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Gems

While a Season's running, your NFT listings can earn Gems.

At the end of the Season, you’ll cash these Gems in for your share of the LOOKS Airdrop Pot.

⏱️ How Long Does a Season Last?​

It depends. The inaugural Season One will run for one month, at which point a 5,000,000 LOOKS Airdrop Pot will be distributed to Gems holders.

💎 What’s a Gem Worth?​

That depends, too. There isn’t a fixed number of Gems available, so your LOOKS reward is calculated at the end of the Season with the following formula:

Your GemsTotal Number of Gems×Airdrop Pot Amount\frac{\text{Your Gems}}{\text{Total Number of Gems}} \times \text{Airdrop Pot Amount}

📈 How Do I Get a Gem Boost?​

The higher on the Gem Leaderboard you are, the higher your Gem Boost — a multiplier that increases the amount of Gems you earn on every item:

  • Ranks 1-10: 2.5x boost
  • Ranks 11-25: 2x boost
  • Ranks 26-50: 1.5x boost
  • Ranks 51-100: 1.2x boost

✖️ What’s the Gems Multiplier?​

How you list counts.

We get it — the more marketplaces you put your item up for sale on, the better your chances of selling your piece.

But we’re the jealous type. So, we reward lower listings on LooksRare — and penalize lower ones on other marketplaces. Suppose you’re listing BAYC #10,001 on several marketplaces:

  • If the listing is lowest on LooksRare, you’ll get a 5x multiplier
  • If it’s equal to its price on other marketplaces, you’ll get no multiplier
  • But if it’s higher on LooksRare than it is on other marketplaces, you’ll get penalized with an 0.5x multiplier

❓ Will I get a 5x Multiplier if I only list my item on LooksRare?​

Yes! Provided, of course, that the price isn't set too far above the floor and that the collection is eligible.

❓ Why list on LooksRare?​

Because the fees are much lower. We charge a flat 0.5% on transactions — but with your LOOKS rebate, your effective fees are basically zero.

✅ What Collections Are Eligible for Rewards?​

Eligible collections are clearly labeled. But, in case you were wondering, here’s the criteria we use:

  • Collections must be tradeable on LooksRare
  • Collections must be verified on LooksRare
  • Collections can't exceed 100,000 items
  • Collections can't have 'sub-collections' within the same contract
  • Collections must adhere to the ERC-721 format

⚠️ Don’t list too high!​

To reduce the opportunities for abuse, we can’t share the exact figures here. However, listings that are too high above the floor price may not earn Gems. The system rewards the provision of liquidity, so there needs to be a reasonable chance that items sell.

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