What exactly is LooksRare (LOOKS)?
LooksRare, also known as LOOKS, is a community-focused NFT marketplace. It intends to reward their traders, creators, and collectors. It takes pride in being founded "by NFT people for NFT people." The platform was launched with an airdrop to wallets with at least three ETH in transaction volume on OpenSea. In this article, I'll go over everything you need to know about LooksRare, as well as how to buy LOOKS.
The Community Approach of LooksRare
LooksRare's community-first approach is defined by three key pillars:
User appreciation. LOOKS are awarded to users who buy or sell NFTs on the platform.
Platform fees should be redistributed: Stakeholders receive 100% of the fees generated.
Instant payment to the creator. Creators will be paid at the time of sale.
The modular smart contract architecture of LooksRare enables the platform to gradually roll out new features. Future innovations include the ability to bid on all NFTs in a specific collection, bid on NFTs with a specific attribute, and cancel multiple orders at once.
What distinguishes LooksRare?
To begin, it distinguishes itself from OpenSea by providing a different culture than its competitors' top-down, corporate strategy for NFTs. LooksRare, like Sushi vs. Uniswap, competes with a more democratic and user-oriented culture against OpenSea, which has been chastised for its commercial approach. Its tokenomics reflect this, with the community receiving 75% of the total supply.
Second, LooksRare functions as a professional-looking platform. Users on LooksRare can exchange NFTs directly from their wallets, such as MetaMask. After connecting to the website, they can personalize their profile and begin buying and selling individual NFTs or entire collections. NFTs are either provided at a fixed price or, if the owner has posted an NFT for sale, users may bid on it. To settle all trades, ETH or WETH are used.
How can I get LooksRare (LOOKS)?
You can purchase LOOKS on MEXC by following the steps below:
1.Log in to your MEXC account and then select [Trade]. Select [Spot].
2.To see the available trading pairs, type "LOOKS" into the search bar. Consider the LOOKS/USDT pair.
3.Scroll all the way down to the [Spot] box. Enter the number of tokens you want to purchase. You can place a Limit order, a Market order, or a Stop-limit order. Consider the Market order. To confirm your order, click [Buy MUTE]. The purchased tokens will be stored in your Spot Wallet.