Looksrare has launched V2 of its innovative NFT marketplace and says a focus on scalability, efficiency, and flexibility is at its core.
Looksrare has been making a name for itself as a go-to platform for NFT collectors and creators, offering a user-friendly experience and a wide variety of digital art. Now, with the launch of V2, the marketplace is levelling up and bringing even more value to the NFT community.
The new and improved Looksrare V2 promises to deliver a more scalable, efficient, and flexible platform for NFT enthusiasts. Built on cutting-edge technology, Looksrare V2 aims to cater to the ever-growing needs of the NFT ecosystem, providing an optimized environment for both creators and collectors.
Several New And Improved Features
One major improvement in the V2 platform is the reduction of protocol fees. According to LooksRare developers, protocol fees have been slashed from 2% down to a fixed 0.5%. This makes trading on the platform even more attractive and cost-effective for users.
Another notable change in Looksrare V2 is the transition from Wrapped Ethereum (WETH) to Ethereum (ETH) for NFT sellers. Previously, NFT sellers on LooksRare received WETH from buyers. Now, under V2, sellers will receive ETH, unless WETH is required under a specific offer or smart contract. This streamlines the process for users, making transactions more straightforward.
One of the most progressive features added to V2 is the ability to conduct bulk purchases of NFTs. Instead of buying one item at a time, buyers can essentially add NFTs to their shopping cart and make their purchase with one transaction.
Conversely, sellers can list a collection of NFTs to be sold under one transaction instead of getting rid of them in individual listings. This feature makes the buying and selling process more efficient and user-friendly.
LooksRare says the update also aims to bring in order flexibility, which is currently only seen in regular crypto exchanges. As the platform continues to evolve and adapt to the needs of the NFT community, it could be one to watch in the coming months in the NFT news section.