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LooksRare

  • What it is:LooksRare is a community-first NFT marketplace on the Ethereum blockchain that rewards users, collectors, and creators with LOOKS tokens and redistributes all fees to stakers.
  • Best for:Active NFT traders, LOOKS token holders, Collection investors
  • Pricing:Starting from 0.5%
  • Rating:70/100Good
  • Expert's conclusion:A strong option for Ethereum NFT traders who are interested in reward opportunities and willing to take on the risks associated with using web 3.0 applications, but may not be the best option if you require creation tools or support multiple chains.
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Reviewed byMaxim Manylov·Web3 Engineer & Serial Founder

What Is LooksRare and What Does It Do?

The LooksRare NFT Marketplace is an Eth based decentralized marketplace for NFTs. Looks Rare was founded in January of 2022 and is a decentralized marketplace where users are rewarded in the form of LOOKS tokens for participating in trades, collecting NFTs, and creating NFTs. All of the revenue generated by Looks Rare will be given back to the community.

Active
📅Founded 2022
🏢Decentralized Autonomous Organization
TARGET SEGMENTS
NFT TradersNFT CollectorsNFT Creators

What Are LooksRare's Key Business Metrics?

📊
January 2022
Launch Date
📊
Ethereum
Blockchain
📊
2% (distributed to LOOKS holders)
Platform Fee
📊
110,000+
Airdrop Wallets
🏢
11
Team Size

How Credible and Trustworthy Is LooksRare?

70/100
Good

Looks Rare has established themselves as one of the top NFT marketplaces by focusing on their community and offering very low fees for both buyers and sellers. Although they have had an excellent start to establishing themselves as a viable option to Open Sea, the fact that they do not have an identifiable face for the company and have stopped giving out active rewards to their community members does give some uncertainty to how long Looks Rare will remain successful.

BREAKDOWN
Product Maturity75/100
Company Stability65/100
Security & Compliance70/100
User Reviews80/100
Transparency60/100
Support Quality65/100
TRUST SIGNALS
Non-custodial protocol100% fee redistribution to communityInstant creator royalties

What is the history of LooksRare and its key milestones?

2022

Platform Founded

In January of 2022, Zodd and Guts, who are the founders of Looks Rare, launched the marketplace as a community driven NFT marketplace on the Eth blockchain.

2022

Token Airdrop

By using an airdrop method of rewarding LOOKS tokens to over 110,000 Open Sea users, Looks Rare achieved a very high amount of initial trading volume.

2023

Rewards Program Change

In September of 2023, Looks Rare discontinued its active rewards program for all of its users, and instead now distributes all of the revenue generated by trading on the site directly to users that are staking LOOKS tokens.

What Are the Key Features of LooksRare?

📊
NFT Trading
On Looks Rare you can buy and sell your NFTs at fixed prices or by placing an offer. There is also a 2% protocol fee that is charged for every transaction on the site, and this fee is then distributed to all of the users that are holding LOOKS tokens.
✨
Collection Offers
On Looks Rare, you can place bids on entire NFT collections all at once which makes it ideal for when you want to purchase multiple NFTs at once.
⚡
Instant Royalties
When you sell your NFT on Looks Rare, you will receive your royalties immediately after the sale takes place. This is different than many other NFT marketplaces that pay out royalties months after the sale has taken place.
✨
LOOKS Rewards
When you trade, stake, or list your NFTs on Looks Rare, you will earn LOOKS tokens. Previously, there were also daily rewards.
✨
YOLO & Raffles
Looks Rare has several community focused gaming options including a combination NFT, ETH, and LOOKS game called YOLO, and a community raffle system that allows users to earn additional LOOKS tokens.
✨
Staking
When you stake your LOOKS tokens on Looks Rare, you will earn a portion of the platform fees. This can be done using either the standard staking method or the compounding staking method.

What Technology Stack and Infrastructure Does LooksRare Use?

Infrastructure

Ethereum mainnet (decentralized)

Technologies

SolidityEthereum Smart Contracts

Integrations

MetaMaskWalletConnectOpenSea Collections

AI/ML Capabilities

N/A (pure blockchain protocol)

Inferred from protocol descriptions; modular smart contracts enable feature rollouts

What Are the Best Use Cases for LooksRare?

