NFT Marketplace LooksRare Switches to Optional Royalties, to Allocate 25% Protocol Fee to Creators

NFT marketplace LooksRare announced that it will no longer support creator royalties by default, and instead share 25% of the LooksRare Protocol fee with creators, which is 0.5% of the trading fee. The change aims to offer zero-royalty trading to buyers, while making sure passive income for creators. Buyers can still choose to pay optional royalties at checkout.