LooksRare Review – Is LooksRare Legit or Scam

LooksRare Review

LooksRare is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.

The benefits of LooksRare are closely linked to the utility of the tokens which will be reviewed on this article.

Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.

Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.

LooksRare Review

About LooksRare

A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review LooksRare token by explaining what the coin is about, tokenomics, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.

What is LooksRare?

LOOKS is the token powering LooksRare, the community-focused NFT marketplace that actively rewards traders and creators for participating.

100% of LooksRare’s platform trading fees are earned by LOOKS token stakers: a rewards model created in direct response to the previous generation of NFT marketplaces whose fees mostly reward a single entity.

Users earn LOOKS tokens by trading NFTs on LooksRare, staking LOOKS (which also earns WETH fees), and more.

LooksRare’s trading experience is intuitive for experienced NFT traders, while also providing new and innovative features like collection-wide offers, instant royalty payouts for creators, and flexible purchases using mixed tokens (WETH +ETH).

Behind the simple user experience lies an innovative, modular smart contract design and a full-stack built from the ground up for scalability, security, and speed.

LooksRare’s model was designed in direct response to the previous generation of NFT marketplaces, with the goal of fostering the NFT community by rewarding user participation.

LooksRare Supply

There are 461,372,581.25 LOOKS in supply worldwide.

Pros and Cons of LooksRare

Pros of LooksRare  
  • There is a surge in the market price currently
  • There is a community
  • Contract on Ethereum
  • They are fully decentralized
  • A lot of investors are ‘flocking’ to invest
  • It is listed on coinmarketcap
  • Good navigational website – LooksRare
Cons of LooksRare  
  • The coin is still under research and development
  • Project whitepaper unavailable
  • Multiple issues with its synchronizations between ledgers
  • Not listed on some exchanges
  • No Github profile
  • They have no reddit account
  • No Bitcointalk thread created
  • No traceable features on tradingview

Is LooksRare Legit or Scam?

A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.

According to research and reviews, LooksRare have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.

Is LooksRare Safe?

Being willing to invest in any token is a question entirely up to you to answer. LooksRare token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.

Make personal research on the coin, visit coin’s official website.

Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about LooksRare on the comment section below. Don’t forget to rate and leave LooksRare a review.