LooksRare just launched a new feature on their platform, beating its larger rivals to the punch. LooksRare now displays the floor price for each individual trait. This represents the first step towards enabling trait count and floor prices of traits at a collection level. For now, seems like LooksRare is taking the lead.
This presents a functional utility for investors, traders, and collectors. The LooksRare trait function significantly reduces the time taken to analyze different traits within an NFT collection. This can be especially useful given the amount of 10k projects hitting the market.
NFT marketplace race
While OpenSea remains at the top of the leaderboard, LooksRare has been active in introducing new features to their NFT marketplace. Taking advantage of OpenSea’s listing bug, LooksRare introduced a transfer function that warns users to cancel the listing before the transfer.
In addition, the comparison between LooksRare and OpenSea continues to brew in crypto Twitter. For instance, LooksRare tweeted the difference between a Bored Ape sale on OpenSea versus on LooksRare. Apparently, there is a $5k+ difference between the 2 NFT marketplaces. With the new function being released, seems like LooksRare is racking up the points against the mammoth NFT marketplace.
According to DappRadar, the race is pretty tight between the two platforms. LooksRare’s 30D volume almost triples that of OpenSea’s, while the 7D volume is currently neck to neck. It will be interesting to see if OpenSea reacts to this introduction, and who will come out on top.