NFT and Asset Tokenization Protocol Zora Will Launch Its Own Token, ZORA, on the Base Layer-2 Network

Zora, an NFT and asset tokenization protocol on Ethereum, will launch its own token, ZORA, on the Base layer-2 network. As part of this initiative, it will distribute 10% of the total supply in an airdrop aimed at creators, collectors, and developers.

Zora, a protocol for NFTs and asset tokenization on Ethereum, is launching its own token, ZORA, on the Base layer-2 network. To celebrate this milestone, the team will airdrop 10% of the total token supply to creators, collectors, and developers. The allocation will be based on a snapshot taken on March 3. A second record will be made before the official launch.

How Will the ZORA Token Be Distributed?

In addition to the airdrop, 20% of the supply will be set aside for community incentives, including hackathons and future grants. The team and strategic contributors will receive 45%, subject to a three-year vesting period and a six-month cliff. A full breakdown of the distribution is available on the project’s official page.

Zora began as an experiment but has since become a well-established and successful platform within the crypto industry. To date, it has recorded over $376 million in secondary trading volume, and more than 2.4 million wallets have participated in buying and selling NFTs and tokens within its ecosystem.

The High Costs of Ethereum

In 2023, Zora launched its own layer-2 network to mitigate Ethereum’s high gas costs. This infrastructure has made it easier to create and trade digital assets without the economic limitations of the mainnet. The platform has also integrated a feature that allows any user to generate tokens tradable on Uniswap from any post.

The team has not yet disclosed the exact launch date of the token or the second snapshot. However, the community anticipates that the arrival of ZORA will strengthen the platform’s adoption and expand its use cases within the Ethereum ecosystem.