on Bankless

Someone could replicate OpenSea…but give the upside to the community. Enter LooksRare—a community-owned NFT marketplace... They gave everyone who’s traded at least 3 ETH on OpenSea some tokens to win them over.

But LooksRare is off to a hot start. The community-owned NFT marketplace quickly surpassed OpenSea’s daily volume within 24 hours of launching, facilitating hundreds of millions of dollars in transaction volume.

LooksRare launched unaudited and without a public GitHub repo. This is frightening and irresponsible and I hope they change course. Until then, use at your own risk.

Overall this feels quite similar to the Uniswap vs. Sushiswap dichotomy. One is VC-funded and the other is not. Suits vs community.