LooksRare (LOOKS) Price Prediction – 2023, 2025, 2030

LooksRare (LOOKS) Overview

LooksRare (LOOKS) Introduction

The NFT market blew up in 2021, creating gem marketplaces for transactions on many blockchains. Solanart is the leading digital marketplace for Solana crypto art, and OpenSea caters to Ethereum-based NFTs, while Treasure is for Layer 2 NFTs, especially Arbitrum. However, they also have competitors who leverage the glaring shortcomings of their predecessors to grow and develop their ecosystem. This was the Genesis of LooksRare (LOOKS) that was designed to compete with Opensea, the biggest NFT chain for Ethereum digital arts.

LooksRare features a simple user experience for beginner-friendly navigation which is underlaid by a revolutionary, modular smart contract design and a framework specifically built from the ground up for security, scalability, and speed. LooksRare infrastructure was designed as a result of the first generation of NFT marketplaces, but to cater to the NFT community by rewarding active user participation. The growth of the NFT marketplace through 2020 was unparalleled to an extent that it got the attention of traditional media houses and financial firms. By 2022, institutions like JPMorgan, Louis Vuitton, Instagram, Twitter, Roblox, and many other enterprises have adopted the use of NFT avatars in the metaverse to have an acceptable digital representation. During this growth in the overall market, the NFT community grew to millions of users while sales soared to billions of dollars transacted annually with Bored Ape Yacht Club (BAYC) and CryptoPunks headlining the blue chip (rare) segment.

However, with Opensea leading the NFT marketplace in terms of trading volume, market capitalization, and the number of users, what are the chances of LooksRare overtaking it in the nearest future? LooksRare has managed to gain users’ attention with an airdrop released to the early users who have transacted a certain amount of Ether in 2021. This airdrop was distributed in the form of LooksRare token, LOOKS, that had an increased circulating supply as many users adopted the use of the marketplace.

What is LooksRare (LOOKS)?

LooksRare is a community-driven and decentralized NFT marketplace that actively incentivizes art creators, traders, collectors, and stakers for contributing and participating in the platform. LooksRare is built on the Ethereum network and allows the traders to buy and sell Ethereum-based NFTs available on Opensea while charging the participants a 2% sales fee in Wrapped Ether (WETH), a token pegged to Ethereum, on all NFT sales except private sales. All WETH transaction charges gotten from the sales are combined at the end of each 6500 Ethereum block period, which is equivalent to 24 hours, and distributed to LOOKS token stakers for each block during the next block span. The platform users can claim their WETH rewards at any time and every time they want but have to pay gas charges on every withdrawal. In an event where a user forgets to claim their WETH, or decides to wait till the gas charges are lower, their WETH will continue accumulating as long as their LOOKS tokens are staked.

LooksRare distributes all the revenue generated on the platform to LOOKS token stakers as a community-focused project. The developing team is rewarded if the project does well as they do not gain revenue from the project like the rest of the community. The cryptocurrency market believes that LooksRare engaged his audience through a “Vampire attack” method, a term used to describe how a project offers better rewards to users to capture the base. LooksRare launched this attack to get users on its platform through the LOOKS airdrop. As a result of this token airdrop on the platform in 2021, it has a closing price of $7 from the lowest price of $0.5 just ten days after its release. The reward system on the platform ranges from staking to trading where the users are rewarded with LOOKS and WETH token at the same time and the staking rewards exceeds 700% APR. Moreover, the royalty payments are instantly made to art creators once a sale is made to prevent excessive lagging in a settlement.

LooksRare (LOOKS) Fundamental Analysis

The founders of LooksRare are still anonymous with name tags of “Zodd” and “Guts” with a team of eleven individuals who are focused on building the platform.

Tokenomics

LOOKS token has a total supply of 1 billion coins which was distributed within the community in ratios of 44.1% to volume rewards, 18.9% to staking rewards, 12% to airdrops, 10% to the founding team, 10% to the treasury, 3.3% to strategic sale, and 1.7% to liquidity management.

LooksRare Scalability And Uniqueness

LooksRare has set itself apart from other platforms like Opensea as they have tried to cement their exclusivity in various ways like the community-based projects which are traded on the website with Metamask after the users connect their wallets. The users get to customize their profiles before trading the NFTs with WETH or ETH. The community culture and business model are also different because it is more user oriented and democratic than Opensea which is highlighted in the tokenomics where 75% of the total supply is deployed to the community. LooksRare charges a flat rate of 2% fee on all transactions compared to the 2.5% charged by Opensea.

