{"id":19639,"date":"2023-04-09T07:17:28","date_gmt":"2023-04-09T07:17:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/nft-marketplace-looksrare-launches-version-2-cutting-protocol-fees-by-75-and-introducing-bulk-purchases-bitcoin-news\/"},"modified":"2023-04-09T07:17:28","modified_gmt":"2023-04-09T07:17:28","slug":"nft-marketplace-looksrare-launches-version-2-cutting-protocol-fees-by-75-and-introducing-bulk-purchases-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/nft-marketplace-looksrare-launches-version-2-cutting-protocol-fees-by-75-and-introducing-bulk-purchases-bitcoin-news\/","title":{"rendered":"NFT Marketplace Looksrare Launches Version 2, Cutting Protocol Fees by 75% and Introducing Bulk Purchases \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Looksrare, the non-fungible token (NFT) marketplace, has launched version two, also known as v2, which reduces protocol fees by 75%. According to statistics from Dune Analytics, Looksrare was the tenth-largest NFT marketplace in terms of trader count during the past week.<\/strong><\/p>\n

NFT Market Protocol Looksrare Launches v2<\/h2>\n

NFT marketplace Looksrare<\/a> announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the reduction of Looksrare\u2019s fees by 75% with v2. \u201cLooksrare\u2019s protocol fee is now a fixed 0.5%, down from 2%,\u201d the team noted in a blog post<\/a>. \u201cGiven the current market meta, we\u2019re removing creator rebates for the time being.\u201d<\/p>\n

According to stats<\/a> from Dune Analytics, Blur and Opensea traders dominate the market in terms of traders and market share in volume this week. Looksrare is the tenth-largest NFT marketplace in terms of traders and volume this week, according to metrics from Dune Analytics and Dappradar<\/a>.<\/p>\n

Looksrare claims that users can save \u201c~50% on gas fees compared to other marketplaces like Blur, and ~30% on gas fees compared to Looksrare version one.\u201d In addition, Looksrare v2 will use ethereum (ETH<\/a>) instead of wrapped ethereum (WETH). With Looksrare v2, users can make bulk purchases by adding \u201c70+ NFTs to your cart.\u201d<\/p>\n

Moreover, Looksrare announced<\/a> that version one (v1) will be deprecated and provided a timeline for the process. \u201cAs of 7 p.m. (UTC) on April 12, you\u2019ll no longer be able to POST v1 orders via the public API,\u201d Looksrare said. Looksrare v1 will be completely sunsetted by April 13, and all operations will be migrated to v2. Looksrare also shared the new public API endpoints for v2 in the same blog post.<\/p>\n

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Blockchain<\/a>, Blur<\/a>, bulk purchases<\/a>, collectibles<\/a>, cost savings<\/a>, creator rebates<\/a>, Cryptocurrency<\/a>, deprecation<\/a>, Digital Art<\/a>, Dune Analytics<\/a>, endpoints<\/a>, Ethereum<\/a>, fixed fee<\/a>, gas fees<\/a>, looksrare<\/a>, Looksrare Marketplace<\/a>, Market Share<\/a>, Marketplace<\/a>, Meta<\/a>, Migration<\/a>, nft<\/a>, NFT Markets<\/a>, NFTs<\/a>, online marketplaces<\/a>, Opensea<\/a>, operations<\/a>, protocol fees<\/a>, public API<\/a>, trader count<\/a>, transactions<\/a>, v2<\/a>, version 2<\/a>, volume<\/a>, WETH<\/a><\/div>\n<\/div>\n

What do you think of Looksrare\u2019s decision to deprecate version one and migrate all operations to version two? Share your thoughts in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Feature image by David Esser \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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