Vampire attack! LooksRare vs. OpenSea - Blog
Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey, Justin Mart, & Mike Cohen (WE’RE HIRING) Only in crypto can a platform built by anonymous founders come out of nowhere to challenge an industry leader, all in a matter of weeks. That’s precisely what happened with the launch of NFT marketplace LooksRare, whose $9B+ in January volume nearly tripled that of OpenSea. On top of that, within 30 days of launch LooksRare produced $307M in protocol revenue, vs OpenSea’s $110M over the same period. Play Listen on Spotify or Apple The raw numbers don’t tell the full story, however… In this edition of Around The Block, we’ll explore the LooksRare vampire attack of industry leading NFT marketplace OpenSea. Vampire attacks are purely a crypto/Web3 phenomena. At their highest level, a vampire attack refers to a method for sucking users out of an existing platform into a competing one by offering some kind of incentive (typically tokens). The most
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