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 Active users (daily) Methodology

## 1. Overview

LooksRare daily active users (DAU) measures the number of unique users who interact with LooksRare marketplace services each day, including both native LooksRare exchange trades and trades executed through the Seaport protocol where LooksRare receives fees. This metric captures the complete user activity across LooksRare's ecosystem by combining direct platform usage with aggregated marketplace activity. The calculation uses HyperLogLog probabilistic counting to ensure accurate unique user counts across multiple data sources.

## 2. Data sources

The calculation draws from several blockchain data sources:
- **LooksRare exchange events**: Parsed Ethereum event logs from LooksRare's native exchange contracts, including `TakerAsk`, `TakerBid`, and ExchangeV2 events that capture direct marketplace transactions
- **Seaport protocol events**: Ethereum `OrderFulfilled` event logs from Seaport versions 1.1 through 1.6, which capture NFT trades executed through OpenSea's marketplace protocol
- **Seaport transaction traces**: Ethereum function call traces for `matchAdvancedOrders` and `matchOrders` functions, used to identify matched order scenarios
- **Seaport order matching events**: Parsed `OrdersMatched` event logs across Seaport versions 2-6 to identify complex multi-order transactions

## 3. Step-by-step calculation

### Component A: Native looksRare exchange users
- **Purpose**: Identifies users who trade directly on LooksRare's native exchange protocol
- **Logic**: Extracts user addresses from LooksRare exchange event logs on Ethereum. The system processes `TakerAsk`, `TakerBid`, and ExchangeV2 events, mapping specific event parameters to user roles. For `TakerAsk` and `TakerBid` events, the `maker` parameter identifies sellers while `taker` identifies buyers. For ExchangeV2 events, `bidUser` represents buyers, `askUser` represents sellers, and fee recipients array identifies additional sellers
- **Key fields**: User addresses are extracted from parameters like `maker`, `taker`, `bidUser`, `askUser`, and `feeRecipients`, with each transaction timestamped using `block_timestamp` and classified by `user_type` as either Buyer or Seller

### Component B: Seaport-based LooksRare users
- **Purpose**: Captures LooksRare users who trade through the Seaport aggregation protocol
- **Logic**: First identifies LooksRare-attributed Seaport transactions by filtering for trades where LooksRare's fee account (`0x1838de7d4e4e42c8eb7b204a91e28e9fad14f536`) appears as a fee recipient in either the main recipient field or within consideration arrays. Then processes these transactions to extract buyer and seller addresses using complex logic based on offer and consideration item types, where NFT offers paired with currency considerations indicate sellers, and currency offers paired with NFT considerations indicate buyers
- **Key fields**: Buyer addresses are extracted as `nft_buyer_address` and seller addresses as `nft_seller_address`, determined through analysis of `offer` and `consideration` arrays, item types, and recipient addresses

### Component C: User aggregation and deduplication
- **Purpose**: Combines users from both native exchange and Seaport sources while handling potential duplicates
- **Logic**: Unions all user records from native LooksRare events and Seaport trades, truncating timestamps to daily boundaries and maintaining user type classifications. Applies HyperLogLog probabilistic data structures to handle potential address duplicates across different transaction sources within the same day
- **Key fields**: Each record contains `timestamp` (truncated to day), `chain`, `user_type`, `product_id`, and `user_address` as the unique identifier for HLL processing

### Final aggregation
- **Combining components**: User records are combined through UNION ALL operations, then processed with HyperLogLog `init` functions to create probabilistic sketches for each unique combination of day, chain, user type, and product
- **Currency conversion**: Not applicable for user count metrics
- **Time aggregation**: Daily boundaries are established through timestamp truncation to day granularity, with all user activity within a 24-hour period counting toward that day's DAU
- **Final calculation**: HyperLogLog `merge_partial` and `extract` functions aggregate the probabilistic sketches to produce unique daily user counts across multiple dimensional breakdowns (total project, by chain, by user type, by product), ensuring accurate deduplication while maintaining dimensional flexibility for analysis

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

Unique revenue-generating users over a fixed 24-hour window.

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Active users (daily)

Active users (daily)

Competitive landscape