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LooksRare Launches V2 – A Game-Changer For The NFT Market

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On April 7th, it was announced that the NFT market, LooksRare, officially announced the launch of the V2 version, aiming to further reduce platform protocol fees and gas fees to co

LooksRare Launches V2 - A Game-Changer For The NFT Market

On April 7th, it was announced that the NFT market, LooksRare, officially announced the launch of the V2 version, aiming to further reduce platform protocol fees and gas fees to compete with Blur and OpenSea Pro. According to information disclosed by LooksRare, the protocol fee for LooksRare V2 will be significantly reduced by 75% (from 2% to 0.5%), the gas fee will be reduced by 50%, and sellers will also receive ETH directly instead of the previous WETH. In addition, LooksRare also stated that the new version allows for the bulk listing and purchase of over 70 NFTs in a single transaction, and the transaction will support reusable signatures.

NFT Market LooksRare V2 goes live, agreement fees will be reduced by 75%

The NFT market has been a buzz since the beginning of 2021. Everyone is talking about it, and rightfully so. Non-Fungible Tokens (NFTs) have revolutionized the world of art and digital assets. NFTs have brought transparency and authenticity to the digital world by creating a unique digital fingerprint for each asset. On April 7th, LooksRare announced that it was launching its V2 version, taking NFT trading to the next level.

What Is LooksRare?

Before diving into the nitty-gritty of LooksRare V2, let’s first understand what LooksRare is. LooksRare is a platform that specializes in the trading and auctioning of NFTs. LooksRare offers artists and creators a unique platform to showcase and sell their digital creations. The platform also offers an opportunity for buyers and collectors to purchase unique and authentic digital assets.

LooksRare V2: The Game Changer

LooksRare has long been recognized as a leading NFT trading platform, and the announcement of their V2 version has only strengthened its reputation. According to information released by LooksRare, the V2 version aims to reduce platform protocol fees and gas fees to compete with Blur and OpenSea Pro.
The most significant change in the V2 version is in the protocol fee reduction. The protocol fee for LooksRare V2 will be reduced by 75% (from 2% to 0.5%). This reduction will provide more profits for both the buyer and the seller, making NFT trading on LooksRare V2 more affordable and accessible.
The gas fee reduction, which is a fee paid to miners to validate transactions on the blockchain, will also be reduced by 50%. This reduction will benefit both the buyer and seller by saving them money on transaction fees. To make the process smoother for sellers, LooksRare will also allow sellers to receive ETH directly instead of WETH. This change will help with the conversion of the token and save time.
In addition to these essential changes, the new version of LooksRare also features the bulk listing and purchase of over 70 NFTs in a single transaction. This feature is a game-changer for both buyers and sellers, as it saves time, effort, and money by reducing transaction costs.

The Future of LooksRare

LooksRare’s V2 version is a significant step forward for the world of NFTs. The new features and reduced fees will make NFT trading more accessible and profitable. The competition in the NFT market is fierce, and LooksRare has shown that it is ready to take on the big players like Blur and OpenSea Pro.
The NFT market is growing at an astonishing rate, with new artists and creators joining the platform every day. With LooksRare’s V2 version, the future of NFT trading looks bright and promising.

Conclusion

LooksRare’s V2 version is a game-changer for the NFT market. The reduction in protocol fees and gas fees, coupled with the new features, will make NFT trading more accessible, affordable, and efficient. The NFT market is growing at an astonishing rate, and LooksRare has shown that it is ready to take on the big players.

FAQs

**What is LooksRare?**
LooksRare is an NFT trading platform that specializes in the trading and auctioning of NFTs.
**What are the changes in the V2 version of LooksRare?**
The V2 version of LooksRare features a 75% reduction in protocol fees, a 50% reduction in gas fees, and the ability for sellers to receive ETH directly.
**What are the advantages of LooksRare V2?**
The reduced protocol and gas fees, coupled with the new features like bulk listing and purchase, make NFT trading more accessible, affordable, and efficient.

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