# OpenSea is Under Attack by Vampire!

By [Li](https://paragraph.com/@li-2) · 2022-01-11

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![](https://storage.googleapis.com/papyrus_images/90986caa632d68fca5bb311b82aa00380cf4e1f8fbbdb97f2ad1acc690e95951.jpg)

OpenSea has got a lot of criticisms lately. But this time, it’s going through a vampire attack! The term comes from DeFi. It is a method where one protocol steals another protocol’s investors by offering a better rate. So what has happened to OpenSea?

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I’ll explain what a Vampire Attack looks like first. The most infamous one was from SushiSwap, a Uniswap clone back then. When SushiSwap launched, they offered a much higher APY to Uniswap at 1000% for the initial hours. It attracted over $150m at the expense of Uniswap losing its liquidity providers. It feels like Uniswap lost a lot of its blood to SushiSwap, hence the name of Vampire Attack.

The attack can be a good thing for customers as they will get a better return on their investments. But there are a lot of risks as it is often the new protocol that offers a much better rate. The credibility of such a protocol is not proven yet. The investors can get rekt very quickly. SushiSwap’s founder, ChefNomi, took $14m and almost ran away for example.

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Let’s get back to OpenSea. It is the biggest NFT marketplace, which was valued at more than $13bn following a new investment of $300m. A lot of the new NFT marketplaces popped up and tried to join the party. **LooksRare** is the latest star.

It not only offers rewards for sellers but also, most interestingly, did an airdrop on the active OpenSea customers! Users can get between $325 to $26k worth of their $LOOKS token by using their marketplace.

All of the OpenSea customers, who traded more than 3 ETH(about $10k) during the qualifying period, could claim the airdrop of #LOOKS token. Some people who traded like 300ETH have got around 6ETH worth of airdrop for free! It is a vampire attack!

With this huge hype, LooksRare has sold over $100m in NFTs only one day after launch. This is a great growth hack. The actual value of the new protocol will show after this gold rush period. Let’s wait and see.

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*Originally published on [Li](https://paragraph.com/@li-2/opensea-is-under-attack-by-vampire)*