The market for new non-fungible tokens (NFTs), called Looksrare, surpassed the Opensea area in daily volume on Wednesday. The stats show that 3,264 Looksrare traders made $385.39 million in sales over the last day, with the market seeing a 1,461% increase in daily volume.
Looksrare NFT Market captures first place in terms of daily NFT volume
There is a new NFT market based on Ethereum called Looksrare and over the last day it has surpassed Opensea in 24-hour trading volume. Of course, Opensea is the largest NFT market by volume ever with $14.68 billion in total sales. The NFT Looksrare Marketplace is new and hasn’t handled billions of dollars in sales.
The 24-hour stats show, however, that Looksrare’s daily volume and hourly volume exceeded Opensea’s sales on January 12, 2022. Looksrare saw $385.39 million in sales among 3,241 traders, down from Opensea’s 59,500 on Wednesday. Opensea’s 24-hour sales volume was $109.78 million as of Wednesday morning at 7:00 AM (EST).
While the market is new, the name has been Buzzing on social media After the market beat Opensea’s daily trade volume. “The tragedy of complacency. Just like Meeks during its heyday, Ubense may have succumbed to its own inertia, at ease in its entrenched dominance,”Hasaka” chirp.
People have also created charts on Dune Analytics that highlight volumes between both NFT platforms. For example, one user created a “Looksrare VS Opensea” set of charts that analyze daily and hourly volume between NFT markets. Other Dune Analytics users have created visual graphs for their Looksrare sales analysis.
One of the reasons for Looksrare’s increased popularity is that the project drops LOOK tokens from the air for anyone who has spent up to three Ethers on Opensea. While there are a number of airdropped tokens unofficially associated with Opensea users, the leading NFT marketplace does not have an official native token.
Dappradar.com’s NFT market data indicates that the average sale on Looksrare at the time of writing is $108K per unit. Meanwhile, other major NFT markets today include Solana’s Magic Eden with sales of $9.48 million, and Mobox with sales of $1.29 million. While Looksrare volume saw the largest percentage gain over 24 hours, Mobox saw an 87.08% increase.
What do you think of the NFT Marketplace Looksrare? Tell us what you think about it in the comments section below.
photo credits: Shutterstock, Pixabay, Wiki Commons, Opensea, Looksrare,
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