Zora Announces Token Airdrop 'For Fun'

The Ethereum Layer 2 will launch its official token this spring with 10% of its supply allocated to an airdrop.

By: Squiffs • March 03, 2025

Zora, an Ethereum Layer 2 network geared towards creators, will release its official token on Base, following a snapshot on March 3, but it appears to have no use case within the ecosystem.

The protocol’s blog post states “$ZORA is for fun only and does not entitle its holders to any governance rights or a claim on any equity ownership in Zora or its products.”

The token-generation event (TGE) will see 10% of the token supply airdropped to the community, with 26% to investors, 20% to community incentives, 20% to the treasury, 19% to the team, and 5% to token liquidity.

The token will trade under the ticker ZORA, and does not have a set launch date outside of “Spring 2025”. The airdrop will be based on two snapshots - the first was taken this morning at 9 AM EST, and the second will be conducted three days before the token launch.

Zora raised $60 million across three funding rounds between 2020 and 2022 featuring VC firms such as Coinbase Ventures and Paradigm, angel investor Trevor McFedries, and artist Jeff Staple.

Zora is primarily used for minting and collecting low-cost NFTs, and in August 2024, Zora introduced onchain secondary markets, which function similarly to ERC-404s, where the NFTs minted on Zora can be swapped for ERC20 tokens that represent the original NFT and can be traded on decentralized exchanges like Uniswap.