Whats LooksRare?
LooksRare is a new NFT marketplace that just recently launched.
While OpenSea just raised $300 Million in additional funding, they’ve struggled to stay online during the NFT bull market that has continued to start 2022. However, they do want to make it clear they are new, and there will be updates along the way:
“Before you get stuck in, please bear in mind that this is literally day one. There are a lot of features still in development, but we wanted to release ASAP so we can keep building together with the community right from the start.”
Airdrop
One of the newest Web3 trends is to do an airdrop for OpenSea users. $SOS was the first, but now LooksRare airdropped $LOOKS token to anyone who’s traded over 3 $ETH on OpenSea.
If you haven’t claimed your $LOOKS airdrop yet, you can do so here. It pays to interact with Web3 protocols as early users are rewarded. This is on the flipside of Web2 where they’d engagement farm or make you take a survey for a shot at a smol gift card.
I remember going to a mall as a kid and seeing a shiny new car in the most trafficked area. People would willingly give their information for the microscopic chance of winning the car.
In Web3, it’s all about rewarding your power users first, having them engage, get feedback, and in turn tweeting and telling the world about it.
What’s Different About LooksRare?
LooksRare claims to be a community-first NFT marketplace that actively rewards “traders, collectors, and creators for participating.” This is a shift from VC-owned OpenSea and CoinBase because isn’t that what Web3 is all about?
While this is a step in the right direction, LooksRare is making it clear that
“There might be delays, there could be server overloads, and ngl some weird visual bugs are probably going to need squashing.”
It’s also interesting to note that LooksRare lists CryptoPhunks delisted from OpenSea and launched their own decentralized marketplace.
Things will continue to get interesting in Web3 as more tools to decentralize away from institutions and centralized media. Trust is at an all-time low when it comes to government-run agencies, and it appears we’ve hit a turning point in being able to separate ourselves from their power and influence.
LooksRare is one example of what will most likely be many more!