2022-01-12 17:42:09
Hey Guys,
Earlier this morning I tweeted this:
https://twitter.com/coinbureau/status/1481174376796065795
It seems that it was another attempt to reward the Opensea NFT community with an Airdrop. This is on top of the OpenDAO airdrop of their $SOS tokens a few weeks back.
So, if you have been a regular user of Opensea then you will have gained all this additional value for free. If you will recall, I did an airdrop video a few months ago. In that video I speculated that OpenSea users could have got valuable airdrops.
While I initially speculated that these could have been an OpenSea governance token, the end result is perhaps even better.
That is because decentralised and community controlled marketplaces like LooksRare are a breath of fresh air. OpenSea may be a dApp on the Ethereum network, but they are still centralised.
Let's not forget that they have had insider trading allegations as well as anger levelled at them when they said that they were considering an IPO.
LooksRare appears to be an attempt to decentralise OpenSea and they have used a typical Defi "vampire attack" to do it. According to their blog post:
"We’re tired of the deplatforming of creators, and the decision makers who value business over community, seeking IPO instead of benefiting the communities that got them there. So we’re building something better."
https://docs.looksrare.org/blog/launch-post
What's great about this is that the 2% fee that is generated from the trading of NFTs here will be paid to those who are staking on the platform.
On top of this, those who buy or sell on the platform will earn LOOKS token rewards. On top of this, creators are able to earn their royalty awards the moment that they have been earned.
I have claimed my tokens but have not started using LooksRare yet. However, I do like what I am reading and will be trying it out over the weekend. I will always support those projects that try to decentralise the centralised.
It also seems like LooksRare has got off to a flying start as trading volume on the platform over the past 24 hours exceeded OpenSea:
https://dune.xyz/hildobby/LooksRare-VS-OpenSea
Of course, it is hard to tell how much of this is organic and how much of it is traders just wash trading in order to earn LOOKS rewards.
Either way, I will be keeping a close eye on the project as well as a number of other decentralised NFT Market Places
11.9K views14:42
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