Zora is a vibe. It is Also an increasingly dominant force in the NFT ecosystem, with its pillars now including the most influential NFT protocolTHE leading NFT creation platformand the leading art-centric Ethereum Layer 2 (L2).
Usability is an important factor here:
- 🎨 Creatives can now sign up and create on Zora without wallet And without cryptowhich means anyone can participate.
- 💎 On the other hand, fans can collect all NFTs issued on Zora with ETH Since any of them Zora channel supports without waiting for the bypass.
- 📉 Additionally, since the introduction of blobspace via EIP-4844, average transaction fees on the Zora network have increased dropped to $0.001or a tenth of a cent, making L2 very affordable for the NFT business.
Likewise, friendliness with artists is another important factor in Zora's growing strength:
- 🧑🎨️ Zora Create is one of the simplest DIY Mint interfaces on the market.
- ⛓️ Artists can create and customize NFT drops on contracts they control on any of the supported chains, currently Ethereum, OP Mainnet, Base, Arbitrum, Blast and Zora Network.
- 🔀 Additionally, splits allow groups of creators to automatically distribute mint revenue among themselves.
- 🪙 The keystone, however, is Zora Protocol Rewards, which allows artists to earn 0.000777 ETH protocol fees from Zora every time someone collects from their “free mints”, i.e. drops without a list price. The creators of Zora won +$4 million in rewards in March 2024 alone in this way.
These utilities have attracted a large and passionate user base of creatives, many of whom are increasingly turning to the Zora L2. So far people have deployed over 426,000 NFT contracts and participated in over 10.6 million monetary transactions on Zora Network, launched only in June 2023.
However, another huge appeal for Zora is the way he presents himself. permanently deployment of new features. In recent months, the team has added Arbitrum and Blast, deployed Uniswap on the Zora networkand unveiled a host of new features like pay by credit cardsupport HTML deletions, ERC-20 StrikeAnd Clotha multimedia remixing tool to put anything together.
But it's not just Zora team building around Zora!
For example, Infra-Sage Alchemy has just brought Account abstraction support to Zora Network, and Conduit has just deployed the possibility of deploy L3 (like an L2 on top of an L2) on the Zora network. On the application side, platforms like Warp Casting, InterfaceAnd Surrealist become new entry points for collecting and commenting on Zora mints, particularly with the rise of scenecoins.
Overall, the main argument for Zora going forward is if it continues to do exactly what it's doing currently, which is continue to be at the forefront of NFT UX, continue to elevate onchain artists, continue to add new features and continue to benefit from new features. infrastructure and applications, particularly crypto-social.
Another topic to watch closely is whether Zora can continue to become a hub for AI creativity. They added support for AI layers in Canvasand the team has put a lot of thought into AI x onchain, as evidenced by recent articles like AI+ And Intellectual property. There's a lot more to come here, in my opinion.
Of course, there will also be challenges to overcome. For example, the Zora network is an adolescent L2, and the work to mature and decentralize it will continue for some time. But these challenges will also bring opportunities, and if anyone can meet them, it's Zora.