March 2022 (Revised August 2022)
Case
HBS Case Collection

LooksRare: The Decentralized, Tokenized, NFT Marketplace

By: Scott Duke Kominers, Shai Bernstein and George Gonzalez

Format:Print
| Language:English
| Pages:21

Abstract

LooksRare launched a decentralized and anonymous organization to compete against NFT marketplace leader OpenSea. By launching its own cryptocurrency, LooksRare attempted to lure users with a digital rewards program. The nature of the organization and its business model, however, brought challenges that are unique to the blockchain industry.

Keywords

NFTs; Alternative Assets; Blockchain; Cryptocurrency; Customer Relationship Management; Market Entry and Exit; Business Model; Marketing

Citation

Kominers, Scott Duke, Shai Bernstein, and George Gonzalez. "LooksRare: The Decentralized, Tokenized, NFT Marketplace." Harvard Business School Case 822-119, March 2022. (Revised August 2022.)