Loopring (LRC) prices remain under pressure, dropping roughly 20% days after announcing the launch of non-fungible token (NFT) Red Packet 2.0.
Loopring Announces Red Packet 2.0
Loopring, a layer-2 decentralized exchange using zkRollups on Ethereum allowing traders to exchange assets, said NFT Red Packet 2.0, currently available on their Loopring Smart Wallet and the web app, let users transfer ERC-20 tokens and NFTs adapted to the ERC-1155 standard.
Unlike the popular ERC-721 standard for building NFTs, the ERC-1155 version is more flexible, empowering users to create semi-fungible tokens and ordinary NFTs.
Loopring developers started building Red Packets in 2021. However, developers expanded on traditional Red Packets creation when they also announced Blind Red Packets on April 20.
Using this solution, users can only unveil the content of the “packet” after a given period.
Supporters claim Red Packets will change the economics of NFTs and drive mainstream adoption while
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