NFT Traders
When you actively buy and sell your NFTs on Looks Rare, you will earn LOOKS tokens in the form of rewards and you will also earn a portion of the platforms 2% fee that is redistributed to all of the users that are holding LOOKS tokens.
NFT Collectors
With the ability to make bulk offers on entire NFT collections, and the ability to participate in raffles and YOLO games, you can efficiently acquire large collections of NFTs.
NFT Creators
When you create NFTs and sell them on Looks Rare, you will receive your royalty payments immediately after each sale. This will allow you to maintain better cash flow than if you used another NFT marketplace.
LOOKS Token Holders
When you stake your LOOKS tokens on Looks Rare, you will earn a percentage of all of the trading fees that are generated on the platform. This provides a way for users to generate passive income from the trading volume on the platform.
NOT FORHigh-Frequency Traders
Post-reward discontinuations are less than ideal; Ethereum gas costs may also discourage microtransactions.
NOT FORNon-Ethereum NFT Holders
Only supports Ethereum NFTs; there is no multi-chain support currently available.

How Much Does LooksRare Cost and What Plans Are Available?

Pricing information with service tiers, costs, and details
☐Service$CostℹDetails🔗Source
NFT Trading Fee0.5%Platform protocol fee reduced in V2. Distributed to LOOKS stakers (75%) and creators (25%)LooksRare docs and research
Trading Fee (original)2%Applied to basic sales. No fee for private sales. All revenue to LOOKS token holdersLaunch post and V1 documentation
Creator Royalty0% (standard) or optionalNo default royalties. Buyers can opt-in. Creators receive 0.5% from protocol fees insteadV2 royalty update announcement
Gas FeesEthereum network gasMandatory for transactions. V2 offers up to 30% gas savingsThird-party marketplace reviews
NFT Trading Fee0.5%
Platform protocol fee reduced in V2. Distributed to LOOKS stakers (75%) and creators (25%)
LooksRare docs and research
Trading Fee (original)2%
Applied to basic sales. No fee for private sales. All revenue to LOOKS token holders
Launch post and V1 documentation
Creator Royalty0% (standard) or optional
No default royalties. Buyers can opt-in. Creators receive 0.5% from protocol fees instead
V2 royalty update announcement
Gas FeesEthereum network gas
Mandatory for transactions. V2 offers up to 30% gas savings
Third-party marketplace reviews

How Does LooksRare Compare to Competitors?

FeatureLooksRareOpenSeaX2Y2Magic Eden
Trading Fees0.5%2.5%0.5%2%
Creator RoyaltiesOptional (0.5% protocol share)Standard (long claim time)OptionalOptional
Fee DistributionTo LOOKS stakers & creators100% to OpenSeaX2Y2 rewardsTo treasury
Trading RewardsYes ($LOOKS tokens)NoYes (referrals)No
Collection OffersYesYesBulk listingNo
Private Sales Fee0%2.5%
Free Tier
API AccessYes (docs available)YesYesYes
Reward StakingYes (up to 25% APY)NoPartialNo
Gas OptimizationV2 (30% savings)StandardStandardOn-chain optimized
Trading Fees
LooksRare0.5%
OpenSea2.5%
X2Y20.5%
Magic Eden2%
Creator Royalties
LooksRareOptional (0.5% protocol share)
OpenSeaStandard (long claim time)
X2Y2Optional
Magic EdenOptional
Fee Distribution
LooksRareTo LOOKS stakers & creators
OpenSea100% to OpenSea
X2Y2X2Y2 rewards
Magic EdenTo treasury
Trading Rewards
LooksRareYes ($LOOKS tokens)
OpenSeaNo
X2Y2Yes (referrals)
Magic EdenNo
Collection Offers
LooksRareYes
OpenSeaYes
X2Y2Bulk listing
Magic EdenNo
Private Sales Fee
LooksRare0%
OpenSea2.5%
X2Y2—
Magic Eden—
Free Tier
LooksRare—
OpenSea—
X2Y2—
Magic Eden—
API Access
LooksRareYes (docs available)
OpenSeaYes
X2Y2Yes
Magic EdenYes
Reward Staking
LooksRareYes (up to 25% APY)
OpenSeaNo
X2Y2Partial
Magic EdenNo
Gas Optimization
LooksRareV2 (30% savings)
OpenSeaStandard
X2Y2Standard
Magic EdenOn-chain optimized

How Does LooksRare Compare to Competitors?

vs OpenSea

LooksRare has lower fees (0.5% as opposed to 2.5%) than OpenSea; however, LooksRare distributes 100% of revenue collected from fees to its community or token holders rather than keeping it itself. OpenSea has a much larger user base and more collections, but royalty payments to creators take longer.

