NFT dealing platform LooksRare might reduce its trading fees to 0.5%
LooksRare, a Non-Fungible tokens (NFTs) market, announced on April 6, 2023, that it has developed its existing version by including new features and reducing its cost by 75%, stated Cointelegraph. As reported by Cointelegraph, LooksRare initially charged two percent per trade, which now had been reduced to 0.5%. It is expected that it will be allowing its users to save about 30% on gas fees by including gas-efficient contracts. Sources revealed now the sellers will receive Ether rather than using wrapped Ether (WETH) and the use of smart contracts might allow bulk selling and buying of orders. It is believed now that users can buy an NFT with one wallet and send it through another, added Cointelegraph. Furthermore, it is expected that the new features of LooksRare may create a challenge for its competitors such as Blur and OpenSea, Cointelegraph concluded. Sources revealed now the sellers will receive Ether rather than using wrapped Ether (WETH) and the use of smart contracts might allow bulk selling and buying of orders. It is believed now that users can buy an NFT.
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