Ethereum NFT and tokenization protocol Zora will launch its own token—ZORA—this spring.
This platform is a great way to get started. Says it’s “been on a multiyear journey of the best way to bring creativity on-chain through tokenization,” It will release its own self-described coin at BaseThe Ethereum Layer-2 network.
“What started as an experiment six years ago has turned into something larger than we could have imagined,” In a blog posting introducing the token, the protocol is described. “Thank you to everyone who has realized the vision of Zora with us this far.”
Based on an image taken March 3, the platform will give away 10% of its total token supply, or one billion ZORA coins, to its creators and builders.
Three days prior to ZORA’s release, a second snapshot is planned. However, the exact date has not yet been determined.
An additional 20% will be set aside to support community initiatives such as hackathons and grants in the future. A 45% allocation is given to the team, strategic contributors and other stakeholders. This is subjected to a three-year vesting and six-month-cliff. Tokenomics can be found in full on the Project’s Support Page.
Zora’s popularity has grown since its launch. Driven more than 376 Million Dollars NFT, or token collecting by over 2.4 million wallets.
This platform is a great way to get started. The launch of its own Ethereum layer-2 in June 2023, as it fights high gas costs plaguing Ethereum Mainnet. The more you know. Recently announced a feature allowing any user to produce a token tradable at leading Ethereum decentralized exchange Uniswap Any post will do.
Andrew Hayward edited the book