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).

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LooksRare

# LooksRare Trading volume Methodology

## 1. Overview

LooksRare trading volume measures the total USD value of NFT transactions facilitated by the LooksRare marketplace, including both direct trades on LooksRare's native exchange contracts and aggregated trades through Seaport where LooksRare receives fees. This metric captures the complete trading activity attributable to LooksRare's marketplace services across different protocol versions and integration methods.

## 2. Data sources

- **LooksRare exchange events**: Parsed `TakerBid` and `TakerAsk` events from LooksRare's v1 and v2 exchange contracts on Ethereum, containing trade execution details, prices, buyer/seller addresses, and NFT information
- **LooksRare royalty events**: Parsed `RoyaltyPayment` events from LooksRare v1 exchange contract providing creator royalty distribution data
- **Seaport trading events**: Parsed `OrderFulfilled` events from Seaport protocol versions 1.1 through 1.6 on Ethereum, including offer and consideration arrays with token transfers and recipient details
- **Seaport order matching data**: Parsed `OrdersMatched` events and `matchAdvancedOrders`/`matchOrders` function call data from Seaport protocol to identify batch trade scenarios
- **End-of-day token price feeds**: Daily closing prices for all traded tokens to enable USD conversion
- **Token metadata**: ERC-20 token decimal specifications for proper amount normalization

## 3. Step-by-step calculation

### Component A: Direct looksRare exchange trades
- **Purpose**: Captures trades executed directly on LooksRare's native v1 and v2 exchange contracts
- **Logic**: Extracts `TakerBid` events (offers to buy NFTs) and `TakerAsk` events (offers to sell NFTs) from both exchange versions. For v1 trades, joins with `RoyaltyPayment` events to capture creator fees and calculates protocol fees at 2% of trade price. For v2 trades, extracts pre-calculated fee amounts from event arrays. Standardizes ETH addresses to WETH for consistent price conversion
- **Key fields**: `amount` (trade price), `collection` (NFT contract), `currency` (payment token), `taker`/`maker` (buyer/seller), `tokenId` (specific NFT), `orderHash` (unique trade identifier)

### Component B: Seaport aggregator trades with LooksRare fees
- **Purpose**: Captures NFT trades executed through Seaport protocol where LooksRare receives fees as the marketplace facilitator
- **Logic**: Processes `OrderFulfilled` events from Seaport versions 1.1-1.6, flattening offer and consideration arrays to analyze token transfers. Identifies LooksRare trades by checking if the LooksRare fee account (0x1838de7d4e4e42c8eb7b204a91e28e9fad14f536) appears as a recipient in the consideration array. Distinguishes between currencies (token types 0,1) and NFTs (token types 2,3). Handles complex order matching scenarios by cross-referencing with `OrdersMatched` events and function calls
- **Key fields**: `offerer` (seller), `recipient` (buyer), `offer` arrays (items being sold), `consideration` arrays (items being purchased plus fees), `orderHash` (unique order identifier)

### Component C: Volume amount determination
- **Purpose**: Calculates the trading volume for each transaction based on order type and matching status
- **Logic**: For direct LooksRare trades, uses the `price` field as the volume amount. For Seaport trades, applies different logic based on order matching: for unmatched orders, uses consideration amounts when buying NFTs with currency and offer amounts when selling NFTs for currency; for matched orders (batch trades), consistently uses offer amounts. Excludes fee amounts to avoid double-counting and focuses on the primary trade value
- **Key fields**: `volume_amount` (calculated trade value), `fee_amount` (excluded marketplace fees), `is_matched` (order matching status indicator)

### Final aggregation
- **Combining components**: Unions direct LooksRare trades and filtered Seaport trades into a single dataset, ensuring no duplication between the two sources since they represent different execution paths
- **Currency conversion**: Standardizes all ETH addresses to WETH (0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2) for consistent price lookup, then converts trading volumes to USD using end-of-day token prices and corrects for token decimal places
- **Time aggregation**: Groups trades by day using timestamp truncation, summing volumes across all trades within each 24-hour period
- **Final calculation**: Aggregates daily volume amounts by token and chain, applies USD conversion with decimal correction, and uses fill_zeros strategy to ensure complete time series coverage with zero values for days without trading activity

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

Total value of spot trades executed on the exchange.

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Trading volume

Trading volume

Competitive landscape