Non-fungible token (NFT) marketplace Looksrare has released version two, also known as v2, which reduces protocol fees by 75%. According to Dune Analytics statistics, Looksrare was the 10th largest NFT marketplace in terms of number of traders over the past week.
NFT Market Protocol Looksrare Releases v2
NFT Market It looks weird announced the release of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare fees by 75% with v2. “Looksrare’s protocol fee is now a flat 0.5%, up from 2%,” the team noted in a statement. blog post. “Given the current market meta, we are removing refunds from creators for now.”
According statistics From Dune Analytics, Blur and Opensea traders dominate the market in terms of traders and volume market share this week. Looksrare is the 10th largest NFT marketplace in terms of traders and volume this week, according to metrics from Dune Analytics and dappradar.
Looksrare claims that users can save “~50% on gas fees compared to other marketplaces like Blur, and ~30% on gas fees compared to version one of Looksrare.” Also, Looksrare v2 will use ethereum (ETH) instead of wrapped ethereum (WETH). With Looksrare v2, users can make bulk purchases by adding “70+ NFTs to your cart”.
Also, Looksrare Announced that version one (v1) will be deprecated and a timeline for the process will be provided. “As of 7pm (UTC) on April 12, you will no longer be able to send POST v1 requests via the public API,” Looksrare said. Looksrare v1 will be fully terminated on April 13 and all operations will be migrated to v2. Looksrare also shared the new public API endpoints for v2 in the same blog post.
What do you think of Looksrare’s decision to deprecate version one and migrate all operations to version two? Share your thoughts in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons, Featured Image by David Esser / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
