LooksRare Reduces Creator Fees to Zero as Competition Hots Up

A hip young NFT Marketplace, looks rarewith its own take on the issue, joined the discussion of great creator royalty.

The emergence of NFT aggregator sites has set off a fierce battle between markets, with many platforms sacrificing creators’ revenue in order to offer more attractive prices. It has received a lot of criticism because it loses an important element of

In the latest development of this increasingly popular strategy, LooksRare has lowered its default creator royalties to zero. Instead, he splits a quarter of his 2% platform fee between creators and collection owners, allowing buyers to opt-in for royalties if they lose their conscience.

Starting today, # looks rare We will no longer support creator loyalty by default and will instead share 25% of the LooksRare protocol fee with creators/collection owners.https://t.co/roNvv1q30R
Looks Rare (@LooksRare) October 27, 2022

In crypto winter, marketplaces are starting to feel the pinch as NFT sales plummet to their lowest level since January 2021, adopting increasingly desperate strategies to gain a foothold in the industry. increase. But when prices start to level off again, will they give up their profits entirely to gain the upper hand?

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