LooksRare, a well-known #NFT marketplace, has launched its V2 version.

With this upgrade, the agreement cost will decrease from 2% to 0.5%, yielding savings of up to 75%. Additionally, users will be able to buy more than 70 NFTs in bulk, and gas prices are anticipated to be 50% lower than those charged by other markets like Blur.

As a powerful competitor emerging in the NFT sector, #Blur is comparable to OpenSea.

V2 is the foundational layer required for future effective functioning, according to LooksRare. The firm's goal is to get ready for a time when NFTs will be 10, 100, or 1,000 times bigger than they are now. Users will profit from the new edition's lower prices, options for bulk buying and selling, and reusable signatures.

Improved collection offers, auction forms for NFT sales, fixed price listings in USD, and trait-based offers are some upcoming improvements of the V2 version. Additionally, a referral program is offered, enabling customers to refer friends and share in the protocol costs.

The team announced the retirement of #LooksRare v1 in a different article on April 7. After April 12, customers won't be able to publish version 1 auctions over the open API using the app's front end.

Starting on April 13 at 10:00 A.M. UTC, all current v1 auctions will be erased from the website and at 11:00 A.M. UTC, the smart contracts themselves will be terminated using an admin tool.

The announcement has mostly garnered positive feedback, and many LooksRare fans think the new features will seriously threaten competitors like #OpenSea and Blur. But opposing opinions continue, with some arguing that v2 still doesn't offer the same token incentives or a comprehensive array of NFT collections as present competitors.

This news is republished from https://coinaquarium.io/