LooksRare (LOOKS) Price

Lookrare is a decentralized NFT marketplace that puts the community first. Unlike other NFT platforms that prioritize profits over their user base, Lookrare rewards its traders, token stakers, creators, and collectors for participating on the platform. By staking their crypto LOOKS tokens, users can earn a percentage of the platform's transaction fees and receive additional benefits such as reduced fees, access to exclusive NFT drops, and more.

The LOOKS token is the backbone of Lookrare's ecosystem. It is used to power the platform's governance and incentivize user participation. Users can stake their LOOKS tokens to contribute to the platform's decision-making process and receive rewards in return. The more LOOKS a user stakes, the more influence they have over the platform's direction.

Lookrare also has a unique feature called "unlimited royalties," which allows creators to earn a percentage of the resale value of their NFTs indefinitely. This incentivizes creators to continue producing high-quality content for the platform and rewards them for their contribution to the ecosystem.

LooksRare's modular system allows for secure custom-built smart contracts with standardized signatures that define the execution scope, enabling the rollout of new features over time. This includes upcoming interactions such as collection offers, trait offers, and multi-cancellation.

LooksRare has designed its technical architecture for scalability, speed, and security using cutting-edge technology, including powerful search infrastructure and implementing on-chain standards like EIP-712 and ERC-2981. The design includes contracts, database, API, front-end, and search, from the ground up. Compatibility has been ensured for deployment on ETH scaling solutions when they become widely available.