OpenSea is preferred by traders looking for maximum liquidity and visibility, whereas LooksRare is preferred by cost conscious traders.

vs X2Y2

Has a similar low 0.5% fees and reward system to that of LooksRare; X2Y2 offers many more features geared toward bulk operations while LooksRare provides a marketplace with a focus on staking rewards (up to 25% APY) and the ability to bid on entire collections at once. Both platforms cater to serious traders.

LooksRare is preferred by stakers and investors in collections; X2Y2 is preferred for bulk operation activity.

vs Magic Eden

Magic Eden dominates the Solana space (2% fees), whereas LooksRare caters to Ethereum focused NFT traders who can earn community rewards. LooksRare will provide better rebate rates to active traders using their LOOKS tokens.

The majority of traders who trade Ethereum NFTs prefer the rewards offered by LooksRare, whereas the majority of traders who trade Solana NFTs prefer Magic Eden.

vs Blur

Both platforms offer low/zero fees to traders and rewards to them as well, but Blur focuses solely on providing analytics and power tools to traders, while LooksRare creates a balance of a marketplace and a staking ecosystem for its users. LooksRare is more approachable for casual traders.

Power aggregators utilize Blur, while community and reward seekers utilize LooksRare.

What are the strengths and limitations of LooksRare?

Pros

  • Fees are very low (protocol fee of 0.5% compared to an average of 2-2.5% in the industry).
  • Rewards for community members — All trading fees are distributed to LOOKS stakers and traders.
  • Support for creators — 25% of protocol fees are redistributed to collections without standard royalties.
  • Collection bidding — Ability to make bids on entire NFT collections at once.
  • Incentives for staking — Rewards of up to 25% APY for holders of the LOOKS token.
  • Optimizations for gas — V2 optimizes gas consumption by approximately 30%.
  • Free private sales — There is no platform fee for direct P2P transactions.

Cons

  • Ethereum only — Unlike competitors, multi-chain support is unavailable.
  • Smaller liquidity pool — Approximately tens of thousands of users as opposed to OpenSea’s millions.
  • Token dependent — Rewards depend on volatile token values of the LOOKS token.
  • The first item in the list has a wash trading history that created a negative public image for the company early on.
  • In addition, the complexity of rewards has led to confusion among new users because they have multiple rewards systems (trading and staking).
  • Users cannot access the site through a mobile application; it only exists as a web-based experience.
  • Ethereum gas fees can be higher than the platform's fees.

Who Is LooksRare Best For?

Best For

  • Active NFT traders — Users can get Lookswise Rewards for each trade made, and with low 0.5% fees users will receive maximum benefits.
  • LOOKS token holders — Stake for 25% APY and earn a portion of all platform fees.
  • Collection investors — A unique method of purchasing bulk NFTs using collection wide bidding makes this process easier for users.
  • Cost-conscious sellers — There are no fees charged for private sales, and there are fee rebates available via rewards.
  • Ethereum NFT enthusiasts — Looks Rare indexes all ETH based collections, and it has competitive liquidity.

Not Suitable For

  • Casual NFT buyers — Smaller inventory and less liquidity than Open Sea. Use Open Sea.
  • Multi-chain collectors — Only an Ethereum based platform. Magic Eden, and cross chain aggregators should be considered.
  • New crypto users — Complex rewards and staking requirements are necessary for web 3 users. Beginners may want to start with a different platform.
  • Gas fee sensitive traders — Gas fees from Ethereum are often higher than the platform fees. Wait for Layer 2 upgrades to improve performance or consider using cheaper blockchains.

Are There Usage Limits or Geographic Restrictions for LooksRare?

Blockchain
Ethereum mainnet only
Trading Fees
0.5% protocol fee on all public trades, 0% private sales
Creator Revenue
25% of protocol fees (0.5% total per trade max)
Gas Fees
Standard Ethereum network gas required for all transactions
Token Requirements
LOOKS staking required for fee revenue share
Existing Listings
Pre-V2 listings charged 2.5% total (2% protocol + 0.5% creator)
Wallet Support
EVM-compatible wallets only (MetaMask, WalletConnect)

Is LooksRare Secure and Compliant?

