LooksRare, An OpenSea’s Rival, Had Over $100M Trading Volumn Just 1 Day After Launch

OpenSea may have finally found a genuine rival: LooksRare.

According to a Dune Analytics, this marketplace has seen $105 million in trade volume in the past 24 hours, resulting in platform fees of 613 ETH (almost $2 million) to be distributed tokens to $LOOKS stakers.

Zodd, co-founder of LooksRare, tweeted today on Twiter:

On January 10, OpenSea, the largest NFTs marketplace at the moment, recorded $169 million in trade volume, edging out LooksRare, which had $105 million daily volume on Tuesday.

Investors believe LooksRare has temporary influence at this point. A $LOOKS airdrop worth an average of $3,500 has been claimed by over 75,000 Ethereum addresses, and the token is on the verge of breaking into the top 200 cryptocurrencies by market cap, up 38% on the day to $3.58.

NFT traders have been clamoring for OpenSea to release a token and decentralize parts of its operations for a long time. Critics argue it’s a rent-seeking middleman in a decentralized environment because of its protecting IP, delisting hacked and exploited NFTs. Lately, OpenSea was estimated at $13.3 billion.

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