LooksRare, the rapidly growing NFT marketplace, has announced a strategic partnership with MoonPay, a globally recognized payment solution provider. The integration of MoonPay into the LooksRare platform will bring a level of trust and credibility to the NFT space, ensuring secure transactions for NFT buyers and sellers.
The NFT market is experiencing a surge in growth, and LooksRare is positioning itself to capitalize on this opportunity by making it easier for users to engage in NFT transactions. By partnering with MoonPay, LooksRare is improving the overall user experience and offering its users access to a wider range of payment options.
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Since its launch in January 2022, LooksRare has had a big effect on the NFT market. It quickly surpassed OpenSea in terms of transaction volume. In its first week, LooksRare had doubled the trade volume of OpenSea, the previous market leader, according to Dune Analytics. This high volume is due to “wash trading,” where users trade through secondary accounts to take advantage of LooksRare’s incentives. After X2Y2, OpenSea, and Blur, LooksRare ranks fourth in terms of the number of daily transactions.
MoonPay and LooksRare Partnership: A Game Changer
The partnership with MoonPay eliminates the need for a crypto wallet, making the process of buying NFTs on LooksRare faster and more convenient for both buyers and sellers. This is a critical component for the growth of the NFT market, as it will increase the speed and efficiency of NFT transactions, making it easier for NFT creators to sell their works and for buyers to secure their NFT investments.
MoonPay has a reputation for being a reliable and secure payment solution and has previously partnered with NFT marketplaces like OpenSea. Oliver Jeffcott, senior business development manager at MoonPay, commented on the partnership, stating, “MoonPay’s goal since its inception has been to enhance access and ease-of-use for the Web3 community, and this partnership is a step towards realizing that vision.”
The partnership between LooksRare and MoonPay is a major development in the NFT space, offering a safer and more convenient way for NFT buyers and sellers to engage in transactions. With the support of innovative companies like LooksRare and MoonPay, the NFT market aims to reach new heights shortly.
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