AppearanceWeird has introduced its enhanced V2 platform, which offers users a range of new features and considerable cost savings. One of the most significant updates will see trading fees drop from 2% to 0.5%, which translates to up to 75% savings for sellers. The addition of gas efficiency contracts will also allow users to save approximately 30% on gas fees compared to the previous version.
🚀 Help! 🚀
Released rn:
– The fee was reduced to 0.5%
– Gasoline 50% cheaper than Blur
– Massive listing of a single firm
– Buy more than 70 NFTs at a time
– Sellers get ETH instead of WETHFull details 👇https://t.co/3XXGeGK2r2
—LooksRare (@LooksRare) April 6, 2023
Another critical feature of LooksRare V2 is that sellers will now receive ETH directly instead of WETH. This will simplify the transaction process and eliminate additional conversion costs. Smart contracts currently support buy and sell orders in bulk, which is useful for users who want to perform multiple trades simultaneously. Additionally, with V2 Custom Recipient Aggregators, users will be able to purchase NFTs with one wallet and send them to another.
V2 also includes an option for sellers to list their NFTs for sale in USD prices. This update means that costs will be set in US dollars, providing clarity on pricing and reducing risks associated with market volatility. LooksRare V2 has also introduced an affiliate scheme, which allows users to refer friends and receive a share of the protocol costs.
LooksRare has stated that V2 is the foundation for efficient operation in the future. The company anticipates a time when NFTs will be significantly larger than they are today by a factor of 10x, 100x, or 1,000x. The enhanced version offers users reduced costs, options for bulk listings and purchases, and reusable signatures, saving them valuable time and money.
LooksRare V2 Launches Amid Fierce Competition From OpenSea and Blur
The long-awaited release of LooksRare V2 marks a crucial milestone in today’s competitive NFT markets, where innovation and cost-cutting measures are at the forefront. LooksRare has emerged as a strong player in this context, challenging other leading NFT marketplaces such as OpenSea and Blur. In particular, Blur has established itself as one of the 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 list, general reception of the V2 platform has been positive. Future features such as enhanced collectible bidding, auction forms to sell NFTs, fixed USD price listings, and trait-based bidding are expected to strengthen LooksRare’s position in the market.
To ensure that its users can take advantage of new features and improvements, LooksRare also announced that version 1 will be discontinued. Users will no longer be able to post v1 auctions via the public API after April 12, and all current v1 auctions will be removed from the website on April 13. Finally, smart contracts will be disabled via an admin function at 11:00. am UTC on April 13.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
NFT and Web3 Ambassador. Bullish on everything related to Blockchain.
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