LooksRare (LOOKS) Current Price

LooksRare is currently worth $0.110245 USD. LOOKS has moved 7.62% in the last 24 hours with a trading volume of $7,090,937. LooksRare is currently ranked 401 amongst all cryptocurrencies with a market capitalization of $110,238,841 USD.

Utilizing the relative strength index (RSI), moving weighted average (MWA), williams fractal (fractal) and moving average convergence divergence (MACD) from the chart above, we can determine price patterns for LooksRare (LOOKS) to decide wether it is going to have a bullish or bearish year.

LooksRare (LOOKS) Price Predictions

From the characteristic volatile price movements in the crypto market, our business analysts and experts have made predictions after proper analysis with technical indicators like moving averages, awesome oscillator, action RSI, neutral ultimate oscillator, and tracking resistance and support levels of digital coins. With our website algorithm, we evaluated the potential price of LooksRare (LOOKS) while highlighting the possible average trading price, the highest possible price in the next few years, and the minimum price value which is constantly updated according to the market sentiment. Let’s have a look.

Our price prediction forecasts use real-time LooksRare (LOOKS) market data and all data is updated live on our website. This allows us to provide dynamic price predictions based on current market activity.

LooksRare (LOOKS) Price Prediction 2023

LooksRare, according to some, is one of the most amazing cryptocurrencies to rise this year (LOOKS). The LOOKS price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $0.165368.

As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $0.154343 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. LOOKS is expected to have a minimum value of $0.132294.

LooksRare (LOOKS) Price Prediction 2024

In 2024, LooksRare LOOKS price prediction has much room for expansion. As a result of the potential announcements of numerous new partnerships and initiatives, we anticipate that the price of LOOKS will soon surpass $0.275613. However, we should wait to see if the LOOKS’s relative strength index comes out of the oversold zone before placing any bullish bets.

Considering the market volatility, LOOKS will trade with a minimum trading price of $0.220491 and an average trading price of $0.24254.

LooksRare (LOOKS) Price Prediction 2025

If the upward trend continues until 2025, it could reach $0.385858 and LOOKS may profit. If the market experiences a decline, the goal may not be met. LOOKS is expected to trade at an average price of $0.352785 and a low of $0.330736 in 2025.

LooksRare (LOOKS) Price Prediction 2026

If LooksRare successfully boosts market sentiment among cryptocurrency enthusiasts, the LOOKS coin price could remain stable for the next five years.

According to our projections, LOOKS will be green in 2026. The LOOKS is expected to reach and surpass its all-time high in 2026. In 2026, the virtual currency will be worth $0.496104, with a minimum price of $0.440981 and an average price of $0.46303.

LooksRare (LOOKS) Price Prediction 2027

After some extensive forecasting and technical analysis, we estimate the LOOKS price is expected to cross an average price level of $0.573275 by 2027, with a minimum price of $0.551226 expected before the end of the year. Furthermore, LOOKS has a maximum price value of $0.606349.

LooksRare (LOOKS) Price Prediction 2028

Due to the future partnerships that are expected to happen by 2028, we are expecting that a bullish trend will continue, bringing the average price to around $0.683521. If LOOKS manages to break the resistant level in 2028, we could see a maximum price of $0.716594, failing to gather the support LOOKS needs by 2028 could result in a low of $0.661472.

LooksRare (LOOKS) Price Prediction 2029

While LOOKS is striving towards interoperability between networks to hasten interaction, the bullish trend from the previous year is expected to continue. So the minimum trade price has been placed at $0.771717 and a yearly price close above $0.82684 in 2029.

LooksRare (LOOKS) Price Prediction 2030

By 2030, LooksRare will finally surpass its previous ATH values and record new price levels. The minimum price could be $0.881962 and potentially reach a maximum price value of $0.937085, averaging out at $0.904011.

LooksRare (LOOKS) Price Prediction 2031

The cryptocurrency market is known to be highly volatile which is one of the many reasons why price forecasting is a difficult task. BitcoinWisdom tries our best to forecast future price points with precision, however all predictions should not be taken as financial advice and you should DYOR (do your own research). In 2031, we are expecting cryptocurrency to have gained adoption across many sectors. As such, the maximum LOOKS price in 2031 is projected to be $1.08 in the event of a bull run, with an average price level of $1.04.

Conclusion

LooksRare appears to be a good investment for potential crypto and NFT traders to make a profitable investment in the long term. LooksRare has made a significant contribution to its community through the trading system which some traders exploit in a term known as “wash trading” to make profits through the reward program. However, as long as the active interest in the NFT sector is maintained, the potential of LOOKS souring in its market cap is high but we recommend that you manage your risk size before joining the platform as this guide cannot be considered financial advice.

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