LooksRare, an NFT marketplace, might give OpenSea a run for its money
LooksRare is an NFT marketplace launched on Jan 10, 2022, and has already exceeded a whopping $394 million in sales. Dubbed as a major competitor of OpenSea, which recently raised $300 million, the new NFT marketplace seems to be on a roll just days after launch.
LooksRare brings new features to the table
LooksRare has brought new features to the table that has contributed to its rise. The platform's fee structure is one of those features. For basic sales, the platform charges only a 2% fee, while for private sales, it charges no fee.On the other hand, OpenSea charges 2.5% on all of its transactions which is a major drawback for the firm. LooksRare has its own token LOOKS through which users can earn rewards on making purchases or selling their NFTs on the platform. This makes a side income for investors on the platform.
Wash trading
The huge surge in sales just a few days from launch on LooksRare can be attributed to Meebits collection, a collection which is presented by LarvaLabs, the firm behind CryptoPunks. Loot and Meebits are the top two collections on the platform today, as per data from DappRadar.However, the platform has been overrun by wash trading, as seen by reports from multiple media outlets and the disclaimer put out by DappRadar. A prominent Twitter user by the username of 'dingaling' with 68.1K followers explained the whole scenario of wash trading going on in the LooksRare NFT marketplace.
He claimed that "this is all part of the larger strategy to bring traders/collectors over from Opensea" in a tweet and said that although wash trading looks bad, it isn't. However, another Twitter user by the username Matty with 172K followers said that wash trading on LooksRare is a major issue for investors.
However, Matty said that there are benefits of wash trading but, consequences apply too.
"Sales data matters, and anything that skews this massively will be a net negative to the entire ecosystem imo," said the Twitter user.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
