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Volume NFT, DAO and the curious case of LooksRare – TechCrunch

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Volume NFT, DAO and the curious case of LooksRare – TechCrunch

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Like you, I check NFT market volume multiple times a day to keep an eye on the booming market for buying and selling digital signatures on various blockchains that link to images etc. We are very cool.

Most of the time, the data is stable. OpenSea volumes tend to dominate the space, with other smaller NFT exchanges and some crypto games filling the list. You can check out DappRadar’s NFT market dataset here, a related list of numbers from NonFungible here, and some great map data from The Block here, if you want to dive in on your own.


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But recently the data has changed and an NFT market called LooksRare has been climbing the charts, quickly overtaking OpenSea’s results and taking the top spot among its competitors in terms of volume.

Volume NFT, DAO and the curious case of LooksRare – TechCrunch

 | Local NewsIs OpenSea in difficulty? Has LooksRare suddenly hit the top of the charts thanks to a better model, price list, or other commercial efforts? A little bit, but it seems like there is a lot of bullshit out there that makes the numbers look better than they are. So let’s talk about governance incentives and tokens to analyze what’s going on with LooksRare and the larger future of financializing everything.

Incentives

The data is pretty funny. In the past 24 hours, LooksRare recorded just under $ 290 million in NFT transactions, according to DappRadar data. OpenSea’s 24-hour tally is more modest at $ 131.6 million. Given how far away from OpenSea this single data point places LooksRare, have we seen a new market king crowned? No.

Volume NFT, DAO and the curious case of LooksRare – TechCrunch

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