Looksrare Upgrades Platform with V2 Launch

looks rare introduced an enhanced V2 platform that offers users a variety of new features and significant cost savings. One of the most significant upgrades is the reduction of transaction fees from 2% to 0.5%. This translates into savings of up to 75% for sellers. The addition of Gas Efficient Contracts also allows users to save about 30% on gas bills compared to previous versions.

𝗟𝗼𝗼𝗸𝘀𝗥𝗮𝗿𝗲 𝗩𝟮 𝗶𝘀 𝗻𝗼𝘄 𝗹𝗶𝘃𝗲!

Expanded rn:
– Fee reduced to 0.5%
– Gas is 50% cheaper than Blur
– Onesig bulk listing
– Buy 70+ NFTs at once
– Sellers receive ETH instead of WETH

Full Dietz 👇https://t.co/3XXGeGK2r2

— Looks Rare (@LooksRare) April 6, 2023

Another important feature of LooksRare V2 is that sellers now receive ETH directly instead of WETH. This simplifies the trading process and reduces additional conversion costs. Smart contracts currently support bulk buy and sell orders. This is useful for users who want to conduct multiple trades at the same time. Additionally, with the V2 Custom Recipient Aggregator, a user can buy NFTs for her in one wallet and send them to another.

V2 also includes options for sellers to sell their NFTs at USD prices. This upgrade means that costs will be set in US dollars, providing clarity in pricing and reducing risks associated with market volatility. LooksRare V2 also introduces an affiliate scheme, allowing users to refer friends and receive a portion of the protocol’s cost.

LooksRare says V2 is a key foundation for efficient functionality in the future. The company predicts a time when NFTs will be 10x, 100x, or 1,000x larger than they are today. The upgraded version offers users cost savings, bulk purchase and listing options, and reusable signatures, helping them save valuable time and money.

LooksRare V2 Launches Amid Heavy Competition from OpenSea and Blur

The long-awaited release of LooksRare V2 marks an important milestone in the ongoing race among the NFT markets where innovation and cost-cutting measures are at the forefront. In this context, LooksRare has emerged as a strong player, challenging other major NFT marketplaces such as OpenSea and Blur. In particular, Blur has established himself as one of his most formidable rivals in the NFT industry, and its growing popularity poses a significant threat to established players like LooksRare.

While some users initially expressed skepticism about the level of incentives for good token collections to be listed, the overall evaluation of the V2 platform is positive. Future features such as enhanced collection offers, an auction form for selling NFTs, fixed price listings in USD, and trait-based offers are expected to strengthen LookRare’s position in the market.

To ensure that new features and improvements are available to users, LooksRare also announced that version 1 will be retired. Users will not be able to post version 1 auctions via the public API after his April 12th, and all current v1 auctions will be removed from the website on his April 13th. Finally, the smart contract will be deactivated through the admin function at 11:00 AM UTC on April 13th.

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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.