Zora to Launch ZORA Token on April 23 Following Viral Promotions
The onchain social media platform Zora is set to launch its ZORA token on April 23, following increased attention from the Base network team. Key details include:
- Two snapshots for token distribution: one from January 1, 2020, to March 3, 2025, and another from March 3 to April 20, 2025.
- Coinbase-backed Zora gained traction after Jesse Pollack promoted the creation of "content coins."
- Over 230,000 new users interacted with the platform on a single Sunday.
- A specific token, "Base is for everyone," saw its market cap rise from thousands to over $17 million within hours.
- Three wallets profited $666,000 by purchasing tokens before the announcement.
- Coinbase clarified that this token is not the official cryptocurrency of Base and was not sold directly by them.
- Allegations of insider trading and poor communication have surfaced, with some users expressing skepticism about the promotional activities.
Pollack denied that the promotions were part of a marketing campaign.