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Durian Capital Profile picture
Durian Capital
@DurianCapital
Long-only investor in blockchain, crypto and web3. Sharing some of my thoughts, happy to discuss and learn together!
Mar 4, 2022 • 26 tweets • 13 min read
$LOOKS Thread:
1/ Intro

While most of #LooksRare's volume has been wash trading, the legitimate NFT volume in Jan alone was still more than what #NFT marketplaces #Rarible, #SuperRare, #Foundation, #Makersplace, and #Aysnc did in all of 2021 combined.

That is still impressive. Remember that wash traders on #LooksRare still have to pay a 2% platform fee in $WETH.

As rewards lower, the $LOOKS earned may be worth less than the $WETH spent, making wash trading unattractive.