Smart Contract SecurityAll trades secured by audited Ethereum smart contracts
Non-CustodialUsers retain full control of wallets and assets - platform never holds funds
On-chain NFT indexing and settlement eliminates central points of failure
Royalty RegistryEIP-2981 standard support plus LooksRare royalty registry for creator payments
Immutable TransactionsAll trades permanently recorded on Ethereum blockchain
No KYC RequiredPseudonymous trading - wallet connection only, no personal information collected
Open Source ContractsCore smart contracts publicly auditable on GitHub/Etherscan

What Customer Support Options Does LooksRare Offer?

Channels
Community support channelSelf-service guides at docs.looksrare.org
Specialized
Community-driven support for traders and collectors
Support Limitations
•No dedicated customer support team or ticketing system
•Relies primarily on community self-help resources
•No phone, email, or live chat support available

What APIs and Integrations Does LooksRare Support?

API Type
No public REST or GraphQL API documented
Developer Tools
Smart contract interactions via Etherscan and direct blockchain calls
SDKs
No official SDKs; uses standard Web3 libraries (ethers.js, web3.js)
Documentation
Smart contract docs available; no API reference
Web3 Integration
Full compatibility with Ethereum RPC endpoints and indexing services like The Graph
Use Cases
Building trading bots, analytics dashboards, custom frontends via blockchain queries

What Are Common Questions About LooksRare?

Users earn LOOKS tokens when buying and selling eligible NFT collections for trading. Stakers earn LOOKS tokens from the 2% trading fees paid by users on the platform each day.

Looks Rare charges 2% in WETH for all NFT sales, which is lower than most other platforms. The entire revenue generated by these fees are given back to the stakers of the LOOKS token.

Unlike Open Sea, Looks Rare redistributes 100% of its trading fees to its stakers. It offers lower trading fees (2% vs 2.5%), instant payment of royalties, and collection wide offers.

As a decentralized marketplace on the Ethereum blockchain, Looks Rare utilizes audited smart contracts. Assets remain within non custodial user controlled wallets. In order to maintain standard web 3 security methods.

Yes, Looks Rare offers a unique collection wide offer option allowing you to bid on all NFTs in a collection at once. This would allow you to purchase multiple NFTs at once, either at the floor price or to target specific characteristics in an NFT.

Stake LOOKS tokens to receive an allocation of the proportionate portion of the revenue generated by the platform based on your stake. The rewards are distributed approximately once each day (every 6500 ETH blocks) and compound daily as they accumulate.

NO - Looks Rare has a focus only on secondary sales. Creators of NFTs MUST mint their creations on other platforms (such as Manifold) prior to posting them for sale on Looks Rare.

Only ETH and WETH - The transaction will be settled directly on the Ethereum MainNet at standard gas costs.

Is LooksRare Worth It?

Looks Rare is a community-based Ethereum NFT marketplace which differs from competitors due to its fee redistribution to stakeholders and reward incentives to users as opposed to taking profits from the platform. It offers a number of advantages including lower fees and collection offers; however, it is vulnerable to the risk of past wash trading and does not have the ability to allow NFT creators to mint new NFTs.

Recommended For

  • Active traders who want to gain trading rewards and fee rebates
  • Users who hold LOOKS tokens and wish to generate yields from staking their tokens against marketplace volumes.
  • Collectors of Ethereum NFT's purchasing blue chip collections.
  • Users who prefer decentralized community owned platforms over centralized marketplaces.

!
Use With Caution

  • NFT creators requiring minting and primary sale tools.
  • Casual Buyers not interested in staking or receiving rewards.
  • Users who are concerned about previous wash trading manipulation.
  • High frequency traders concerned with Ethereum gas costs.

Not Recommended For

  • Users who trade NFT's across multiple chains (only supports Ethereum).
  • New NFT Artists without established collections.
  • Risk adverse investors who do not want to invest in token incentivized platforms.
  • Users requiring fiat on / off ramps or a mobile first experience.
Expert's Conclusion

A strong option for Ethereum NFT traders who are interested in reward opportunities and willing to take on the risks associated with using web 3.0 applications, but may not be the best option if you require creation tools or support multiple chains.

Best For
Active traders who want to gain trading rewards and fee rebatesUsers who hold LOOKS tokens and wish to generate yields from staking their tokens against marketplace volumes.Collectors of Ethereum NFT's purchasing blue chip collections.

What do expert reviews and research say about LooksRare?

