LooksRare develops Zero Royalty Trading

There will inevitably be a major change in the offing regarding the method of conducting trading activities on the LooksRare platform hereon. The company has come out with a firm decision and much-studied calculation that it will no longer be paying any amount in the form of royalties to creators. Instead, action will plan to offer a 25% stake of the protocol fee duly set up by LooksRare. However, this applies to all of the creators on board and the collection owners.

However, in terms of the trading rewards allocation ratio, which has been given out till now, there have been major changes in the form of all favors being rendered to the sellers on board. However, this has all been thought of, and a decision was taken to facilitate zero percent fees charged by all sellers successfully.

The prime reason attributed to the necessity of making these paradigm shifts and changes is the presence of an overall reluctance to make any kind of payment in terms of royalties. However, this has become prevalent in all relevant and connected spheres in the NFT domain. However, this move indeed comes with a great advantage concerning all traders. However, the negative aspect surely stands with them now not being privy to any kind or form of sources of earning any passive income.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button