According to an April 6 release from LooksRare, the nonfungible token (NFT) marketplace has upgraded to version 2, decreasing costs by 75% and incorporating various additional features.
According to the firm, in version 2, sellers will receive Ether.
For most sales, ETH is used instead of Wrapped Ether (WETH), and smart contracts enable for bulk buying and selling orders if a customer wants to place many trades at the same time. Furthermore, aggregators can also support specific receivers, allowing users to purchase an NFT with one wallet and send it to another.
The announcement received mainly positive feedback, with many LooksRare users believing the additional capabilities will give a significant challenge to competitors such as OpenSea and Blur.
But, not everyone was sure that LooksRare v2 would be enough of a departure to entice people away from other platforms. Some users complained that v2 still does not give good token incentives or enable for a sufficient number of collections to be featured.
When LooksRare decided to cut creator royalties in October, it sparked some debate. Yet, it has profited from the recent increase in NFT prices.
