The launch came at a time of frustration for many OpenSea users, who have dealt with numerous issues (website outages, frozen collections, lack of communication) as the company has handled the brunt of volume from the surging NFT market.
Does LooksRare solve all of these? Not yet — but in the ethos of Web3 and decentralization, LR certainly seems to fit the mold we all want to see out of a marketplace going forward, even if the final product still needs polishing.
At the very least, LooksRare is providing an interesting alternative — and maybe eventually pushes OpenSea to adapt and change. Competition is good! And this isn’t meant to be an anti-OpenSea section — what they have done to push NFTs mainstream is no small feat. And for all the complaints, the NFT market is nothing without them right now!
But I am definitely excited to see where this new model heads, and how it shakes up the NFT marketplace world going forward!