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NFT Marketplace LooksRare goes live with Vampire attack on OpenSea By BTC Peers

by Mike Robinson

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LooksRare on NFT Marketplace goes live for Vampire Attack on OpenSea

LooksRare, a new NFT platform, went online earlier today to challenge OpenSea, the market leader in NFT. This platform claims to be user-friendly and considers users’ wants, consists of novel features, and, more importantly, a community-focused marketplace.

This marketplace explained in a blog that they keep track of all NFTs on Blockchain. It allows for trades and offers to be made. This platform allows users to buy and sell NFTs using ether, wrapped ether (WETH), both simultaneously, or both. They can also make WETH-based offers.

This platform was created by Zodd, and Guts (unknown co-founders). Its nine members are mostly engineers.

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OpenSea is under attack by vampires

LooksRare’s design is inspired by LOOKS token (a new platform) which offers rewards to users as well as a way for existing OpenSea users to be lured. The token was launched at 8:15 UTC and is being traded on a decentralized exchange platform – . Its starting price was $4.71 before dwindling to its current price of $2.69, having had a total supply of 1 billion tokens, giving it a diluted value of $2.69 billion, which is dependent on the token’s availability in the market.

OpenSea big-spending NFT users will find this marketplace attractive. It allows them to get LOOKS tokens at no cost if they have traded three or more ethers (ETH) in the period June 16 to December 16. This is a free market that aims at attracting NFT spenders. This is known as a ‘vampire attack’ in the crypto world, since this platform uses tokens to lure pre-existing users to a different platform. LooksRare follows closely Infinity as the second major effort to overthrow OpenSea.

You can also get LOOKS tokens for anyone selling or buying NFTs from genuine collections. However, this offer is not available until Tuesday. After this, there is a 2.2% transaction fee and LOOKS tokens are available to those who have staked. Token holders can also get a 30% APR. This means the existing supply will continue to grow at an increasing rate.

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