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LooksRare, one of the many non-fungible token marketplaces on the Ethereum blockchain network, has teased launching a new NFT collection for its newly launched NFT game, Infiltration. The NFT marketplace anticipates boosting its market health through gaming.

LooksRare Teases A New NFT Collection

In a November 15 blog post, LooksRare NFT marketplace teased plans to launch a new NFT collection in the coming days. Even though there is now limited information, the now highly anticipated NFT collection is anticipated to have some in-game utility.

Launched earlier last year, LooksRare is an Ethereum-based NFT marketplace that allows users to buy or sell NFTs to earn rewards in the form of its native utility tokens LOOKS. The platform has a standard 2% sales fee on all NFT sales, which is slightly lower than OpenSea’s NFT marketplace, 2.5%.

The NFT market platform was co-founded by the pseudonymous “Zodd” and “Guts” and now has a team of 22 staff across the globe, although there is still some mystery surrounding its operations. LooksRare offers connection to three Ethereum-compatible wallets, including MetaMask, WalletConnect, and Coinbase Wallet.

LooksRare NFT Market Health

LooksRare is looking forward to boosting its trading sales volume, this time through gaming, after suffering a brutal downturn in the past several months. Based on token data recently shared by Web3 Academy on October 26, the monthly trading volume of LooksRare fell 97% in the past month.

The monthly trading sales volume crashed from $71.9 million in September 2023 to just $2.1 million in October. The unprecedented drop in activity came despite the broader crypto market recovering. Since mid-last month, the leading assets, including Bitcoin (BTC) and Ethereum (ETH), have gradually risen in price.

In the meantime, LooksRare anticipates launching its highly awaited NFT collection next week on November 23. Its eagerly awaited play-to-earn NFT game is slated to launch the same day. The NFT game will allow players to build a squad of world-class robbers, raiders, and all-around bad mfers. Then, it allows them to send their squad on the heist of a lifetime.

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