NFT volume, DAOs and the curious case of LooksRare – TechCrunch

I check like you The NFT market volumes multiple times each day to keep tabs on the booming market for buying and selling digital signatures on various blockchains that point to images and the like. We are so cool.

Mostly, the data is static. OpenSea volumes tend to take center stage, with other smaller NFT exchanges and some crypto games filling the list. You can take a look at DappRadar’s NFT market data set here, a list of related numbers from NonFungible here, and some nice chart data from The Block here, if you want to dive in on your own.


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But the data has recently changed, and an NFT market called LooksRare appeared on the charts, quickly surpassing the results of OpenSea and taking the first place among its competitors by volume.

Is OpenSea in trouble? Has LooksRare suddenly climbed to the top of the charts thanks to a better model, price list, or other trading effort? Kinda, but there seems to be a lot of nonsense going down to make the numbers look better than they are. So let’s talk incentives and governance codes to analyze what happened with LooksRare and the larger future of financializing everything.

incentives

The data is very funny. In the past 24 hours, LooksRare has seen just under $290 million in NFT deals, according to DappRadar data. OpenSea’s 24-hour tally is an even more modest $131.6 million. Given how advanced OpenSea is on that single data point that sets LooksRare, have we seen a new king of the market being crowned? number.

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