LooksRare (CCC:LOOKS-USD) is the new non-fungible token (NFT) marketplace on the block; it threatens to dethrone the omnipotent OpenSea as the go-to NFT. With its ever-increasing offering of tokens, as well as staking opportunities with huge yields, the LOOKS crypto continues to rocket upward in price, even as it encounters drama. Investors are seeking out LOOKS crypto price predictions to see if it can keep up the pace.
The LooksRare NFT platform is unlike many other NFT marketplaces in that it has its own dedicated cryptocurrency. Typically, platforms like OpenSea use coins like Ethereum (CCC:ETH-USD). Others, like Axie Infinity (CCC:AXS-USD) or Decentraland (CCC:MANA-USD), are projects with a different primary focus, who have a native NFT marketplace because it supplements this other focus.
LooksRare, unlike its peers, is an NFT-first marketplace, and it has its own token in order to to offer staking to its users. Not only is the convenience nice for LooksRare users, but it also offers some of the most competitive annual percentage rates (APRs) available. Today, the platform is offering nearly a 600% yield on LOOKS staking.
LOOKS Crypto Price Predictions Surge
Launched in early January, LOOKS has fast become one of the most popular altcoins on the market. This is due in large part to the platform’s dual NFT sales and staking making it a lucrative and convenient one-stop-shop.
Earlier in the week, LooksRare came under fire after it was revealed that much of its trading volume came from wash trading; the process, one that’s illegal on the traditional stock market, sees NFT users artificially inflating prices by buying and selling the same token at once.
But investors are still keen on LooksRare, it seems. The market still offers higher yields than other platforms and a wide variety of tokens to browse. As such, it’s shaken much of the bad sentiment that had come over it earlier in the week. Yesterday alone saw users pulling in almost $30 million in wrapped ETH and LOOKS rewards.
LOOKS continues to grow. Today it’s surging another 6%, trading at about $5. Can the token keep up its impressive momentum through its first year of existence? Let’s take a look at some LOOKS crypto price predictions and see what analysts are thinking:
- PricePrediction.net expects only slight gains by the end of 2022. The site is posting a year-end target of $6.61.
- DigitalCoinPrice is of a similar belief. The site predicts a year-end value of $6.89 for LOOKS.
- WalletInvestor is quite a bit more bullish than its peers. The site expects LOOKS to reach $21.15 by February 2023.
- Gov Capital is also bullish on the token; it forecasts a price of $14 for the token in 12 months’ time.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.