The expected launch of Base issue coin is approaching. What does the live streaming feature on Zora signify?

Original text: Umbrella, TechFlow

Reprint: White55, Mars Finance

On September 15, 2025, Base founder Jesse Pollak announced that the team is exploring a native token for Base, sparking widespread attention and discussion in the crypto market.

As the flagship L2 under Coinbase, the largest cryptocurrency exchange in the United States, Base has a TVL of approximately $7.2 billion. With numerous SocialFi products within its ecosystem, it boasts nearly 700,000 daily active addresses on-chain, ranking first among all L2s.

This series of data also shows that the market generally has high expectations for Base's token issuance. Moreover, the previous renaming of Coinbase Wallet to Base App and the major updates to the product that introduced social and payment features seem to indicate that the native token of Base is about to arrive.

Related Reading: “From Coinbase Wallet to Base App: Understanding the Opportunities and Transformations of Web3 Super Apps in One Article”

The current market believes that Base is likely to complete its TGE in Q4 of this year, and it may distribute airdrop shares based on the interaction records of leading projects within the Base ecosystem.

Such speculation has made the leading applications within the Base ecosystem scarce assets, with a considerable number of users turning their attention to Zora.

As a leading application within the Base ecosystem, Zora has performed exceptionally well in the past half month and announced on October 14 that it will soon launch a live streaming feature on the platform, seemingly preparing for the upcoming “big” events.

The “content is token” narrative of traditional crypto creator economy platforms has gradually lost its novelty for Meme players. In comparison, text images and live broadcasts can provide audiences with richer content and Fomo emotions on various levels. It is foreseeable that a large number of “talented” creators will launch more narratively appealing Memes through Zora's live streaming feature.

Zora: From NFT Platform to Creator Economy Infrastructure

Zora was founded in 2020 and received support from Coinbase's venture capital fund during its early launch phase, raising a total of $60 million through three rounds of financing.

When Zora launched, the NFT narrative was in full swing. As the NFT platform of the Base ecosystem, Zora occupied over 50% of the NFT market share on Base. Until this year, Zora has transformed from an NFT platform into a popular content platform within the current Base ecosystem, which has also established its inherent advantages in the distribution of Base tokens.

In April 2025, the $Zora token was issued, with a total supply of 10 billion tokens, of which 50% was allocated to the community. At that time, the market was busy chasing various Memes on Solana, with not much attention given to Zora.

The turning point occurred in July when Zora made an important update, achieving the capability for large-scale issuance of creator tokens and meme coins on the platform through Base integration, officially transitioning from an NFT trading platform to a popular Meme launch platform, quickly becoming the hottest application within the Base ecosystem.

Compared to established products like Pump.Fun, the latecomer Zora has absorbed a lot of “senior” experience and implemented numerous innovative mechanisms.

In terms of token types, Zora not only has tokens corresponding to content but also adds a “creator coin” corresponding to each creator, with each user profile corresponding to one coin, allowing creators to receive additional rewards recognized by the market for providing high-quality content on this content platform.

The more core innovation lies in the design of Zora's revenue distribution model. The token trading fee on the Zora platform has decreased from an initial 3% to 1%, with 50% paid directly to creators, 20% permanently locked as token liquidity, permanently increasing the depth of the trading pool, 20% rewarded to developers/platforms who refer creators to deploy tokens, 4% as a reward for specific trading addresses, and 5% entering the platform treasury.

And this allocation mechanism is also closely related to its platform token $Zora, all rewards will be converted into $Zora tokens for payment, and all income entering the platform treasury will support the price through market buybacks.

Overall, Zora provides users with a user-friendly and almost barrier-free token issuance tool, allowing any content creator to deploy tokens with one click, and creators can earn continuous revenue from secondary market transactions instead of one-time profit from sales.

According to the data, Zora generated over $460 million in trading volume in July, a figure nearly 10 times its total historical NFT trading volume. It issued over 1.6 million creator tokens, surpassing competitors like Pump.fun during the same period, becoming one of the most active meme issuance platforms in the Base ecosystem.

The most intuitive reflection of this transformation is seen in the price of $Zora. According to data from Coingecko, this transformation has led to a rapid increase in the price of $Zora from $0.012 to around $0.09 in just ten days, achieving an increase of nearly 800%.

Recent Performance and Analysis

In the past month, Zora has demonstrated strong competitiveness in both price resilience and product iteration.

After the bullish trend in July and August, with the narrative of the creator economy gradually cooling down in September and the cryptocurrency market experiencing a widespread decline, the price of $Zora also fell back to around $0.05.

On October 10th, Zora announced its launch on Robinhood, becoming the first Base ecosystem token to go live on Robinhood. On the launch day, the price of $Zora surged approximately 70% from $0.05 to $0.085, and the 24-hour trading volume skyrocketed by about 780% to $569 million, bringing significant liquidity improvement to $Zora. On the other hand, the launch on Robinhood also signifies mainstream market recognition of Zora's value and attention to the development of the Base ecosystem.

