LooksRare team cashes out $30M in WETH, faces community backlash
The price of the native token LOOKS tumbled by 15% after the news of the cash-out became public. LooksRare, a nonfungible token (NFT) marketplace touted to be the OpenSea killer, became the talk of the NFT world after the team behind the project cashed out millions in Ether (ETH).The NFT marketplace confirmed that the core team has cashed out 10,500 WETH estimated to be worth $30 million from the unattributed staked native token LOOKS. The native token was used for paying fees on the platform and was also awarded to users when they sold their NFT on the platform. The unattributed LOOKS....
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Opensea competitor LooksRare, one of the major NFT markets in the business, has confirmed the cash-out of $30 million in Ethereum, causing outrage within the community. The platform which was launched as OpenSea killer recently confimed that its official team recently made over $30 million in cash out from staked tokens of the platfom’s native […]
As NFT trading activity remains high in volume, a new wave of NFT trading platforms have begun to crop up in 2022. LooksRare, a recently launched nonfungible token, or NFT, marketplace, says it wants to index all NFT collections on the Ethereum blockchain. The site went live on Monday with a token airdrop.#LooksRare NFT Marketplace Now Live! $LOOKS airdrop claim open ⏰ Staking starts at block 13977012 Trading reward calculations start tomorrow LFG! https://t.co/Y1jt9Kmqt6— LooksRare - NFT Marketplace (@LooksRareNFT) January 10, 2022 Created by two anonymous co-founders, known as Zodd....
The token bridge between Ethereum and Solana saw 120K wETH tokens removed from the platform and distributed between the hacker’s Solana and ETH wallets. The Wormhole token bridge experienced a security exploit today, resulting in the loss of 120,000 wETH tokens ($321 million) from the platform.Wormhole is a token bridge that allows users to send and receive crypto between Ethereum, Solana, BSC, Polygon, Avalanche, Oasis, and Terra without the use of a centralized exchange (CEX). This is the largest crypto hack of 2022 so far and the second largest DeFi hack to date. The Wormhole team has....
A new non-fungible token (NFT) marketplace called Looksrare has surpassed Opensea in terms of daily volume on Wednesday. Statistics show 3,264 Looksrare traders have executed $385.39 million in sales during the last day, as the marketplace has seen a 1,461% increase in daily volume.
Looksrare NFT Market Captures Number 1 Position in Terms of Daily NFT Volume
There’s a new Ethereum-based NFT marketplace called Looksrare and during the last day, it has surpassed Opensea in 24-hour volume. Of course, Opensea is the largest NFT marketplace in terms of all-time volume with....
LooksRare joins the lineup of NFT marketplaces that have abandoned default creator royalties but says its replacement solution is “competitive”. Nonfungible token (NFT) marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by default following the likes of Magic Eden and X2Y2.The platform tweeted on Oct. 27 that it would not be supporting creator royalties by default, instead choosing to share 25% of its protocol fees with NFT creators and collection owners. Buyers can still choose to pay royalties when purchasing an NFT but will be on....