Transferring ahead, we’ll first cowl the fundamentals. We’ll clarify what the LOOKS token from the LooksRare crypto undertaking is all about, and we’ll cowl the undertaking’s fundamentals and the LOOKS coin’s tokenomics. Plus, you’ll additionally learn the way the LooksRare token works and its position throughout the undertaking’s ecosystem. Subsequent, we’ll take a better have a look at the LooksRare crypto undertaking and its platform. That may full our primary elementary evaluation (FA) of LooksRare.
Then, we’ll shift our focus to the LOOKS value, and we’ll conduct an entire value evaluation. We’ll additionally use the fundamentals of technical evaluation (TA) to stipulate the asset’s key assist and resistance ranges. We’ll additionally use the Fibonacci retracement device to additional speculate on the place the value could be headed.
Alongside the way in which, you’ll additionally learn the way Moralis Cash will help you identify if and when you can purchase the LOOKS token. This wonderful on-chain evaluation device, constructed utilizing Moralis’ Web3 Knowledge APIs, can also be top-of-the-line solutions to the “The place can I purchase $LOOKS?” query.
What’s the LOOKS Token from LooksRare? Exploring LOOKS
The LOOKS token is the LocksRare ecosystem’s native token. The protocol’s token lives on the Ethereum chain, the place it follows the ERC-20 token normal.
Not like many different cash minted throughout deployment, the LOOKS coin is mintable till its one billion provide is reached. So, on the time of deployment (December 21, 2012), 200,000,000 LOOKS had been created. Since then, one other 700,000,000-plus LOOKs tokens have come to life. Thus, the asset is approaching its most provide.
Fundamentals
The platform is an NFT market; nevertheless, it additionally permits LOOKS holders to earn yield. Consequently, it’s a type of NFT-DeFi hybrid. However as identified above, the LooksRare token follows the ERC-20 token normal and lives on the Ethereum blockchain. So, the mechanisms of the token are managed by a number of sensible contracts on Ethereum. (Extra on that under.)
All in all, the LOOKS token is a utility token that permits customers who take part within the LooksRare ecosystem to earn yield and rewards.
LOOKS Coin Tokenomics
- Image/ticker: LOOKS or $LOOKS
- Community: Ethereum
- Token kind: ERC-20
- Minted on: December 21, 2021
- Token sensible contract handle: 0xf4d2888d29D722226FafA5d9B24F9164c092421E
- Preliminary whole provide: 200,000,000 $LOOKS (pre-minted tokens)
- Most whole provide: 1,000,000,000 $LOOKS
Token allocation is as follows:
Right here’s additionally a graphical illustration of LOOKS’s vesting intervals:
How the LOOKS Token Works
The asset’s emissions (newly minted cash) are ruled by the next two sensible contracts:
- “TokenDistributor”
- “TokenSplitter”
The previous permits customers to stake LOOKS to earn extra LOOKS. The latter receives $LOOKS distributed asynchronously in line with predefined weights. Plus, “TokenSplitter” additional distributes tokens to “TradingRewardsDistributor” and “VestingContractWithFeeSharing“.
As for the distribution of the LooksRare crypto token to LooksRare protocol customers, these are the next three facets you must contemplate:
- Stakers – Anybody holding LOOKS can deposit their tokens for auto-compounding rewards. That is the place the “FeeSharingSystem” sensible contract enters the scene. The latter is a further layer on high of the aforementioned “TokenDistributer” and in addition unlocks wETH rewards. These rewards come from the LooksRare trade’s protocol charges.
- Merchants – Utilizing “TradingRewardDistributor”, merchants get to gather each day buying and selling rewards in LOOKS. In fact, customers’ eligibility relies on their buying and selling quantity and excludes their personal sale methods.
- Liquidity suppliers – As per “StakingPoolForUniswapV2Tokens”, LOOKS liquidity suppliers can deposit liquidity in Uniswap v2. In trade, they obtain LP (liquidity pool) tokens that they will stake to earn LOOKS.
Function inside LooksRare
In case you lined the above part, you already know what the position of the LOOKS coin throughout the LooksRare protocol is. Nonetheless, it’s value repeating that the token is the protocol’s native forex. It at present permits its holders to earn yield by staking it and to gather a portion of the platform’s buying and selling charges.
