Zora Unveils $ZORA Token: A New Era for Ethereum's NFT Platform
Apr 22
2 min read
Zora, the Ethereum-based platform renowned for its creator-centric approach to non-fungible tokens (NFTs), has officially announced the launch of its long-anticipated native token, $ZORA, set to debut on April 23, 2025. This move marks a significant milestone in Zora's evolution from a niche NFT marketplace to a comprehensive on-chain social network.
Key Takeaways
Launch Date: $ZORA token will be available on April 23, 2025.
Total Supply: 10 billion tokens will be issued.
Airdrop: 10% of tokens reserved for retroactive airdrop to early users.
Community Incentives: 20% allocated for future grants and hackathons.
No Governance Rights: $ZORA will not confer governance or equity rights.
Token Distribution Strategy
Zora's token distribution will be based on two snapshots of user activity:
First Snapshot: Covers contributions from January 1, 2020, to March 3, 2025.
Second Snapshot: Includes activity up to April 20, 2025.
This strategy aims to reward long-time creators, collectors, and developers within the Zora ecosystem through a retroactive airdrop, enhancing community engagement and loyalty.
Launching on Base
In a strategic decision, Zora will launch the $ZORA token on Base, Coinbase’s layer-2 network, rather than its own layer-2 solution. This choice is designed to improve accessibility for new users, as Base has become a popular platform for on-chain social applications and memecoins.
Tokenomics Breakdown
The total supply of $ZORA is capped at 10 billion tokens, distributed as follows:
10% for retroactive airdrop.
20% for community incentives, including grants and hackathons.
5% for liquidity provision.
20% for the Zora treasury, unlocking gradually over four years after a six-month delay.
18.9% for team members, vesting monthly over three years with a similar delay.
26.1% for strategic contributors, including early investors and advisors.
Community Engagement and Future Plans
Zora has already attracted over 2.4 million collectors and more than 618,000 creators, generating upwards of $376 million in secondary trading volume. The introduction of the $ZORA token is expected to deepen user engagement and explore new forms of value distribution within the platform.
Zora emphasizes that the $ZORA token is intended for community fun and will not carry governance rights or equity claims. Users are advised to be cautious of potential scams and fake contracts, with all official details to be communicated through Zora’s verified channels.
As Zora continues to innovate and expand its offerings, the launch of the $ZORA token represents a pivotal step in its journey, transforming the platform into a fully-fledged on-chain social network that prioritizes creator empowerment and community involvement.
Sources
Ethereum NFT platform Zora to launch token on Apr. 23, Crypto News.
Ethereum's Zora Platform Announces ZORA Token Release on April 23, Yahoo Finance.
Ethereum Based Zora Network Announces Zora Token, 99Bitcoins.