Recently, I tried using Zora. At first, I was excited by the novelty of a platform that supports creators and turns every post into a coin. However, after actually using it, I found that it was quite different from what I expected, and now I am considering taking a step back. This is simply my own experience and impression.
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From NFTs to Coins – The Era of Tokenizing Everything
Originally, Zora was a platform for NFTs. It was a place where you could mint and sell art or photos as NFTs and collect them. However, Zora recently shifted direction, and now every post is automatically turned into a coin using the ERC-20z standard. Each post generates one billion tokens, and a large portion is distributed to the creator.
The idea is interesting, but in reality, I felt that the atmosphere was more speculative and a bit unsettling.
Easy to Sell = Easy to Crash
With this new system, coins can be traded on Uniswap as soon as a post is made. Since liquidity is automatically provided, there is no situation where something “can’t be sold” like with NFTs. However, I felt that this also makes sudden crashes more likely.
- Creators and early buyers hold large amounts of coins, and if they all start selling at once, the price drops instantly.
- In fact, I saw several cases where coins for viral posts skyrocketed in value, only to crash by over 90% within minutes as insiders sold off. The “Base is for everyone” incident is a perfect example.
Is Speculation the Only Thing Growing?
With Zora’s current system, it feels like speculation and the pursuit of quick profits are more prominent than creative value. Post coins tend to become meme coins, and short-term profit-seeking stands out more than art or community.
- For creators, it seems more beneficial to sell as many coins as possible, as quickly as possible, rather than build long-term value.
- For collectors, there is always the risk that after the hype dies down, only worthless coins are left.
Concerns About Transparency and User Protection
The recent $ZORA token launch also left me confused. There was little information beforehand, and it was unclear who would receive how much. Right after the launch, the price was extremely volatile, the network was congested, and it seemed like everyone was confused.
- Token distribution also seemed to favor the team and insiders over users, and I didn’t feel a strong sense of fairness.
- Even though they say “this is for entertainment,” there is no real utility or governance, and it just feels like another speculative item.
Why I’m Stepping Away from Zora for Now
In the end, I felt that Zora has become too focused on coins and speculation, and it doesn’t really suit ordinary users or creators like me. The risks of rug pulls, unfair distribution, and lack of community atmosphere… For me, the risks outweigh the rewards.
- I prefer a platform that values creativity and community more.
- I feel more comfortable where transparency and user protection are solid.
For these reasons, I’ve decided to take a step back from Zora for now and look for other places that suit me better.
This is simply my own experience and thoughts. I am not recommending that others quit Zora, and I think what suits each person will differ. I hope everyone can make the choice that’s right for themselves.
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