Coinbase's "SocialFi" sparks Zora fever, with Basechain's daily token issuance surpassing Solana's
PANews reported on August 4th that, according to CoinDesk, Dune Analytics data indicates that Base, the Ethereum Layer 2 network supported by Coinbase, has surpassed Solana in daily token issuance. This growth is primarily driven by the decentralized social platform Zora, whose "Creator Coin" model transforms content into tradable assets. Following the July transformation of Coinbase's Base app into a SocialFi portal, the ZORA token has seen a surge of over 500% in value over the past month.
Data shows that after the relaunch of the Base App, Zora platform activity reached a record high: over 1.6 million creator tokens were minted, attracting nearly 3 million independent traders, and total trading volume reached $470 million. However, its critics point out that most current users are traders with a tendency towards short-term speculation, and Zora's governance has also sparked strong opposition on social media. However, the creator economy on the Base chain is expanding rapidly.
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