NFT Marketplace LooksRare And MoonPay Expand New Partnership

Key Points: The non-fungible token (NFT) marketplace LooksRare and Web3 payments company MoonPay are collaborating to make it simple for users to buy both cryptocurrencies and NFTs on the site. The integration of NFT Checkout, MoonPay's system that enables anybody to purchase NFTs with a credit card, is another future aim for the cooperation.

Timeline of Looksrare

Arthur Hayes, a well-known cryptocurrency trader and the founder of BitMEX, has become the largest individual holder of the token LOOKS, owning 17 million LOOKS, equivalent to $5.14 million. Hayes purchased 10.68 million LOOKS at an average price of $0.258 with a total cost of 1,786 ETH ($2.76 million) from Aug. 24, 2022, to Nov. 3, 2022.

Quick Take Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion. As part of its latest protocol update, LooksRare has jumped on the bandwagon of royalty circumvention. Unable to ignore the mounting competitive pressure any longer, it has attempted to create a silver bullet that would equally satisfy traders and creators. However, the strategic shift has failed to materialize as a breakthrough success thus far.

The LooksRare platform's adoption of the NFT zero royalty policy adds to the growing number of platforms that have done so and gives the policy a foothold in what has been a contentious topic for some time. It's possible that the recent trend is connected to the economy's downward trajectory and traders' disappointment with the profitability of NFTs.

The Ethereum-based NFT marketplace has made paying creator royalties optional when trading NFTs, making it the latest marketplace to do so.  No More Compulsory Royalties  LooksRare is the latest NFT marketplace to remove compulsory creator royalties on its platform.

LooksRare is the latest NFT marketplace to opt for a zero-royalty mechanism  The platform will share 25% of the protocol fee with NFT creators and artists. LooksRare, the leading Ethereum-based NFT marketplace, has announced its new decision, stating the firm will no longer support creator royalties by default.

While NFT marketplace LooksRare has pivoted to royalty-free trading, it has diverted some of the protocol's fees to creators. The post LooksRare becomes latest NFT marketplace to nix royalties: Exclusive appeared first on The Block.

OpenSea's co-founder Devin Finzer announces that they are laying off 20% of the OpenSea staff.  The firm will be helping its employees find a new jobs and will also be offering them several benefits including a generous severance pay option.