Basics, Ethereum Layer 2 network supported by Coinbase has More than Solana (known for its meme support) Dune Analytics data shows that in daily issuance.
This change is largely driven by Zora, an emerging on-chain social network where every position becomes a financial asset. It follows Coinbase’s July Reshape the basic application Enter a consumer-facing gateway to get social financing or “social law” on the chain.
The redesigned app blends social feeds with token minting, allowing users to create tokens directly from their posts. This move helped the little-known Zora token (running on the basic network) to jump up to 440% per week during the app release. Although tokens have fallen nearly 14% in the past seven days, they have increased by more than 500% in the last month. CoinMarketCap Data.
Zora’s activity has reached an all-time high since the base app restarts: more than 1.6 million creator coins, nearly 3 million unique businessmen, totaling over $470 million, According to the dunes.
“The Creator Coin Model is simple, but powerful,” Dune said in an email.
“The supply of each coin is fixed at 1 billion, half streaming to creators within five years and half open to the market. Each transaction sends 1% of $Zora back to the content promoter, linking engagement directly to the proceeds.”
While the Creator Coin model seems to have simplified the creation of tokens to the point that it resembles traditional social media, and every post can be traded immediately, it is not without critics.
According to TK Research, the motivation for content token creation and new users of Zora are strong. However, it seems that most Zora Users are traderssuggesting potential attention to short-term speculation. However, some people may argue because of their memes Lack of use cases.
At the same time, Zora’s governance may also lack governance. Causes a rebound On social media.
Despite the debate, for the moment, the “creator economy” seems to have found a home for retail-driven activity.
“While content coins are a fashion or future debate, one thing is clear: Economy of basic members and creators is growing rapidly, and Zora is at its center,” Dune wrote in an email.
