LookRare: Is the NFT trading platform for better signaling than OpenSea?

OpenSea faces unprecedented turmoil by the end of 2021, and new CFO terms bring unicorns to their knees. There are a lot of complaints about OpenSea.

But still awaiting future changes to OpenSea, dissatisfied people with OpenSea now force them to constantly seek out new NFT platforms, eagerly waiting for the new king to overcome the old one and destroy OpenSea in the market.

skin in sport

This is the expectation of the majority of Web3 application users, and it is also the reason why the majority of users are dissatisfied with OpenSea. It is English slang which means "to share the profits" in Chinese. Web3 users want to reward their sponsors based on their mature application.

Using OpenSea as an example, OpenSea can be very profitable and have nice revenue data, and the OpenSea IPO option means that the result of collaboration between Web3 users can share the pie with Web2 residents. It's not hard to see why OpenSea's IPO plans are being rejected by almost all users.

Now the people are unable to change the Opena web3 application into a real application, but I waited to pull the web3t application and Opectiona pulled wrists.

In the world of Web3, brands and communities are inextricably linked. Giving back plans is not only beneficial to members of the financial community, but they also say to the community as a whole, “Thank you for your support. The results should be shared. The mode no longer exists. It is not only the product of the communities, but also the result of the unification of the communities.

Will OpenSea be absorbed?

A few days ago, OpenDAO "provided tokens for OpenSea" and carried out an SOS token drop on consumer products based on OpenSea, which many see as vampire attackers like Sushiswap giving tokens to people using Uniswap. not found.

OpenDAO's major sponsors also announced that they would invest $ 100 million to help grow the OpenDAO ecosystem, and OpenDAO announced a preview of the NFT platform shortly after the airdrop. It stimulated people's appetites.

But does OpenSea easily suck blood?

Larry Cermak, vice president of the Block Research Institute, commented on the thinking of internet users who fork OpenSea, "Forking of OpenSea is impossible." 0, construction is a big project.

Of course, you can directly grab channel data and set up major weather feed for OpenSea users or copy other open source DeFi contracts to quickly share DeFi games like contract mining, but we want to be a better user and a better platform. experience.

Larry cermak said, "They will take months,", if there is no time planning before, you should take longer.

About Lux Rare

If OpenDAO is the immediate target, LookRare is the long-awaited plan.

Already in August 2021, LooksRare started planning and saying that this is a better NFT trading platform, an NFT trading platform that is owned by the community. After months of inactivity, LookRare has finally revealed its unknown.

As a platform of the NFT industry, LookRare has achieved easy business integration, and LookRare offers a unique portfolio of OpenSea, which gives LookRare the opportunity to become a better engaging NFT community marketing platform.

Let's take a look at LookRare's previous experience with OpenSea.

Overall, LookRare isn't just “split ends” or “bogus” products. LookRare is designed from the ground up to ensure that products have the highest level of independence and flexibility in the next update.

Let's take a look at the new one.

(1) ETH, WETH mixed payment

In OpenSea, ETH is used to pay a royalty, WETH is used for competition, and users sometimes have to switch between the two, which is not only expensive, but also very easy to operate. LookRare's combined ETH and WETH support can solve this problem very well.

(2) Instant royalty

OpenSea distributes debt to developers every two weeks, and on the LookRare platform, each exchange can provide developer costs in real time, providing developers with good value and encouraging many developers to advertise their work on. LookRare.

(3) One-click declaration

Existing businesses like OpenSea are familiar with retail functionality, but lack a platform that supports “one-click quotes” for users. Recently, more and more projects have announced tens of thousands of NFTs. These inhomogeneous tokens have become more homogeneous. Moreover, many people ignore the NFT as when they bought it, and the origins of the NFT series.

For example, a lot of people want to buy a boring monkey, but they don't see what they will look like until they have a boring red. The first is that they can see it as their investment and sell it to make money when the price goes up, but have a self-indulgence that allows them to join the boring monkey community.

Now how would you like to buy a random bored monkey for 70 ETH? You need to convert 70 ETH to WETH first, then enter the numbers to batch bid for the bored monkey in the store and finally wait for the seller to accept the request.

And if you have 140 WETH in your wallet but want to buy only Bored Ape, you have to cancel the bulk order immediately after the exchange, which will cost you a lot of fuel. Since the beginning of writing code is very advanced, if you don't know how to code, you have to order by hand, and the process is very cumbersome.

LookRare has an easy-to-use “one-click statement” feature, which allows you to eliminate all pending orders on the LookRare platform with one click, thereby improving the user experience.

Second, let's see why LookRare is a community with an NFT trading platform.

As mentioned above, in the age of Web3, campaigns, brands, and communities are inextricably linked, and LookRare decided to provide tokens to show users the revenue.

LooksRare will announce LOOKS tokens, 75% of which will be available to the community, some of which will be a freebie for the drop and the rest will be used to support the token guarantee and the trading platform. Among them, the airdrop is open and can be posted on the legal site until January 20.

The key to keeping all that sound healthy is whether the LOOKS token can hold its value for a long time. For tokens, you have to go through 3 levels: utility-index-currency.

The first level requires different events to be added to the token to increase the value of the token, and the rich user pushes the token to the second level, where the token actually indicates the project and what to do next. Once the community is prosperous and prosperous, the tokens reach the third level.

The most important data used in the first phase of LOOKS is the revenue share from token revenue. OpenSea platform revenue value has been turned into a flashing graph in financial information.

And the share of LookRare platform revenue is distributed to all platform users. Users can engage in LOOKS to share platform revenue, and more importantly, users receive WETH currency, not platform currency.

As LookRare products continue to grow, users earn more and more money every day, which encourages more and more people to become LOOKS tokens, further stabilizing the value of LOOKS tokens and l market access.

So the question now is how this new platform can get food out of OpenSea's mouth.

LookRare has developed a detailed process. Once the user receives the drop gift, there are some important tasks that the user needs to complete. This process allows users to switch from “airdrop reception” to “user platform”. This change will support the foundations. More and more platform equipment.

Since assets are low, NFTs trade on the platform with riches and supplement a variety of “inventories”. And LookRare has also created a "mining industry", users can benefit when trading on the platform, which will also support the industry behavior of LookRare users, according to data Legally, LookRare has done an excellent work i did. . Filter most offers. Be prepared to shut down offenders on the spot.

OpenSea currently owns 97% of the NFT market, but the website declines more and more often, there are some bug fixes, and the user experience decreases as the number of users increases, makes people happy. Newcomers also have great opportunities for newcomers like LookRare.

We are waiting for someone to break free and become a candidate for OpenSea, only healthy competition can create a better environment and support the development of the whole system. ~