Community Raffles 🎟️
Community Raffles allow you to spin up your own provably fair raffles, hosted on LooksRare.
Want to raffle off a sick blue-chip, or clear out a portfolio of hundreds of valuable NFTs? This is the tool for you.
🤔 How do Community Raffles work?
Just like LooksRare-hosted ones — but you make the rules.
They’ll live on LooksRare, and tap into the same Chainlink goodness that makes our own raffles 100% transparent and verifiable. You’ll get to choose which NFTs you put up, the minimum amount you want to earn from selling entries, and the types of entry tiers you make available.
📃 Are there default rules in place?
Yep! We’ll recommend the options we think are most likely to result in a successful raffle. You can go ahead with these, or tweak them as you see fit.
⛓️ Where can I see the contracts?
We gotchu. Community Raffles leverage the same Ethereum-based smart contracts as LooksRare-hosted raffles — check them out here.
🥧 What fee does LooksRare take?
We receive 5% of the raffle’s total proceeds.
🎨 How many NFTs can I list?
Currently, you can add up to 200 NFTs to a single raffle.
🪙 What types of tokens can I list?
For now, only ERC-721 NFTs are supported.
🎟️ What if my entries don’t sell?
In the case where the entries aren’t sold, users that already bought theirs will receive a refund — unless you choose to draw regardless.
🏆 What’s the difference between ‘Guaranteed Proceeds’ and ‘Max Proceeds’?
As different entry tiers have different prices (with the larger ones resulting in a discount for the buyer), your take-home can vary.
Guaranteed Proceeds works on the assumption that everyone opts for the largest tier (and, thus, the greatest discount). This is the minimum amount you could earn.
On the flipside, Max Proceeds assumes that everyone opts for the lowest tier — resulting in more proceeds being generated. This is the maximum amount you could earn.
In reality, there’ll probably be a mix of different tiers purchased, so your proceeds will likely lie somewhere in the middle of these two values.
✅ What collections are eligible?
If they’re LooksRare-verified, they’re eligible!