NFT

LooksRare NFT Selling Fees Are Waived For 30 Days To Attract Users To Trade

Key Points:

Waiving all LooksRare NFT selling fees for 30 days starting November 16, the V2 promises sellers 100% of the listed price until December 16, 2023.
April’s V2 upgrade by LooksRare slashes trading fees by 75%, from 2% to 0.5%.
Users anticipate LooksRare’s V2 to challenge rivals, but mixed reactions prevail.

In a significant move, LooksRare has announced a groundbreaking initiative to waive all LooksRare NFT selling fees for NFT sales on its V2 market and Seaport implementation.

LooksRare NFT Selling Fees Are Waived For 30 Days To Attract Users To Trade 2

LooksRare NFT Selling Fee Waived for 30 Days on V2 Platform

This bold step, effective from November 16, extends for the next 30 days, allowing sellers on the LooksRare platform to enjoy 100% of the listed price, with no exceptions, until 1:00 PM (UTC) on December 16, 2023.

This announcement follows LooksRare’s April upgrade to V2, where trading fees were slashed by 75%, accompanied by the introduction of various new features. Notably, the transition from LooksRare V1, which charged a 2% fee per trade transaction, to V2 has further reduced fees to 0.5%. V2 also introduces smart contracts optimizing gas fees, potentially saving users up to 30% compared to the previous version.

Game-Changing Features in LooksRare V2 Spark Mixed Reactions Among Users

In a strategic move away from WETH, sellers will now directly receive ETH. The new smart contracts facilitate bulk buy-or-sell transactions, providing increased flexibility for users. Moreover, buyers can use a single wallet for NFT transactions, even if the receiving wallet differs, mirroring a feature seen on platforms like OpenSea.

While many LooksRare users anticipate that these updates will pose a formidable challenge to competitors like OpenSea and Blur, there are mixed reactions within the community. Some users express satisfaction with all LooksRare NFT selling fees reduction and enhanced functionality, while others note the absence of token incentives and the incomplete listing of NFT collections, comparing it unfavorably to existing competitors.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.