Key Findings

Looks Rare is a community-driven Ethereum NFT marketplace that distributes 100% of all 2% platform fees to LOOKS stakers and traders. Other key differentiating factors of the platform include instant royalty payments, collection offers, and reward programs; although, the reward program was discontinued by September 2023. The platform is focused on allowing users to own the platform as opposed to a central authority owning the platform.

Data Quality

Good - comprehensive protocol analysis from docs, reviews, and research reports. Lacks official support/status pages. Active development status unclear post-2023 reward changes.

Risk Factors

!
Prior instances of past wash trading manipulation
!
Gas costs on the Ethereum blockchain & limitations to scaling
!
The reward program was discontinued (Sept 2023)
!
The founding team is anonymous
!
Competitive pressures from OpenSea, Blur
Last updated: February 2026

What Additional Information Is Available for LooksRare?

Token Economics

LOOKS token enables the ecosystem through both trading and staking rewards. All 2% of all trading fees paid to the stakers. Staking is still available while trading rewards were discontinued in September 2023

Unique Features

Collection Floor Sweeps allow users to purchase all the lowest-priced NFT's that have a common trait. The YOLO game allows players to combine their ETH/NFT tokens in hopes of winning one of several prize pools. Inventory has increased due to integration of OpenSea and Blur listing

Smart Contract Architecture

Modular smart contracts enable new features to be rolled out. Top auditing firms audited the code. Compatible with full EVM to allow for any frontend or bot to connect to the API

Market Position

Marketed as a community-first alternative to OpenSea. Fair distribution of fees is emphasized as the priority versus generating revenue for the platform. Only compatible with the Ethereum mainnet

Historical Context

Released January 2022 by an anonymous group during the NFT bull run. Built momentum through heavy reward farming. Post bear market reduced incentives

What Are the Best Alternatives to LooksRare?

  • •
    OpenSea: One of the leading NFT marketplaces and has the largest selection of NFT's across 10+ chains. Fees are slightly higher at 2.5%, however it has a more mature user experience and better support for creators. Good for casual traders and those who want to trade across multiple chains. OpenSea.io
  • •
    Blur: A power trader focused aggregator with advanced analytics and lending options. Allows for zero royalty payment to creators which will appeal to flippers. Best for professional NFT traders looking to trade large volumes. Blur.io
  • •
    X2Y2: A no-fee marketplace (revenue generated from treasury sales). Allows for multiple chain support. Rewards BTRST token holders. Best for cost conscious traders looking to avoid protocol fees. X2Y2.io
  • •
    Magic Eden: Leader among multi-chains (Solana is the primary chain), also offers mobile apps and fiat ramps. Lower fees when using L2. Best for Solana NFT traders and mobile users. Magiceden.io
  • •
    Tensor: Native to Solana with perpetuals trading and analytics. Has very fast user interface. Best for Solana degens and the ability to use order types unavailable on Ethereum marketplaces. Tensor.trade

What Are LooksRare's Marketplace Metrics?

$0.0008
Token Price
999,942,000 LOOKS
Circulating Supply
$822,937
Market Cap
Unknown (fixed max supply)
Total Supply

Which Blockchains Does LooksRare Support?

Ethereum

How Are Fees Structured for LooksRare?

Marketplace Fee
Low fees (exact % unspecified)
Creator Royalties
Supported
Gas Fees
Paid by buyer (bulk saves gas)
Listing Fee
Free
Premium Features
LOOKS token rewards

What Trading Features Does LooksRare Offer?

Collection Floor Sweeps

Purchase the lowest priced NFTs in bulk by traits

Bulk Listings & Buys

Combine multiple transactions into one to reduce gas fees

NFT Collection Analytics

Trends, Sales Volume, Candle Stick Charts

Integrated Listings

Blur and OpenSea listings available

Transaction Rewards

Earn LOOKS tokens for buying and listing

How Does LooksRare Structure Its Token Economics and Incentives?

Token Symbol
LOOKS
Total Supply
Fixed (max supply defined)
Token Utility
Trading rewards for buyers/sellers, staking for protocol fees
Reward Program
Earn LOOKS for transactions
Staking
Stake LOOKS to earn protocol fee yield

Is LooksRare Secure and Compliant?

Non-CustodialUsers retain control of assets
Smart ContractsEthereum-based protocol
Escrow ProtectionSecure NFT trades
Bug Bounty Program
Royalty EnforcementCreator royalties supported

What Collection Support Does LooksRare Support?

ERC-721ERC-1155Art NFTsPFPs

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