Creators & users sell NFTs on LooksRare. They receive royalties from secondary sales (supply-side fees).

LooksRare is a non-custodial NFT marketplace protocol built on Ethereum and launched in 2022.

LOOKS tokenholders own and govern the protocol. They currently take a cut of the total transaction fees paid by buyers (revenue).

github

twitter

discord

etherscan

website

NFT marketplaces

LooksRare

# LooksRare Fees Methodology

## 1. Overview

LooksRare fees represents the total daily fees collected by the LooksRare protocol from NFT marketplace activities. This includes both fees collected directly through LooksRare's native exchange contracts and fees earned when LooksRare facilitates trades through the Seaport protocol as an aggregator. The metric combines protocol fees (trading fees charged by LooksRare) with royalty fees (paid to NFT creators) to show total fee collection. Fees are converted to USD and aggregated daily.

## 2. Data sources

- **LooksRare v1 exchange events**: Parsed Ethereum `TakerBid` and `TakerAsk` events from LooksRare's v1 exchange contract containing trade details and pricing
- **LooksRare v1 royalty events**: Parsed Ethereum `RoyaltyPayment` events from LooksRare's v1 exchange contract containing creator royalty distributions
- **LooksRare v2 exchange events**: Parsed Ethereum `TakerBid` and `TakerAsk` events from LooksRare's v2 exchange contract with structured fee arrays
- **Seaport OrderFulfilled events**: Parsed Ethereum `OrderFulfilled` events from OpenSea's Seaport contracts (versions 1.1 through 1.6) containing order execution details and fee structures
- **Seaport order matching data**: Parsed Ethereum `OrdersMatched` events and `matchOrders` function calls across Seaport versions to identify complex order scenarios
- **End-of-day token price feeds**: Daily closing prices for tokens involved in fee payments
- **Token metadata**: Token contract information including decimal places for proper amount calculation

## 3. Step-by-step calculation

### Component A: Native looksRare exchange fees

- **Purpose**: Calculate fees collected directly from LooksRare's native exchange contracts (v1 and v2)
- **Logic**: Extract trade events from LooksRare v1 (`TakerBid` and `TakerAsk`) and v2 exchange contracts. For v1 trades, join with `RoyaltyPayment` events to get royalty amounts and calculate protocol fees as 2% of the trade price. For v2 trades, extract royalty and protocol fee amounts directly from the structured fee arrays in the events. Map buyer and seller addresses appropriately based on whether the event is a bid or ask. Each trade event includes the transaction details, NFT collection and token ID, payment token, and calculated fee amounts.
- **Key fields**: `royalty_amount` from royalty events or fee arrays, `protocol_fee_amount` calculated at 2% for v1 or extracted from fee arrays for v2, `token_address` for the payment currency, buyer and seller addresses

### Component B: LooksRare fees from Seaport trades

- **Purpose**: Calculate fees earned by LooksRare when facilitating trades through the Seaport protocol as an aggregator
- **Logic**: Process `OrderFulfilled` events from Seaport contracts versions 1.1-1.6, filtering only transactions where LooksRare's fee recipient address (`0x1838de7d4e4e42c8eb7b204a91e28e9fad14f536`) appears in the consideration array. Parse offer and consideration arrays to identify NFTs versus payment tokens using token type IDs (0,1 for currencies, 2,3 for NFTs). Handle matched versus unmatched orders differently, using order matching data to identify complex scenarios. Calculate fee amounts by identifying consideration items where the recipient is LooksRare but not the buyer or seller. Extract NFT buyer/seller addresses, payment tokens, and NFT contract addresses from the order structure.
- **Key fields**: `fee_amount` from consideration items going to LooksRare, `token_address` for payment currency, `nft_buyer_address` and `nft_seller_address` from order participants, `nft_address` for the traded NFT collection

### Final aggregation

- **Combining components**: Union the native LooksRare exchange fees with the Seaport-facilitated fees into a single dataset, ensuring consistent field mapping between the two sources
- **Currency conversion**: Convert ETH addresses (`0x0000000000000000000000000000000000000000`) to WETH addresses (`0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2`) for price lookup compatibility. Apply decimal correction based on token metadata and convert all fee amounts to USD using end-of-day price feeds
- **Time aggregation**: Truncate all timestamps to daily boundaries and aggregate fees by day. For each transaction, sum the `royalty_amount` and `protocol_fee_amount` to get total fees
- **Final calculation**: Sum all daily fee amounts in USD across both native exchange and Seaport sources. Apply zero-filling to ensure continuous daily time series. The final metric represents total daily fees collected by LooksRare from both direct exchange activity and aggregation services, with data available through February 21, 2024

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

LooksRareLOOKS

Archived

Fees

Fees

Competitive landscape