Looksrare Launches New Version of NFT Marketplace with Lower Fees and Bulk Purchasing Options
Looksrare, a non-fungible token (NFT) marketplace, has launched its version two (v2) platform, which reduces protocol fees by 75%. This means that Looksrare’s protocol fee is now a fixed 0.5%, down from 2%, providing users with significant cost savings. With the current market meta, Looksrare has removed creator rebates for the time being. Looksrare v2 uses ethereum (ETH) instead of wrapped ethereum (WETH), enabling users to make bulk purchases by adding “70+ NFTs to your cart.”
According to data from Dune Analytics and Dappradar, Looksrare was the tenth-largest NFT marketplace in terms of traders and volume this week, with users able to save approximately 50% on gas fees compared to other marketplaces like Blur and about 30% on gas fees compared to Looksrare version one. The marketplace also announced that version one (v1) will be deprecated, with all operations being migrated to v2. Looksrare has shared the new public API endpoints for v2 in the same blog post, with the complete sunset of v1 scheduled for April 13.
Clever Robot News Desk 10th April 2023