The daily sales volume of the non-perishable token platform, Lux Rare, has exceeded $394 million, after the platform's official launch on January 10.
Lux Rare has managed to bring in this customer base by offering just 2% fees on base sales and zero fees on private sales, compared to rival OpenSea's fees of 2.5% on each transaction.
According to Coin Telegraph, the project is also allowing traders to earn rewards in the form of the original LOOKS token for buying and selling non-destructible tokens.
The main indestructible token that quickly took over Lox Rare was the MitBits group, which comes from Larvallabs - the same creators behind Cryptobanks and Autoglyphs.
Mitbits is currently the best suite on the market at the time of writing, according to data from Dub Radar. It is worth noting that Dab Radar has included a disclaimer to highlight the possible manipulation of the ongoing trading with Metbits on Lux Rare.
While other traders had similar suspicions about trading manipulation. A number of repeated false transactions were recorded by journalist Colin Wu. According to Wu’s report: Metbits has a trading volume of 52,771 ETH. And whales constantly repeat transactions to obtain tokens.
Another point of doubt arose on Wednesday when the indestructible token of Metbits was sold for $49.5 million in Ethereum. Traders allege that this transaction was fraudulent, noting that the combination of LOOKS Rare's zero percent equity and implementation of LOOKS bonuses motivates trading manipulation.