LooksRare

LooksRare launched in January 2022 as a self-described community-first alternative to OpenSea — then the dominant NFT marketplace on Ethereum. The platform used a token-incentivized "vampire attack" strategy, airdropping its LOOKS governance token to OpenSea users based on their historical trading volume, and introduced reward mechanics that paid active traders and token stakers a share of platform fees. At its peak in Q1 2022, LooksRare briefly exceeded OpenSea in raw daily trading volume, though much of that activity was later determined to be wash trading incentivized by the token rewards structure.

The platform has since entered a prolonged decline alongside the broader NFT market. The LOOKS token, which launched at around $3.00 in early 2022, trades today at roughly $0.02 — a loss of over 99% from peak. Trading volume on the marketplace has fallen by a similar magnitude, with daily volumes often below $500,000 (down from peaks of $300M+ during the 2022 NFT bull market). Verify current trading volumes at looksrare.org.