The Rise of ZORA: The Next Platform to Lead the Web3 Social Trend?

Recently, a Web3 social platform called ZORA has attracted widespread attention in the crypto community. What makes this platform unique is that it combines social content with a tokenization mechanism, providing creators with a new way to monetize.

The core idea of ZORA is to tokenize each user's profile and the content they publish. This means that users can earn directly from the content they create. The platform employs a carefully designed reward mechanism to ensure that all participants can benefit from it.

Specifically, the operating model of ZORA is as follows:

• User profiles and each piece of content published will be minted as tokens.
• Content tokens are bound to creator tokens
• All creator tokens are paired with ZORA tokens.

A fee of 3% will be charged for each transaction, part of which will be returned to the creators. This mechanism incentivizes the production of high-quality content while also creating value for the platform and other participants.

In addition to basic social features, ZORA has also launched a peer-to-peer advertising marketplace that supports precise micro-targeted advertising. If managed well, this could become a major profit point for the platform.

The total supply of ZORA tokens is 10 billion, of which 35% was fully unlocked in April this year, used for community incentives, airdrops, and providing liquidity. The tokens held by the team and investors will begin linear unlocking in October.

Since its launch, the ZORA token has gone through a period of stagnation, but recently it has regained upward momentum. This trend is quite similar to the popular Virtuals project from last year. Some analysts believe that ZORA is likely to replicate the success trajectory of Virtuals.

The advantages of ZORA lie in: a powerful token economic model, a simple user interface, support from the Base team, and a favorable market environment. As more users and creators join, ZORA may form a virtuous cycle, driving the token price further up.

However, some people are cautiously optimistic about whether the SocialFi concept can ignite the market again. After all, this concept has already been fully hyped in the last cycle. In contrast, the Virtuals concept that emerged at the end of last year was more in line with the market demand at that time.

Nevertheless, the potential of ZORA should not be underestimated. As an industry insider stated: "No narrative can achieve 100% consensus in the early stages." The future development of ZORA is worth looking forward to, and it may become an important platform leading the next wave of Web3 social trends.