Zora Network (ZORA)

What is Zora? 🤔

Zora is a leading on-chain social platform offering users new opportunities to create content, communicate with each other, and earn from their online activities. The app, designed with an interface somewhat similar to Instagram, enables users to create a piece of content and then allows other users to save this content in the form of NFT by minting it on the platform.  

Operating since January 2021, the protocol gained significant exposure among the crypto community with 715K addresses created on Zora Chain, according to Dune. The total number of content creators on the platform exceeds 426K users with over $9.15M in rewards paid to them.

However, the Zora NFT platform has gone even further with adopting NFT technology on its platform and shortly released its own Zora NFT marketplace, which later evolved into its own Ethereum L2 blockchain tailored specifically for the cheap mint of various NFTs. This allows users to save a significant amount of funds that would be simply spent on fees while continuing to interact with the protocol on a full scale. Since then, Zora chain has become the major choice of multiple projects for conducting NFT mints, such as PartyDAO or Kraken. 

🪙 Zora token: As of October 27th, there is no explicit mention that the Zora token release will occur any time soon, but there are a lot of cases when projects don’t signalize the release of its token until the snapshot date is taken.  We consider the implementation of Zora sparks and the project’s active partnerships with some top tier projects to mint NFTs on its network as a hint pointing at the potential retrodrop. We assume the token will have governance and potentially staking utilities within the social platform and its layer 2 network.  

Taking into consideration this info, our team conducted a detailed research on the Zora crypto project to find out its major pros and cons. Here’s what we found 👇

✅ Zora pros:

• Captivating concept and design of both products:  Zora web3 social platform and L2 network;
• Low inflation rate (10% of total supply will be unlocked for the first year);
• Confirmed Airdrop;
• Wide user base of over 715K addresses, according to Dune;
• High PR performance;
• Above the average SMM, Growth marketing, and Influencer Marketing scores;
• Small, but strong network of partners, such as Coinbase, Base chain, Kraken, and others;
• Top tier funds like Coinbase Ventures or Paradigm, invested collectively over $60M into Zora;
• Experienced core team members, with a work record in Coinbase and KPMG. 

❌ Zora cons: 

• No security audit of the network was found by our team except self-hosted bug bounty program;
• Below the average Marketing Infrastructure, SEO scores;
• No info on the potential token release;

Zora network airdrop isn’t confirmed.