Try Quests to earn SOLEthereum - Open Analytics
Introduction
NFTs, or non-fungible tokens, amassed over $24 billion collectively from sales in 2021. NFT collections such as CryptoPunks and Bored Ape Yacht Club (BAYC) went viral, and many crypto enthusiasts bought NFT art aligned with their digital identities.
One NFT marketplace that took off in early 2021 was OpenSea, which recorded an all-time high trading volume of nearly $5 billion in January 2022. Although OpenSea currently dominates the NFT space, a platform called LooksRare has gained tremendous hype on social media platforms and is positioning itself to be quite the competitor with attractive features for users and a daily volume exceeding $394 million. Here’s a deep dive into LooksRare.
What Is LooksRare?
LooksRare is a decentralized, community-first NFT marketplace that actively rewards traders, token stakers, creators and collectors for participating on the platform.
Two unidentified founders going by the pseudonyms “Zodd” and “Guts” launched the platform in January 2022, with a team of 11 members tending to the project’s development. The aim of LooksRare was to dethrone OpenSea from its number one spot in the NFT market.
Source: bybit and looksrare.org
Findings
In this section, we see the number of NFTs sold from each collection on a daily basis. We see information such as the number and volume of sales of each collection and the number of buyers and sellers of each collection on a daily basis in 4 separate charts.
In the chart of daily sales numbers, it can be seen that from January to Feb 2022, the buying and selling of NFT is better than other months. From March to mid-April, the sales situation decreased, but from mid-April to early May, the situation is better again. In the chart, we see the beginning of the decrease in the number of sales from the middle of May. The two reasons for this decrease in sales can be considered the two important news of the Terra crisis and the announcement of an interest rate increase by the Federal Reserve, which caused a sharp drop in the market in May and June.
The highest number of daily sales is related to "Farm Land by Pixels" collection. this collection has sold 268 NFTs on January 31, 2022. The largest volume of daily sales is related to "Mutant Ape Yacht Club" Collection. The "Mutant Ape Yacht Club" collection is ahead of other collections with a sales volume of 199.2 million dollars on May 1, 2022.
Findings
In this section, we see NFT collections that are bought and sold on the LooksRare Marketplace. "Mutant Ape Yacht Club" collection is the most popular NFT collection on the LooksRare marketplace. This collection have sold 2,880 NFTs worth over $320 million by 2,679 sellers to 2,645 buyers. "Mutant Ape Yacht Club" Collection has attracted 32.2% of buyers and 31.6% of sellers. In the charts, we can see that "Bored Ape Yacht Club" Collection is in the second place in terms of sales volume with the sale of 860 NFTs worth 250 million dollars by 818 sellers to 817 buyers. More than 21% of the number of NFTs sold is related to "Raribles" collection. 1,670 sellers and 1,544 buyers have chosen "Raribles" Collection.
"Moonbirds" Collection have sold 932 NFTs worth over $6,320,000 by 887 sellers to 866 buyers. This collection is also one of the most effective collections in attracting sellers and buyers to the LooksRare Marketplace. "Doodles" and "ArtBlocks" collections have 9.4% and 7.9% of the number of NFTs sold in the LooksRare market, respectively, and are in the fourth and sixth place among popular collections.
Findings
In this section, we compare LooksRare Marketplace with other NFT marketplaces on the Ethereum blockchain. From the charts in this section, information such as the number and volume of sales, the number of buyers and sellers, the number of collections and NFTs of each collection and the average price of NFTs in different markets can be seen.
With the sale of 15.29 million NFTs worth $1.9 billion, the Opensea platform is in first place in terms of the number of NFT purchases and sales. The LooksRare platform is in the third place in terms of the number of purchases and sales with the sale of 271.5 thousand NFTs worth more than 2.7 billion dollars. After the Sudoswap platform, the LooksRare platform has the highest volume of NFT sales. In terms of the number of buyers and sellers, the LooksRare platform is after Opensea and x2y2. LooksRare platform has 7635 collections with 38 thousand NFTs. Therefore, in terms of the number of collections, it is after Opensea and x2y2 platforms.
Findings
In this chart, we see the average price of each NFT in different Ethereum marketplaces.
The average price of each NFT in LooksRare is $8,439
The average price of each NFT in Sudoswap and Larva labs are $27.8 and $13.8k
Findings
In this section, we see information including the number and volume of sales, the number of buyers and sellers, and the average price of each NFT based on the collections of each marketplace.
