- Zora to launch its ZORA token on Base this spring, with 10% (1 billion tokens) reserved for community airdrop.
- Tokenomics includes 20% for community incentives and 45% allocated to team and strategic contributors with vesting periods.
- Platform has facilitated $376 million in trading volume and reached 2.4 million wallet users since launch.
Zora, the Ethereum-based NFT and tokenization protocol, announced plans to release its own cryptocurrency token this spring. The ZORA token will launch on Base, an Ethereum layer-2 scaling network, with 10% of the total supply earmarked for a community airdrop based on snapshots taken in March and before the official launch.
The protocol described the upcoming token as a "meme coin" in its official announcement, marking a significant milestone for the platform that has been developing blockchain-based creative solutions for over six years.
"What started as an experiment six years ago has turned into something larger than we could have imagined," the protocol stated in its introductory blog post. "Thank you to everyone who has realized the vision of Zora with us this far."
The airdrop will distribute 1 billion ZORA tokens to eligible community members, including creators, collectors, and developers, based on a primary snapshot taken March 3. A second snapshot will occur three days before the token launch, though the exact launch date remains unannounced.
According to the tokenomics breakdown available on the project’s support page, an additional 20% of tokens will fund community initiatives such as hackathons and future grants. Team members and strategic contributors will receive 45% of the supply, subject to a six-month cliff period followed by three years of vesting.
Since its inception, Zora has established itself as a significant player in the NFT space, generating over $376 million in secondary trading volume and connecting with more than 2.4 million unique crypto wallets.
The platform expanded its infrastructure in June 2023 by launching its own Ethereum layer-2 network to address the high transaction fees on Ethereum’s mainnet. More recently, Zora introduced functionality enabling users to generate tokens tradable on Uniswap, a leading Ethereum decentralized exchange, from any post on the platform.
This token launch represents Zora’s latest effort to advance its stated mission of "bringing creativity on-chain through tokenization," potentially offering new utility and governance capabilities to its growing ecosystem.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- CoreWeave Files for IPO, Seeks $4 Billion with $35 Billion Valuation
- Popular Streamer Amouranth Targeted in Home Invasion by Crypto-Seeking Gunmen
- Ripple Co-Founder Chris Larsen Moves $140 Million in XRP to Exchange Following Trump’s Crypto Announcement
- Trump Proposes Crypto Strategic Reserve, Names BTC, ETH, SOL, ADA, XRP as Candidates
- Copper Hires Former Binance.US Executive Tammy Weinrib as Chief Compliance Officer for Americas
