Ethereum NFT Platform Zora Set to Launch ZORA Tokens on April 23
- Zora NFT platform will launch native ZORA tokens this week on April 23.
- The token launch takes place on the Base network even though Zora works on the Ethereum blockchain.
Even though Ethereum is gradually losing its spark, projects that operate on it are working tirelessly to improve their offerings. NFT platform Zora has announced that it is going to launch its native token this week on April 23. This is a remarkable step for the Ethereum-based platform to transition into an on-chain social network.
The official X account of Zora made this announcement earlier today. Two snapshots will include its token launch activity from January 2020 to April 2025. Even though the NFT platform works based on the Ethereum network, it chose Coinbases Base blockchain for its token launch.
Base blockchain proved its credibility and reliability in the last few months and witnessed an increase in on-chain activity. This not only increases token accessibility but also attracts a wider audience.
Leading crypto exchange Binance announced that its users can access ZORA tokens on Binance Alpha from Apeil 23, 2025. Eligible users will receive 4,276 ZORA tokens into their Binance Alpha account. To be eligible for this, users must have purchased at least $50 on Binance Alpha in the last 30 days.
Zora Platform Allocates 10% Supply to Token Launch
The NFT platform detailed its token distribution in its earlier announcement in March.
- 10% of the supply will reach users wallet addresses in the upcoming token launch
- Future community incentives will get 20% of the supply
- Zora treasury includes another 20% of tokens, which will be unlocked in the next four years.
- 5% of the total supply will take care of ZORAs liquidity
- Team members receive 18.9% of tokens
- Project contributors receive 26.1% of tokens
The Zora platform made it clear that its token is only for community use. Unlike other native crypto tokens, ZORA will not provide any governance rights to its holders. However, the token launch is a major milestone for the platform and growth in the coming years.
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Read more: https://thenewscrypto.com/ethereum-nft-platform-zora-set-to-launch-zora-tokens-on-april-23/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