Nonetheless, as identified by the LooksRare documentation, LOOKS doesn’t characterize any shareholding, participation, proper, title, or curiosity within the protocol, the distributor, their respective associates, or every other firm, enterprise, or enterprise. It additional outlines that LOOKS doesn’t entitle token holders to any promise of charges, dividends, income, earnings, or funding returns.
For the reason that LooksRare protocol is topic to alter, the one correct solution to contemplate the position of the LooksRare crypto token is as follows: LOOKS solely provides its holders the proper to make use of it as a method to allow utilization of and interplay throughout the LooksRare protocol.
For example, one planed utility for LOOKS comes within the type of governance rights.
What’s LooksRare?
LooksRare is a protocol constructed on high of the Ethereum blockchain. Moreover, it’s an NFT buying and selling platform (a market) permitting merchants and collectors to earn rewards.
In accordance with the undertaking’s documentation, LooksRare is a community-first NFT market whose mechanisms mechanically reward energetic participation.
One other quite distinctive side of the LooksRare crypto undertaking is its {custom} construct. Not like most different tasks that make the most of sensible contract templates, LooksRare’s docs declare that this protocol makes use of custom-built sensible contracts. The documentation additional explains that the protocol’s modular system permits the rollout of recent options with out compromising safety.
Be aware: In case you want to dive into the nitty-gritty of the LooksRare crypto protocol and its native token, be certain that to discover the undertaking’s docs. You may entry the latter through the undertaking’s official web site’s footer:
Crew and Neighborhood
The undertaking’s workforce is way from doxxed. Nonetheless, LooksRare’s docs embrace the “Crew” part, the place you possibly can view workforce members’ nicknames, roles, and hyperlinks to their GitHub profiles:
So far as the LooksRare crypto undertaking’s group goes, you may have a number of choices to affix. In case you want to learn, then you possibly can try the LooksRare weblog. The latter is an efficient place to remain up to date with the undertaking’s growth.
Nonetheless, if you’re searching for a extra partaking outlet, you possibly can go to the undertaking’s Instagram and X (previously Twitter) accounts and Discord channel. Yow will discover hyperlinks to those socials within the high menu of the undertaking’s official web site:
LOOKS Token Worth Evaluation
The above sections will show you how to decide whether or not or not you discover LooksRare attention-grabbing sufficient. Plus, they’re a very good place to begin for these eager to stake the LOOKS token. Nonetheless, in case your main curiosity revolves round buying and selling alts, then you definately ought to think about the LOOKS value. So, for that, let’s have a look at the asset’s weekly value chart:
The above logarithmic chart exhibits your entire value motion of the LOOKS coin to date. You may see that the token began to commerce within the first half of January 2022 after being listed at $1.72-ish. It is clear that the asset reached its present all-time excessive (ATH) stage throughout the first two weeks of buying and selling. That stage sits at $7.26-ish.
Nonetheless, following that top, the LOOKS value was in a transparent downtrend all through your entire 12 months of 2022. In fact, there have been some reduction rallies, at the same time as massive as 200%, alongside the way in which. Nonetheless, the asset remained in a transparent downtrend till November 2022, when it broke out of its ten-month-long downtrend.
Subsequent got here a 250% run. However the latter didn’t have sufficient steam to interrupt above the $0.41-ish stage, from the place it pulled again down once more. This time, the LOOKS value went even decrease – new assist got here into play on the $0.052-ish stage. Nonetheless, the value of the LOOKS token dipped as little as $0.004267 on August 14, 2023. The latter stays the coin’s all-time low (ATL).
On the time of writing, the LOOKS coin sits at $0.054-ish, simply above its lowest vital assist stage.
Technical Evaluation
The above value chart on a weekly timeframe and a logarithmic scale consists of all vital ranges (blue traces) and the 2 apparent trendlines (white traces). Nonetheless, we are able to additionally analyze the value on a each day timeframe utilizing the common scale:
For now, the LOOKS value is sure throughout the $0.052-ish-$0.066-ish vary. So, the transition right into a facet motion is obvious. Plus, the RSI indicator exhibits that the asset has fairly some power left. As such, the probability of its decrease assist holding is quite excessive.
