s take a closer look at what the new features are.
1. Mixed payment of ETH and WETH
In OpenSea , ETH is used to pay the buyout price, and WETH is used for bidding . Sometimes users need to convert the two , which will not only consume Gas fees , but also be extremely cumbersome to operate. The mixed payment of ETH and WETH supported by LooksRare can solve this problem well.
2. Instant royalties
O penSea will distribute royalties to creators every two weeks , while on the LooksRare platform , every transaction will distribute royalties to creators instantly, which will allow creators to get more sufficient liquidity and will also motivate More creators publish work on LooksRare .
3. One- click quotation
On existing trading platforms such as OpenSea , we are very proficient in the operation of pending sell orders , but there has never been a platform that supports users with "one-click quotation" . Nowadays, there are more and more projects that issue tens of thousands of NFTs at every turn . These non-homogeneous tokens are becoming more and more homogeneous. This also makes many people not care about the appearance of the NFT they bought when buying , but only care about the appearance of the NFT they bought. which series .
For example, many people want to buy a Bored Ape , and they don't care what the Bored Ape they bought looks like, as long as they have a Bored Ape. One is that it can be regarded as their investment , and they can sell it at a profit when the price rises ; but if they own any one, they can join Bored A pe, an attractive community for people.
Now if you want to spend 70 ETH to just buy a Bo re d A pe , what do you need to do? First you need to convert 70 ETH into WETH, then write a piece of code to bid for B or ed Ape in the market in batches , and finally wait for a seller to accept your offer . And if you have 140 WETH in your wallet but you only want to buy one Bo red Ape, you need to cancel the order in batches immediately after one is sold , which will consume a huge gas fee. The threshold for writing code is very high. If you don’t know how to write code, you need to manually place orders one by one, and the process is extremely cumbersome .
LooksRare provides a " one- click quotation" function that everyone can easily use , and all open orders on the LooksRare platform can be canceled with one click, which greatly improves the user experience .
