Zora Network (a dedicated Layer 2 solution for NFTS) has officially announced its Zora token airdrop, scheduled for April 23, 2025.
Released in 2020, Zora raised $60 million from investors such as Coinbase Ventures and Haun Ventures. Airdrops come amid ongoing discussions about the cooling NFT market and “content coins.”
Zora launches Zora Token on April 23rd: Important details
According to Zora's official announcement, the airdrop will take place on April 23rd. It will be a retroactive airdrop targeting users who are actively involved in the platform.
The snapshot data is divided into two phases.
- The first phase ranges from January 1, 2020 to March 3, 2025.
- The second covers April 20, 2025 until March 3rd, 2025.
Zora is planning to allocate 10% of the 10 billion total token supply (1 billion Zora) for this airdrop. The Zola team owns 18.9% of the supply, with strategic advisors and development supporters managing more than 26%.
Zora Network Tokenomics. Source: Zora
Additionally, Binance announced that he would list Zora on Binance Alpha on April 23rd. Binance has also announced 4,276 Zora Tokens aerops to eligible users.
“This is only for users who have purchased at least $50 for Alpha between March 22, 2025 (UTC) and April 20, 2025 (UTC) 23:59:59 (UTC), using a spot or funding account with Binance Exchange,” Binance said.
Currently, Zora is trading on its pre-market platform for around $0.03. This allows token trading before its official release. This price suggests that the airdrop is worth around $30 million. Zora Network's fully diluted market capitalization is around $300 million.
Zora is more than the NFT market. It also serves as a protocol that allows third parties to build and sell NFTs. One notable example is Coinbase's Layer-2 project, a recent integration with Base.
According to a recent report from Beincrypto, Base used Zora to tokenize a post entitled “Base Is for Everyone.” They turned it into an ERC-20 token. The post generated more than $30 million in trading volume within 12 hours and earned $70,000 in profits.
However, the event sparked controversy. Some users denounced the base of the “pump and dump” scheme after the token price plummeted 99% within four hours. At its peak, Uniswap's trading volume reached $13 million before collapsed.
Base denied that the token is a meme coin or pump and dump plan. Still, the incident raised concerns about the transparency of the project linked to Zola.
At the time of writing, Dune's data shows that the Zora network has processed over 87 million transactions. Currently, we collect approximately 37,000 active addresses per day.
Total transactions and active users of Zora Network. Source: Dune
However, user activity is declining rapidly. The number of active users has fallen by more than 80% over the past year.
Furthermore, a recent report from Binance shows that the NFT market has declined significantly last month. Total sales across the top 10 blockchains fell by 12.4%, suggesting that buyers are not interested.
