In the early hours of March 4 2025, Zora Network, a layer-2 platform specializing in NFTs, officially introduced the ZORA token. What makes ZORA unique is that it is not a governance token like many other projects, instead, it is positioned as a memecoin with a strong community focus and an emphasis on entertainment. The token is expected to launch on the Base layer-2 network in the spring of 2025.
ZORA Token Allocation & Airdrop Distribution
Zora Network has also revealed its plan to airdrop 10% of the total token supply to the community, including creators, collectors, developers, and users who have interacted with the Zora ecosystem. Two snapshots will be taken to determine the airdrop recipients, with the second snapshot occurring three days before the official token launch.
The total supply of ZORA tokens is 10 billion, allocated as follows:
- 10% – Community airdrop
- 20% – Community incentive fund
- 26.1% – Strategic advisors (6-month lock-up, 3-year vesting)
- 18.9% – Zora team (6-month lock-up, 3-year vesting)
- 20% – Project treasury (6-month lock-up, 4-year vesting)
- 5% – Liquidity maintenance
Zora will distribute 1 billion ZORA (10% of the total supply) through the airdrop program. The two snapshot approach not only rewards loyal users but also provides opportunities for new participants to engage with the Zora Network ecosystem.
A Thriving NFT Ecosystem
Zora Network is recognized as a decentralized NFT protocol that empowers artists and creators to transform their artwork, music, videos, podcasts, and more into NFTs for direct trading with users. More than just an NFT marketplace, Zora offers specialized tools to optimize royalties, ensuring fair value distribution for each NFT collection.
Unlike other layer-2 solutions that focus on DeFi, Zora Network is dedicated to NFTs, fostering a Web3 space where artists and creators can freely create, own, and share their work without limitations.
Since its launch in 2023, Zora Network has achieved impressive milestones, with over 83.7 million transactions conducted on the platform. Additionally, the ecosystem has attracted 548,180 active wallet addresses and recorded more than 6,420 ETH bridged into the network, demonstrating its strong growth and increasing interest from the community.
Turning Every Post Into an ERC-20 Token
Beyond NFTs, Zora Network is expanding into the token issuance sector. The platform now allows any post to be minted as an ERC-20 token and traded instantly on Uniswap. This strategic move enhances liquidity and optimizes the trading experience for users. With this flexibility, Zora is not just an NFT platform but an innovative ecosystem where users can seamlessly transform their content into valuable digital assets.
Instead of using the NFT 1155 standard as before, every post on Zora can now be minted directly as an ERC-20 token and listed on Uniswap without complex steps. This reduces technical barriers while providing creators with faster market access. The combination of simplicity and instant tradability on Uniswap is expected to attract more users to the Zora Network ecosystem.
The Rise of NFT Projects Launching Their Own Tokens
Alongside Zora Network, several other prominent NFT projects are also launching their own tokens, highlighting the growing trend of integrating tokenomics into the NFT ecosystem. Some notable names include:
- Pudgy Penguin (PENGU): One of the most well-known NFT projects with a strong community, PENGU promises to offer various benefits to its holders.
- Milady (CULT): Recognized for its unique style and highly engaged community, the CULT token could play a significant role in the Milady ecosystem.
- Magic Eden (ME): As one of the leading NFT marketplaces, the launch of the ME token may enhance the trading experience and provide additional incentives for users.
- Doodles (DOOD): The Doodles project has announced plans to release the DOOD token, creating new opportunities for the creative community.
- OpenSea (SEA): As the world’s largest NFT marketplace, OpenSea is also embracing the trend by announcing its upcoming SEA token, which could introduce various utilities and benefits for users.
The increasing number of NFT platforms launching their own tokens signals strong growth potential for this sector within Web3. As a memecoin, ZORA could set a new trend in the NFT space, creating fresh opportunities for creators and collectors. Stay updated with MevX for the latest insights on the crypto and NFT markets, as well as upcoming airdrop opportunities!
