December 9, 2023

Non-fungible token (NFT) marketplace Luxere has launched version two, also known as v2, which reduces protocol fees by 75%. According to data from Dune Analytics, Luxrare was the tenth largest NFT marketplace in terms of number of traders during the past week.

NFT market protocol LuxRay launches v2

nft market looks rare Announced the launch of version two (v2) on April 6, 2023. One of the significant changes is the 75% reduction in Luxray fees with v2. “Luxrare’s protocol fee is now fixed at 0.5%, down from 2%,” the team said in a note. blog post, “Given the current market meta, we are removing the manufacturer discount for the time being.”

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According to statistics From Dune Analytics, Blur and OpenSea Trader dominated the market this week in terms of volume traded and market share. According to Dune Analytics & Metrics, LuxRare is the 10th largest NFT marketplace this week in terms of traders and volume. Dappradar,

LuxRay claims that users can “save ~50% on gas charges compared to other marketplaces like Blur and ~30% on gas charges compared to LuxRay version one.” In addition, LuxRay v2 will use Ethereum (ETH) instead of Wrapped Ethereum (WETH). With LuxRear v2, users can make bulk purchases by adding “70+ NFTs to your cart”.

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Also looks rare announced That version one (v1) will be deprecated and provides a timeline for the process. “Starting at 7PM (UTC) on April 12th you will no longer be able to post V1 orders via the public API,” Luxrare said. Looksrare v1 will be completely shut down by April 13th and all operations will be migrated to v2. LuxRare also shared new public API endpoints for v2 in the same blog post.

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What do you think about Luxray’s decision to deprecate version one and migrate all operations to version two? Share your thoughts in the comments section below.

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