NFT REVIEW NEWS LooksRare Integrates with Chainlink for NFT Raffle

As LooksRare continues to carve out its own particular niche during the ongoing NFT marketplace war, the platform has hit on a novel approach to engage with its customers. To this end, it has integrated with Chainlink’s provably random number generator to launch a series of high value NFT raffles.

Through the new initiative, LooksRare will launch a series of raffles where users can win incredible blue chip NFTs, as well as $LOOKS prizes. The first will see collectors scramble to win ownership of the extremely covetable, CryptoPunk #7941. Details of which will arrive via the LooksRare Twitter feed in the coming days.

LooksRare will use Chainlink’s ‘Verifiable Random Function (VRF)’ to validate the raffle and its results. Effectively, leveraging the blockchain to prevent manipulation, ensure transparency and maintain data integrity. Achieving this by using block data to cryptographically prove beyond a doubt that that the raffle is fair and unbiased.

LooksRare Remains in the Mix with Airdrop Season 1

Taking a leaf out of the Blur Marketplace school of engagement, LooksRare has also launched an airdrop initiative that will see prolific traders receive a share of its governance token. As a result, the platform will look to distribute a massive $5,000,000 $LOOKS tokens to its loyal users.

Throughout June, traders will earn ‘Gems’ as a result of their activity within the platform, the amount of which, is governed by the gravity of their NFT escapades. At the end of the Month, the marketplace will then exchange those ‘Gems’ for a share of the token pool.

So, as the likes of Blur and OpenSea go toe to toe in their bid to corner their share of the market, LooksRare aims to join the fight every step of the way.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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