LOOKS is the utility token for the LooksRare NFT platform.
LOOKS is a low-cap asset that represents the blockchain`s native currency or monetary fee used to execute transactions on the network. This asset is exposed to the underlying risks of LooksRare, a protocol rated as Watch out.
LOOKS has a fixed supply.
LOOKS trades with little to no correlation to the overall market.
LOOKS is the revenue-sharing token for the LooksRare platform. LOOKS stakers receive a percentage on all NFT sales excluding private sales. The main purpose of the token is to reward users who are staking. This includes the team itself as the platform does not accrue any revenue.
LOOKS launched with a total supply of 1B tokens. Of this amount, 75% was distributed to the community including 44.1% for volume trading rewards, 18.9% for staking rewards, and 12% for airdrop. The remaining 25% were distributed as follows: 1.7% for liquidity management, 3.35 for strategic sales, 10% for the founding team, and 10% for the treasury.
LOOKS collects a 2% sales fee (in ETH) on all NFT sales on the platform, excluding private sales. All of ETH collected from these fees are consolidated and distributed to LOOKS stakers.