The largest number of buying and selling collections is related to the Opensea platform. Raribles, Art Blocks, Mutant Ape Yacht Club, and Bored Ape Yacht Club collections are the leaders in terms of the number and volume of purchases and sales on the Opensea platform. The number of purchases and sales of Art Blocks, Mutant Ape Yacht Club, and Bored Ape Yacht Club collections in LooksRare is less than in Opensea. The number of buyers and sellers of the collections mentioned in the platforms Opensea and x2y2 are more than that of LooksRare.
Findings
In this section, we see the price of each NFT from each collection in different marketplaces. For example, the price of Bored Ape Yacht Club Collection NFTs is higher on the Opensea platform than on the LooksRare platform.
Methodology
In this dashboard, we use the ethereum nft tables available in the flipside ethereum database to analyze the LooksRare Marketplace.
First, we will take a look at the NFT buying and selling situation in the Ethereum blockchain. Then we will examine the LooksRare marketplace from different aspects.
Metrics:
Overview of NFT Market on Ethereum
- Total Number of NFT Sales [Ethereum] - 2022
- Total Volume of NFT Sales [Ethereum] - 2022
- Total Number of NFTs [Ethereum] - 2022
- Total Number of NFT Buyers [Ethereum] - 2022
- Total Number of NFT Sellers [Ethereum] - 2022
- Total Number of NFT Marketplaces [Ethereum] - 2022
- Total Number of NFT Collections [Ethereum] - 2022
- Average of NFT Price [Ethereum] - 2022
LooksRare NFT Marketplace - General Statistics
- Total Number of Sales
- Total Number of NFTs
- Total Volume of Sales
- Total Number of Buyers
- Total Number of Sellers
- Total Number of Collections
- Average Price of NFT Sales
Collections Status - LooksRare NFT Marketplace
- LooksRare Collections - Number of Sales
- LooksRare Collections - Volume of Sales [USD]
- LooksRare Collections - Number of Buyers
- LooksRare Collections - Number of Sellers
Daily Collections Status - LooksRare NFT Marketplace
- Daily Number of Sales by Collections
- Daily Number of Buyers by Collections
- Daily Number of Sellers by Collections
- Daily Volume of Sales by Collections
LooksRare vs Others Marketplace
- Total Number of NFT Sales on Ethereum Marketplaces
- Total Volume of NFT Sales on Ethereum Marketplaces [USD]
- Total Number of NFT Buyers on Ethereum Marketplaces
- Total Number of NFT Sellers on Ethereum Marketplaces
- Total Number of NFTs on Ethereum Marketplaces
- Total Number of NFT Collections on Ethereum Marketplaces
- Average NFT Price on Ethereum Marketplaces [USD]
LooksRare Collections vs Others Marketplace Collections
- Total Number of NFT Sales on Ethereum by Collection
- Total Volume of NFT Sales on Ethereum by Collection
- Total Number of NFT Sellers on Ethereum by Collection
- Total Number of NFT Buyers on Ethereum by Collection
- Average Price of NFTs on Ethereum by Collection
Ethereum LooksRare vs Solana Magic Eden
- LooksRare vs Magic Eden - Total Number of NFT Sales - Last 3 Months
- LooksRare vs Magic Eden - Total Volume of NFT Sales [USD] - Last 3 Months
- LooksRare vs Magic Eden - Total Number of NFT Buyers - Last 3 Months
- LooksRare vs Magic Eden - Total Number of NFT Sellers - Last 3 Months
Conclusion
In this dashboard, we have examined the LooksRare market from different aspects. We compared the number and volume of sales, the number of buyers and sellers, the number of collections and NFTs, and the average price of each NFT with competing platforms. We saw that in terms of the number of purchases and sales, the biggest competitors of LooksRare are Opensea and x2y2 platforms. In terms of sales volume, the OpenSea platform is LooksRare's biggest competitor.
Some of the important points we reviewed in this dashboard:
- Total Number of Sales: 279k
- Total Number of NFTs: 38k
- Total Volume of Sales: $2.71B
- Total Number of Buyers: 88.7k
- Total Number of Sellers: 86.3k
- Total Number of Collections: 7.64k
- Average Price of NFT Sales: $8.44k
- "Mutant Ape Yacht Club" collection is the most popular NFT collection on the LooksRare marketplace. This collection have sold 2,882 NFTs worth over $322 million by 2,679 sellers to 2,645 buyers. "Mutant Ape Yacht Club" Collection has attracted 32% of buyers and 31% of sellers.
- The highest number of daily sales is related to "Farm Land by Pixels" collection. this collection has sold 268 NFTs on January 31, 2022.
- With the sale of 15.29 million NFTs worth $1.9 billion, the Opensea platform is in first place in terms of the number of NFT purchases and sales.
- LooksRare platform has 7635 collections with 38 thousand NFTs. Therefore, in terms of the number of collections, it is after Opensea and x2y2 platforms.
