LooksRare explained: How LOOKS is challenging OpenSea
Sep 08, 2022
NFTs are one of the fastest-growing markets and it already caught the interest of global players like eBay. The biggest NFT marketplace worldwide remains OpenSea with a yearly multi-billion Dollar revenue. There are quite a few reasons why NFTs became successful. First of all, NFT collections are fun and they are creating strong communities. But what’s even more important is that there is a variety of use-cases for non-fungible tokens involved.
It is possible to tokenize event tickets, art, music, and even digital property, just to name a few examples. Many analysts believe that NFTs will see even more growth with the adoption of the metaverse. This underlines how important NFT marketplaces are and what potential they could possibly unlock once this vision becomes reality.
LooksRare is a challenger that is not only offering an NFT marketplace with similar options as OpenSea but also its own token that completes its ecosystem.