Rapid Insights: LooksRare Reward Rebalance Results in Otherdeed Price Slide
Quick Take
- LooksRare has revised its listing reward program that compensates traders for listing eligible NFTs within a certain price range.
- Yesterday, changes pertaining to the second part of this update went live.
- Because listing rewards are now limited to the 200 lowest-priced NFTs in eligible collections, this has created negative externalities for select collections.
- Otherdeed’s floor price has dropped by -19.7% since this update was implemented.
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Author: Thomas Bialek
