CryptoMediaClub
Tuesday, June 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home NFT

NFT Marketplace LooksRare Introduces Version 2 Offering Reduced Fees

12.04.2023
A A
0
123
VIEWS
ShareShare

NFT Marketplace LooksRare Introduces Version 2 Offering Reduced Fees

  • In LooksRare v1, the commission rate was 2%. In version 2, this was cut down to 0.5%.
  • In version 2, sellers get Ether rather than Wrapped Ether (WETH) for most transactions.

The fees on LooksRare, a marketplace for non-fungible tokens (NFTs), have been reduced by 75% as part of the platform’s update to version 2, the firm said on April 6.

In LooksRare version 1, the commission rate was 2%. In version 2, this was cut down to 0.5%. Moreover, v2 contains contracts that are more gas efficient, resulting in a 30% reduction in gas costs for consumers.

According to the firm, in version 2, sellers get Ether rather than Wrapped Ether (WETH) for most transactions, and users may submit bulk buy and sell orders using smart contracts. Users may now use one wallet to purchase an NFT and transfer it to another wallet thanks to the special recipient’s feature added by aggregators.

Token pricing, rather than ETH, may be listed for NFTs for sale by sellers. This includes listing NFTs for sale at a set USD price, with buyers expected to pay the equivalent in ETH.

Version 1 Phased Out

In a second article on April 7, the team announced that LooksRare v1 would be phased out. The front end of the app will stop supporting version 1 auction posting over the public API on April 12. On April 13 at 10:00 am UTC, the administration will deactivate the smart contracts through an in-app menu, and the website will no longer host any v1 auctions.

Many LooksRare users were optimistic about the news, thinking that the additional additions would make it a formidable rival to OpenSea and Blur.

Nevertheless, not everyone was confident that the improvements made in LooksRare v2 would be sufficient to attract consumers from competing services. Several users have complained that even with v2, not enough collections can be offered or adequate token incentives are provided.

Recommended For You:

Solana Introduces ‘State Compression’ Approach Reducing NFT Minting Cost

Share9Tweet6ShareSharePin2

Related Posts

Tiger Global Reportedly Shrinks Stakes in BAYC and OpenSea
NFT

Tiger Global Reportedly Shrinks Stakes in BAYC and OpenSea

01.12.2023
0

The firm reportedly reduced its holdings in BAYC by 69% and OpenSea by 94%. Earlier, Coatue Management wrote down 90%...

Read moreDetails
What is Mark Cuban’s Take On ZK Technology and NFTs in Real Estate?

What is Mark Cuban’s Take On ZK Technology and NFTs in Real Estate?

28.11.2023
Solana’s Mad Lads NFTs Hit Record-Breaking All-Time High

Solana’s Mad Lads NFTs Hit Record-Breaking All-Time High

28.11.2023
Season 2 of TinyTap Publisher NFTs by Animoca Brands Declared Sold Out

Season 2 of TinyTap Publisher NFTs by Animoca Brands Declared Sold Out

28.11.2023
CoinGecko Boosts NFT Data Integration with Acquisition of Zash Platform

CoinGecko Boosts NFT Data Integration with Acquisition of Zash Platform

23.11.2023
Load More
Next Post
Reddit Gen 3 Avatars Drops in April

Reddit Gen 3 Avatars Drops in April

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Elon Musk’s Pepe Meme Tweet Turns $1,000 Right into a Fortune – Might PEPE 100x From Right here?

Elon Musk’s Pepe Meme Tweet Turns $1,000 Right into a Fortune – Might PEPE 100x From Right here?

5 months ago
Sweat Economy Puts Forth Largest Governance Proposal in Web3

Sweat Economy Puts Forth Largest Governance Proposal in Web3

2 years ago
Franklin Templeton’s FOBXX Available on Aptos Network

Franklin Templeton’s FOBXX Available on Aptos Network

8 months ago
14 Suspected South Korean ‘Kimchi Premium’ Crypto Traders Cleared

14 Suspected South Korean ‘Kimchi Premium’ Crypto Traders Cleared

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

Strategy Doubles Down on Crypto with $75M Purchase of 705 Bitcoin

Crypto Traders Make Urgent Shift to Short-Term Strategies Amid Market Uncertainty

CAR to Tokenize 1,700 Hectares of State Land

Czech Minister Steps Down, Opposition Calls for Govt to Resign Over $46M in BTC ‘Donated’ from Convicted Criminal

Trending

Bitcoin’s 8% correction flushed leverage but set stage for short term turbulence
Analysis

Bitcoin’s 8% correction flushed leverage but set stage for short term turbulence

03.06.2025
0

Bitcoin (BTC) dropped nearly 8% from its May 22 all-time high, near $112,000, ending a 50% climb...

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’

Russian Investigators ‘Seized $8.2M Worth of Crypto from Hydra Darknet Server Chief’

03.06.2025
Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

Whale Signal or Exit? XRP Price Prediction After 44M Tokens Leave Exchange

03.06.2025
CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

CertiK Says $302M Lost to Web3 Scams, Hacks, and Exploits in May

02.06.2025
Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

Bitcoin Correction: Is This the Opportunity for a Stunning New All-Time High?

02.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz