LooksRare (LOOKS) is a decentralized, community-focused NFT marketplace that operates on the Ethereum blockchain. Initiated in January 2022 by pseudonymous founders Guts and Zodd, LooksRare strives to offer an alternative to traditional NFT platforms by acknowledging user participation. The platform's utility token, LOOKS, plays several roles within the ecosystem. Users who commit their LOOKS tokens may receive compensation from trading fees as Protocol Rewards. Furthermore, every trade on the platform incurs a Trading Compensation, which serves as a LOOKS compensation for the fee paid on trades. The token can also be used to access specific drops and other token-gated applications. The platform imposes a transaction fee on all NFT sales, which is then redistributed to LOOKS committers.