NFT Trading Platform LooksRare Launches V2 With Exciting New Features

On April 7th, it was announced that the NFT trading platform LooksRare had launched the V2 version, which provided the following updates: a fee reduction of 0.5%; Gas fee is 50% cheaper than Blur; One signature batch order listing; Purchase over 70 NFTs at once; Sellers can receive ETH instead of WETH.

NFT trading platform LooksRare announced the launch of V2 version

The world of cryptocurrency has seen tremendous growth in recent years, with the advent of Non-Fungible Tokens (NFTs) revolutionizing the digital asset world. Among the various NFT trading platforms, LooksRare has made a name for itself thanks to its user-friendly interface and prompt transactions. On April 7th, 2021, the platform launched the V2 version, providing a boost to the already efficient service.

Overview of V2 Features

1. Fee Reduction: The new update comes with a fee reduction of 0.5%, making transactions even more affordable for users.
2. Cheaper Gas Fee: The Gas fee on the V2 platform is now 50% cheaper than on the previous version, making it more accessible and cost-effective for users.
3. One Signature Batch Order Listing: Previously, the batch order listing process was time-consuming for users. Now, with the new feature, users can place their listings in a single signature, making the process more efficient.
4. Purchase over 70 NFTs at once: The platform has now made it possible to purchase over 70 NFTs in one transaction, eliminating the need for multiple purchases, saving users time and money.
5. Sellers can receive ETH instead of WETH: Previously, sellers could only receive Wrapped Ethereum (WETH), but with the new upgrade, sellers can now receive Ethereum (ETH), increasing flexibility and convenience for those transacting on the platform.

The Significance of the V2 Upgrade

The launch of the V2 LooksRare platform is a significant development for the NFT trading community, as it brings with it a host of features that improve user experience significantly. The new version’s features are designed with efficiency and accessibility in mind, ensuring users’ transactions are fast and affordable.
The fee reduction and cheaper Gas fees, in particular, are welcome changes, as they make trading on the platform much more affordable. The one signature batch order listing and ability to purchase over 70 NFTs in a single transaction equally provide users with much-needed efficiency and convenience.
The upgrade also addresses a particular issue that users encountered when transacting on the platform – the inability to receive ETH as a seller. This development was long-awaited and finally addresses the challenge many users had when they wanted to manage their assets on other platforms that do not support WETH.

Conclusion

The V2 LooksRare platform i san exciting addition to the growing world of NFT trading platforms. It offers a host of features that streamline users’ trading experience, making it faster, more accessible, and more affordable.
The fee reduction and cheaper Gas fees will go a long way in making the platform more accessible to users, while the ability to purchase over 70 NFTs per transaction is a time-saving measure that will also benefit traders immensely.
Overall, the V2 upgrade conveys the LooksRare platform’s commitment to providing a world-class user experience, and its significance is sure to be felt in the NFT trading community for a long time to come.

FAQs

1. What is LooksRare, and why is their new platform version significant?
LooksRare is an NFT trading platform that launched its V2 update on April 7th, 2021, bringing with it a host of features that improve user experience significantly. With a fee reduction, cheaper Gas fees and improved purchasing and batch listing options, LooksRare’s V2 platform version makes NFT trading more accessible and affordable than ever before.
2. How will the V2 upgrade impact sellers on the platform?
Sellers on the LooksRare platform can now opt to receive Ethereum instead of Wrapped Ethereum, making it more convenient to manage their assets on other platforms that lack WETH support.
3. What does the new one signature batch order listing feature entail?
The one signature batch order listing feature is designed to make batch order listing more efficient. Users now place their listings in a single signature, making the process faster and more convenient.