Rapid Insights: LooksRare Reward Rebalance Results in Otherdeed Price Slide

LooksRare recently revised its listing reward feature that, on the one hand, aims to attract more traders to its platform and, on the other hand, pursues deeper liquidity at the lower end of a collection’s price spectrum. The liquidity bootstrapping instrument was initially installed as a lavish reward printing machine that incentivized owners of all NFT collections to list their assets within a 1.4x range of the floor price.

However, less than three weeks ago, the NFT marketplace foreshadowed a major change of course in their listing reward policy by curtailing the eligibility criteria to verified collections, thereby tamping down expectations of abundant rewards for listers of lesser-known collections. To be exact, the verification status rests on three main pillars – legitimacy, large-scale operations, and cultural relevance.