Project Status
1. Zora is an NFT market protocol. It has been in operation for more than a year. The overall situation is still good. It is currently starting to work on l2. It has launched its own l2 network by using OP Stack. It is now available for use. Currently, the overall user base is not yet There are more than 250,000 addresses, which is a rapid growth trend. The project side is still very powerful and can participate in interactions.
2. Zora has its own unique advantages in NFT. It has done a lot of work in NFT pictures, audio, video, etc. It is already a well-known NFT platform. In the future, its advantages in online transactions will also be demonstrated. Its own l2 Network gas is cheap and can meet large-scale transactions. Of course, this will also bring other problems. After all, there are already dozens of L2 networks on the market, and network competition is fierce.
Learn about the project
ZORO is an NFT market protocol that is committed to creating a new situation for creators, allowing them to create, exhibit, and collect NFTs. ZORA enables people to build a marketplace for their own works. ZORA believes that creating a more equal system for creators and the creative community can fundamentally rediscover the power of the Internet.
According to official news, the NFT trading market Zora announced that it will launch the Layer 2 network ZORA NETWORK based on OP Stack.
Zora co-founder Jacob Horne, former product manager at Coinbase.
Tyson Battistella is the co-founder and CTO of Zora. He previously served as a software development engineer at Coinbase and was responsible for creating Coinbase Commerce.
Technical principles
ZoraOS consists of three main components, namely Zora smart contract, Zora development kit (ZDK) and Zora subgraph (Zora Subgraph). The Zora Development Kit (ZDK) is a tool for developers to interact with the Zora protocol. The ZDK is written in Typescript and can be used in any environment that runs Javascript. Zora subgraph is a non-stop implementation of Zora data using The Graph. It synchronizes with the blockchain and searches all data related to the Zora protocol.
Zora establishes a universal and permanent market for media in the form of ERC-721. Each media is embedded with a marketplace, consisting of a transparent bid pool where bids can be inspected by anyone and where media owners can accept bids and complete transactions at any time. Whenever a purchase price is accepted, a "part" of the media is transferred to the buyer, and the funds from the purchase order are distributed among the share holders. A media can have up to three share holders: owner, previous owner and original creator.
Tokenomics
At present, the project team has not announced specific token rules, but what is certain is that issuing coins is a high-probability event. The NFT market + l2 network, and in order to encourage users to use the network, the project team has issued NFT many times, which may be airdrops in the future. One of the credentials is that there are not many people using this project at present. You can roll it up. Compared with other networks, it may be relatively small, but there are few people. There may be surprises. The team is from CB and the market is basically OK. , it depends on how you play!
Ecological construction
Currently, the projects we are cooperating with zora include games, galleries, artist communities, punk, media platforms, etc. The entire ecosystem is in its infancy. In the future, it will move towards an art platform. A large number of original artists will join. Currently, Grammy RAC Nike Jeff Staple Limited edition sneakers are sold there. Zora has previously conducted auctions that included TikTok-related NFTs and Andy Warhol Art Foundation NFTs.
Zora NFT places greater emphasis on carbon emissions and seeks to offset the cost of Ethereum emissions through specialized carbon offsets. For example, the Cerro de Hula wind farm in Honduras pays for 20 tons of CO2 emissions and 30 tons of CO2 emissions from the Agrocortex Redd project - a carbon offset effort to protect the Amazon rainforest (this Might be more appealing to environmentalists).
financing institution
On October 16, 2020, Ethereum’s fashion and music market Zora announced that it had received US$2 million in seed round investment, led by venture capital firm Kindred Ventures.
On May 5, 2022, Haun Ventures took the first step by leading a $50 million funding round for Zora, one of several NFT platforms looking to challenge industry giant OpenSea.
Coinbase Ventures, Kindred Ventures and others also joined the round, which values Zora at $600 million.
ZORA future opportunities
The founder of zora is determined to push zora to run as a super structure and realize a truly permanently running encryption protocol. Super structure: an encryption protocol that can run for free and permanently. They do not require maintenance, will not be interrupted, and do not require intermediaries.
For example, the Wyvern protocol used by Opensea cannot function properly without maintaining off-chain orders in a private database. The market will then become inaccessible.
In the future, zora will be a strong competitor of opensea in the NFT market. The competition on the NFT platform will become more intense. The new mechanism launched by blur just launched this year caught opensea off guard and had to reduce the handling fee. It once became the liquidity of the NFT market. The best platform, zora, with its star aura and brand-new technology implementation, will participate in this competition and has a great chance of winning.
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