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About Zora
Industries
Crypto & Web3
Entertainment
Company Size
51-200
Company Stage
Seed
Total Funding
$50.6M
Headquarters
Los Angeles, California
Founded
2020
Overview
Zora provides a platform for creating, displaying, and selling digital assets, particularly in the form of Non-Fungible Tokens (NFTs). These digital assets can include commemorative mints and live music sets, which are unique items stored on a blockchain. The platform caters to artists, musicians, and other creators who want to monetize their digital work, as well as collectors interested in owning unique digital items. Zora's business model involves charging fees or commissions on transactions, allowing creators to earn from their work while offering a marketplace for buyers. The goal of Zora is to facilitate the monetization of digital art and music, contributing to the growing interest in NFTs.
Simplify's Take
What believers are saying
- Zora's Layer 2 solution reduces costs and increases transaction speed.
- Growing interest in music NFTs presents new opportunities for Zora.
- Collaborations with social media platforms could boost user engagement.
What critics are saying
- User interface issues may lead to unintended token creation.
- Reputational risk from incidents like the ZachXBT controversy.
- Increased competition from platforms like OpenSea.
What makes Zora unique
- Zora offers a unique platform for minting and trading NFTs.
- Integration with Coinbase Wallet enhances Zora's accessibility and user base.
- Partnership with COLORSxSTUDIOS expands Zora's reach in the music NFT space.
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Funding
Total Funding
$50.6M
Above
Industry Average
Funded Over
2 Rounds
Benefits
Top quality medical, dental, and vision insurance
Flexible time-off policy
New MacBook Pro for full-time employees
Equity
Growth & Insights and Company News
6 month growth
↓ -2%1 year growth
↓ -1%2 year growth
↓ -4%El investigador de blockchain ZachXBT es objeto de controversia después de que un proyecto NFT lanzado para documentar una investigación de alto perfil se transformara involuntariamente en un memecoin de 15 millones de dólares en la red Base.La situación se desplegó después de que una acuñación de NFT a través del protocolo Zora emitiera automáticamente un token ERC-20 negociable. Según ZachXBT, esto fue no intencionado y no deseado.La controversia de las memecoins de ZachXBTLa controversia comenzó cuando ZachXBT utilizó el protocolo Zora para crear NFT de edición abierta de los hallazgos de su investigación. La investigación involucraba un robo de 243 millones de dólares a un acreedor de Genesis.Su objetivo era proporcionar un coleccionable digital gratuito para archivar permanentemente su trabajo en la blockchain. Sin embargo, desconocía que la interfaz de usuario (UI) de Zora generaría automáticamente un token ERC-20 al completar la acuñación. Esto efectivamente convirtió sus NFT en activos líquidos disponibles para el trading en exchanges descentralizados (DEX) como Uniswap. “La UI de Zora actualmente no da ninguna indicación a los creadores de que un token ERC-20 también será lanzado después de una acuñación de NFT de edición abierta,” compartió el investigador de blockchain
Blockchain sleuth ZachXBT is the subject of controversy after an NFT project launched to document a high-profile investigation inadvertently transformed into a $15 million meme coin on the Base network.The situation unfolded after an NFT mint through the Zora protocol automatically issued a tradable ERC-20 token. According to ZachXBT, this was unintended and unwelcome.ZachXBT’s Meme Coin ControversyThe controversy began when ZachXBT used the Zora protocol to create open-edition NFTs of his investigation findings. The investigation involved a $243 million theft from a Genesis creditor. His goal was to provide a free digital collectible to permanently archive his work on the blockchain. However, he was unaware that Zora’s user interface (UI) would automatically generate an ERC-20 token upon mint completion. This effectively converted his NFTs into liquid assets available for trading on decentralized exchanges (DEXs) like Uniswap
Asset management giant Bitwise recently launched a groundbreaking advertisement campaign for Ethereum (ETH). The 39-second advertisement emphasizes Ethereum’s unique capabilities compared to traditional finance. The ad, featuring Michael Tacconi as Ethereum and Jamie Kaler as Big Finance, humorously showcases Ethereum’s 24/7 accessibility. Bitwise Campaign Mints TV Ad as NFT to Support DevelopersThe ad begins with Tacconi introducing himself as Ethereum, while Kaler, representing Big Finance, appears exhausted from his workday. Ethereum highlights its continuous availability, starkly contrasting Big Finance’s limited schedule
Zora Network, a prominent Layer 2 solution built on Ethereum, has officially integrated with Coinbase Wallet.
Zora has also partnered with COLORSxSTUDIOS, an aesthetic music platform featuring emerging talents on YouTube with almost 7 million subscribers to launch a digital collectable platform: COLORS COLLECT, where fans can buy a copy of the show as an NFT.
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About Zora
Industries
Crypto & Web3
Entertainment
Company Size
51-200
Company Stage
Seed
Total Funding
$50.6M
Headquarters
Los Angeles, California
Founded
2020
Zora is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today