And, if your entire crypto market had been to begin its transfer to the upside, we might see the LOOKS coin begin its uptrend as nicely.
Is $LOOKS a Good Funding? LooksRare Crypto Future Forecast
Getting into an asset after it has misplaced greater than 99% is clearly a dangerous transfer. Nonetheless, this will likely look like a “once-in-the-lifetime” alternative for individuals who consider within the LooksRare crypto undertaking. So, all of it relies on your preferences, monetary scenario, and danger tolerance when deciding whether or not to purchase LOOKS or not.
All in all, it is best to use the above part to find out whether or not or not the LooksRare token pursuits you. In that case, you must analysis the asset additional. And one of the best place to take action is Moralis Cash’s LooksRare ($LOOKS) token web page.
On that web page, you too can discover the token’s real-time, on-chain metrics (a.ok.a. alpha metrics). The latter is the important thing to getting your timing proper should you do resolve to get a bag of the LOOKS token. In spite of everything, on-chain exercise all the time precedes value motion!
Plus, the one method so that you can have some significant and never purely speculative sense of the place the LOOKS token is headed is to keep watch over its value together with its on-chain metrics.
So, to reply the above query with confidence, comply with the “$LOOKS” hyperlink above or use the interactive widget under to correctly analysis this NFT protocol coin:
However, it’s possible you’ll already know that you don’t just like the LOOKS coin, irrespective of the token’s efficiency. In that case, be certain that to not waste any of your treasured time with it. As an alternative, begin recognizing different altcoin gems with potential.
Fortuitously, you are able to do that shortly and simply, because of Moralis Cash’s core characteristic: Token Explorer!
Utilizing this wonderful device, many merchants, particularly those on the Starter and Professional plans, have been pocketing insane positive factors!
The place Can I Purchase $LOOKS?
There are numerous locations, each CEXs and DEXs, the place you should buy the LOOKS token. Nonetheless, should you consider in a decentralized future, you almost certainly need to keep away from CEXs. In that case, your only option is Uniswap.
That stated, when utilizing Uniswap, you run the danger of touchdown on the incorrect and even scammy token pair. So, as a substitute, you possibly can entry Uniswap’s liquidity proper on the Moralis Cash token web page for the LOOKS coin:
The Greatest Place to Purchase the LooksRare ($LOOKS) Cryptocurrency
The above-outlined prompt crypto swap characteristic is one of the best place to purchase $LOOKS. Not solely is it a particularly sensible path, however it’s also very safe and one of many most cost-effective crypto swap platforms. Because of the ability of the 1inch aggregator that powers Moralis Cash’s swap, you’ll all the time get one of the best accessible value!
If you’re new to swapping cryptos, be certain that to take a look at our step-by-step information on the way to swap ERC-20 tokens. Furthermore, the animation under ought to be greater than sufficient to show you the way to swap tokens with ease and with out breaking the financial institution:
What’s the LOOKS Coin? LooksRare Token and Venture Evaluation – Key Takeaways
- The LOOKS token is the LooksRare protocol’s native cryptocurrency.
- The LooksRare ecosystem is basically an NFT market that additionally gives rewards for customers.
- Customers can stake LOOKS to earn yield.
- The LOOKS value is about 99% under its ATH, and it is unattainable to inform if it may well recuperate within the upcoming bull market.
- If the undertaking had been to see correct adoption, the value of $LOOKS might improve considerably.
- To find out if and when to purchase the LooksRare token, use Moralis Cash’s web page for that asset.
- Discover different altcoin alternatives throughout all of the main chains (Ethereum, BNB Good Chain, Polygon, Fantom, and many others.) with Token Explorer.
Be aware: Do you know that Moralis Cash was constructed utilizing Moralis Web3 APIs? In case you’re a Web3 developer desperate to embark on creating next-gen Web3 apps, discover Moralis’ blockchain infrastructure. With Moralis’ complete toolkit, together with the Web3 Pockets API, Worth API, NFT API, and extra, you possibly can deploy dapps shortly and simply throughout quite a few totally different blockchain networks!