The NFT LooksRare marketplace has just been launched

The launch of the new NFT LooksRare marketplace was inaugurated with an Airdrop. The team distributed LOOKS tokens to any user who recorded a trading volume of at least 3 ETH (around $ 9,100) on OpenSea between June 16 and December 16, 2021.

According to the project's tokenomics page, 12% of the supply was allocated to this aidrop, out of a total of 1 billion tokens. Dune Analytics data shows that 185,223 Ethereum addresses are eligible for rewards between 125 and 10,000 LOOKS tokens, depending on trading volume.

Shortly after launching on Uniswap, the LOOKS token reached a high of $ 4.71 before stabilizing somewhat at around $ 1.75. Currently, the value of the token is $ 2.78 according to CoinGecko.

Airdrop can be considered a "vampire attack," meaning a strategic move that aims to attract users from another competing project. "Attacks" of this type usually involve offering rewards in native tokens in the hope that this will attract liquidity.

Another similar project called Infinity attempted to carry out such an attack on OpenSea in October 2021. However, it failed to gain momentum after its launch. The LooksRare team says it will reward its users consistently.

Each transaction executed on the marketplace includes a 2% commission that will be paid to those who put LOOKS tokens on hold. Under the contract, OpenSea charges a 2.5% commission, but is not paid back to users.

Although more NFT marketplaces have enjoyed growth in 2021, OpenSea is by far last year's winner in terms of trading volume and number of users on the platform. In 2021, OpenSea had a trading volume of $ 14 billion.

The only downside to projects like LooksRare is that OpenSea doesn't have a native token that can be used to reward users.