What is Zora? An analysis of the decentralized social platform and the operation mechanism of ZORA tokens

Question

Source: BTCHaberOriginal Title: What is Zora coin?Original Link: ## Introduction to Zora PlatformZora is a decentralized social media platform with its cryptocurrency called ZORA coin. The project aims to transform social media profiles and content into tradable financial assets.On Zora, each user profile represents an asset called "Creator Coin." Users can support content creators by purchasing these coins within profiles. Profile owners can also convert their content into digital tokens; the more attention the content receives, the higher its token value.## Platform FoundersZora was founded in 2020 by Jacob Horne, Tyson Battistella, and Dee Goens.## Operational MechanismZora combines social media dynamics with decentralized finance (DeFi) infrastructure to create a creator-centric economic model, transforming social interactions and profiles into tradable assets on the blockchain.Creator Coins are tokens associated with user profiles, belonging to ERC-20 assets, with a fixed total supply of 1 billion. Creators do not receive all tokens at once but gradually earn 50% of the total supply over five years.Content Coins are created by transforming generated content into tradable assets. As attention to creator content on the platform increases, it becomes linked to the creator's profile, thereby increasing the value of the Creator Coins.## Detailed Explanation of ZORA CoinZORA coin is the utility token of the Zora platform, operating on the Base blockchain. It is used for rewards and paying transaction fees, including fees required when creating content coins.The total supply of ZORA coin is 10 billion tokens. 20% is allocated for community incentives, 10% for airdrops, and 5% for liquidity.### Creator Coins vs ZORA CoinMany users may feel confused about these two tokens. Understanding their differences is crucial to grasping the project's economic structure:- **Creator Coin**: An asset related to an individual user profile, each profile has its own Creator Coin- **ZORA Coin**: Represents the platform's overall cryptocurrency## How to Obtain ZORA CoinTo purchase ZORA coin, first register an account on a cryptocurrency exchange and complete identity verification. After depositing funds into your account (via bank transfer, credit card, etc.), you can buy the asset in the desired amount.**Disclaimer**: This article does not constitute investment advice or recommendations. All investment and trading activities carry risks; readers should conduct their own research before making decisions.

DefiPlaybook · Accepted Answer

Is this the creator coin model again? Honestly, this approach has been tried before. The key is whether the team can reduce the gas fees, otherwise small creators won't be able to extract much value.

AirdropF5Bro · Answer

Creator coins sound pretty new and fresh, but to be honest, they still need popularity to appreciate in value.

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It's another social + token gimmick. When will we see something truly practical?

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Turning data itself into assets? Feels like they're testing the waters by preying on beginners.

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The more popular the content, the more valuable the tokens. Top creators must be having a blast.

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When will Zora airdrop? That’s the real deal.

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Decentralized social platforms have been all talk and little action. Can this time be different?

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How risky are creator coins? Buying any of them feels like gambling.

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Jacob Horne is up to some new tricks again.

bridgeOops · Answer

It's the same old creator coin thing, feels similar to Mirror, but will it become popular?