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 Supply-side fees Methodology

## 1. Overview

Fees supply side measures the total royalty payments made to NFT creators through the LooksRare marketplace and aggregation services. This metric captures creator royalties from two primary sources: direct trades on LooksRare's native exchange contracts (both v1 and v2) and trades facilitated through LooksRare's integration with Seaport protocol. The metric represents the portion of trading fees that flows to NFT creators rather than to the protocol or marketplace operators.

## 2. Data sources

The calculation draws from several Ethereum blockchain data sources:

- **LooksRare Exchange v1 events**: Parsed `TakerBid` and `TakerAsk` events from LooksRare's original exchange contract, containing trade execution data
- **LooksRare Exchange v1 royalty events**: Parsed `RoyaltyPayment` events that record actual royalty distributions to creators
- **LooksRare Exchange v2 events**: Parsed `TakerBid` and `TakerAsk` events from LooksRare's updated exchange contract with integrated royalty data
- **Seaport protocol events**: Parsed `OrderFulfilled` events from Seaport versions 1.1 through 1.6, capturing NFT trades facilitated by LooksRare's aggregation services
- **Seaport order matching data**: Events and function calls related to advanced order matching scenarios that require special handling
- **End-of-day token price feeds**: USD exchange rates for converting native token amounts to dollar values
- **Token metadata**: Decimal precision information for proper amount calculations

## 3. Step-by-step calculation

### Component A: LooksRare direct exchange royalties

- **Purpose**: Captures creator royalties from trades executed directly on LooksRare's native exchange contracts
- **Logic**: For LooksRare Exchange v1, the system joins trade execution events (`TakerBid` and `TakerAsk`) with corresponding `RoyaltyPayment` events based on transaction hash, contract address, and token ID to extract actual royalty amounts paid to creators. For LooksRare Exchange v2, royalty amounts are directly available in the `feeAmounts` array within trade events, specifically at index 1. The model processes both bid and ask transactions, extracting trade details including buyer address (`taker`), seller address (`maker`), NFT collection address (`collection`), payment token address (`currency`), and the calculated or recorded royalty amount
- **Key fields**: Trade events contain `orderHash`, `tokenId`, `taker`, `maker`, `collection`, `currency`, `price`, and `amount` fields. Royalty events provide `royaltyRecipient` and royalty `amount`. Exchange v2 events include structured `feeAmounts` arrays where position 1 contains creator royalties

### Component B: Seaport aggregated royalties

- **Purpose**: Calculates net creator royalties from NFT trades facilitated through LooksRare's Seaport aggregation services
- **Logic**: The system parses Seaport `OrderFulfilled` events across versions 1.1-1.6, flattening the nested `offer` and `consideration` arrays to identify individual payment components. It classifies token types where values 0 and 1 represent currencies (ETH and ERC20) while values 2 and 3 represent NFTs (ERC-721 and ERC-1155). Fee amounts are identified as consideration payments made to addresses other than the direct buyer or seller. The system filters to only include transactions where the LooksRare fee account (`0x1838de7d4e4e42c8eb7b204a91e28e9fad14f536`) receives payments, indicating LooksRare facilitated the trade. Net creator royalties are calculated by taking total fee amounts and subtracting the protocol fees paid directly to LooksRare, with the remainder representing creator royalties
- **Key fields**: Seaport events contain `orderHash`, `offerer`, `recipient`, `zone`, nested `offer` and `consideration` arrays with `token`, `itemType`, `amount`, and `recipient` fields. The `itemType` determines whether an item represents currency or NFT, while `consideration.recipient` identifies fee recipients

### Component C: Data standardization and filtering

- **Purpose**: Normalizes data formats and applies consistent filtering across both royalty sources
- **Logic**: The system converts null ETH addresses (`0x0000000000000000000000000000000000000000`) to WETH addresses (`0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2`) to enable price conversions. Timestamps are truncated to daily boundaries using `timestamp_trunc` function. Transaction data is filtered to include only records up to February 21, 2024. Both royalty sources are combined using union operations, maintaining consistent field structures including transaction hash, log index, account address, chain identifier, business classification fields, and standardized amount values
- **Key fields**: Standardized output includes `timestamp`, `transaction_hash`, `log_index`, `account_address`, `chain`, `order_hash`, `buyer_address`, `seller_address`, `nft_address`, `token_address`, and `fees_supply_side` amount

### Final aggregation

- **Combining components**: The two royalty components are combined using a union operation, creating a unified dataset of all creator royalty payments facilitated by LooksRare services. Each record represents a single royalty payment with associated trade metadata
- **Currency conversion**: Token amounts are converted from native blockchain units to standardized decimal format using token-specific decimal correction, then converted to USD values using end-of-day exchange rates via the `convert_to_usd_and_correct_decimals` macro
- **Time aggregation**: Data is aggregated by day using `timestamp_trunc` function, with all royalty payments within a day summed together. The final output uses the `finalize_metric_fees_supply_side` macro with a 'fill_zeros' strategy to ensure complete daily coverage with zero values for days without royalty payments
- **Final calculation**: The metric represents the total daily USD value of creator royalties facilitated by LooksRare, combining direct exchange royalties with net creator royalties from Seaport aggregation services, providing a comprehensive measure of value flowing from LooksRare's marketplace activities to NFT creators

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

Portion of fees distributed to service providers or supply-side participants.

LooksRareLOOKS

Archived

Supply-side fees

Supply-side fees

Competitive landscape