On the other hand, the holding structure of $Zora also changed significantly during the period from September to October. According to on-chain data, a large number of whales have entered the market to build positions or increase their holdings of $Zora in the past 30 days, especially during the overall market decline in September, when large investors continued to buy against the trend. This change in holding structure seems to also indicate that Zora's long-term value is being recognized at an institutional level.

Immediately following the login to Robinhood was the black swan event on October 11 when Trump announced an increase in tariffs on China. The performance of $Zora during this largest black swan event in the history of the cryptocurrency market further drew the market's attention.

According to the data, on October 11th, the price of $Zora briefly dropped from a peak of $0.12 to $0.05, but unlike most assets that showed insufficient rebound strength, $Zora took only one day to return to around $0.1, with a daily increase of nearly 50%, making it one of the few assets to complete the “post-disaster reconstruction” early.

In this black swan event, the strong resilience shown by $Zora has led many investors in the market to start adding it to their watchlists. On October 15, the price of $Zora demonstrated strong resilience again, rising from around $0.08 back to about $0.1.

From an ecological perspective, Zora currently almost monopolizes the creator economy track of Base, with over 90% of the meme coins in the Base ecosystem coming from Zora. Such impressive data also provides strong support for market speculation regarding the share weight of Zora in the Base token allocation.

Similarly, in October, Zora announced a reduction of the trading fee from 3% to 1%, with 50% of the revenue being directly returned to creators. Although this discounting behavior may impact protocol revenue in the short term, it is beneficial for attracting more users and subsequent expansion in the long term. Moreover, the pattern it demonstrates has also brought better “public appeal” to Zora.

Recently, the Zora platform has also shown a clear strategic acceleration. On October 14th, Zora announced via its official Twitter that it will soon launch a live streaming feature, which inevitably brings to mind the live streaming function launched by Pump.Fun, another meme launch platform, that led to a significant number of viral events and meme coins in a short period of time.

Although Zora has not yet updated the detailed introduction of this live streaming feature, we can predict the impact that the launch of live streaming may have on $Zora based on the current content token mechanism of the Zora platform.

For example, users consume $Zora to make instant rewards for streamers, and streamers consume $Zora to mint NFTs for their fan base as identity markers for their fans. On the other hand, it may also develop into users unlocking high-quality paid live streaming rooms and live streaming privileges by consuming $Zora.

All of the above possibilities will provide clear upward momentum for $Zora, demonstrating a model that is more aligned with long-term development and the price of the $Zora token, distinguishing it from Pump.Fun.

Potential Risks

Although Zora has many positive information and factors, the risks behind its growth cannot be ignored.

The main issue is that most creator tokens on the Zora platform lack liquidity. Currently, CoinGecko only tracks 9 tokens with meaningful market capitalizations, with a total market cap of only $18 million. Compared to the tens of millions in market cap for meme tokens launched on popular platforms like BSC and SOL, Zora still has significant room for growth.

Recent market volatility, if it leads to a cooling of market sentiment, is very likely to trigger widespread liquidity exhaustion.

The more direct investment risk lies in the token unlock, where 160 million Zora tokens will be unlocked on October 30, accounting for 4.55% of the total supply, which may create significant selling pressure in the short term.

On the other hand, the upcoming live streaming feature may also be a double-edged sword. Pump.Fun is the best example; although the live streaming feature attracted a large number of meme players at that time with popular tokens like $BUN and $BackWork, it later led to more market controversies due to the inability to manage live content effectively, and the trend of popular tokens collectively going to zero also caused significant losses for many investors.

However, unlike the “wild” development path of Pump.fun and its inexperienced young team, Zora is backed by the more mature and “steady” Base ecosystem, and its demonstrated operational capabilities have somewhat dispelled similar concerns. Currently, the Zora platform has over 2.9 million users, providing ample dissemination resources for the live streaming feature. Perhaps this time, Zora can bring us a new answer that combines cryptocurrency and live streaming.

Seize the window of expectation for Base token issuance.

Zora has provided a clear path for participating in the Base token airdrop, and its core position in the Base ecosystem, strong growth data, and demonstrated price resilience all indicate that this is a target worth paying attention to.

The current $850 million FDV has a reasonable room for growth in relation to Zora's ecological status and growth potential. Especially under the expected catalyst of the Base token, its value as a leading application in the ecosystem may be further amplified.

However, the high uncertainty in the market in the short term and the upcoming large unlock have also brought resistance to $Zora. Investors can pay attention to recent market changes and the price performance after the unlock to decide whether to add $Zora to their investment list.

The anticipation for the Base token is gradually approaching. In the context of intensified competition in L2, the launch of a native token by Base is almost an inevitable choice, and Zora's position in this regard is a project that cannot be overlooked for those wanting to gain from the Base airdrop.

The opportunity is right in front of you; the key is whether you can accurately grasp the timing and rhythm.