LooksRare was one of the OG "vampire" NFT marketplaces trying to unseat OpenSea. Community-owned via LOOKS staking, zero protocol fees, and long track record. Volume never overtook Blur but remains functional.
What LooksRare offers
- Zero protocol fees on secondary sales
- Community-owned governance via LOOKS staking
- v2 launch improved trading UX
- Long track record
Wash-trading concerns
Early LooksRare rewards structure incentivized wash trading, damaging reputation. Post-v2, the design is cleaner but the reputational impact persists.
Verdict
LooksRare is the community-owned NFT marketplace. Never took OpenSea's crown; functional but niche.