Coinbase-Backed Zora Network Announces Token Launch and Airdrop Details

TLDR

• Zora Network will launch its token on April 23, 2025, with 10% of total supply (1 billion ZORA) being airdropped to eligible users
• Snapshots were taken in two phases: January 2020-March 2025 and March-April 2025
• Binance has confirmed it will list ZORA, with speculation that Coinbase will follow
• Pre-market estimates place ZORA’s launch price between $0.02-$0.03
• The airdrop follows controversial “content coin” promotions by Base network that raised concerns about insider trading

Zora Network, a layer-2 solution focused on NFTs and onchain social media, is set to launch one of 2025’s largest crypto airdrops on April 23. The platform, which has raised $60 million from investors including Coinbase Ventures and Haun Ventures, will distribute 1 billion ZORA tokens, representing 10% of the total supply.

The airdrop targets early platform users across two snapshot periods. The first snapshot covered activity from January 1, 2020, to March 3, 2025. The second snapshot period ran from March 3, 2025, to April 20, 2025.

According to Zora’s tokenomics details, beyond the 10% airdrop allocation, 20% of tokens will go to community incentives. Another 20% is reserved for the treasury. Team members will receive 18.9% of the supply. Strategic contributors will control 26.1%. The remaining 5% is set aside for liquidity.

$ZORA will be live on April 23, 2025. pic.twitter.com/yZdjlnDohH

— zora (@zora) April 20, 2025

Exchange Listings and Price Expectations

Binance has already announced it will list ZORA on its Binance Alpha platform on April 23. The exchange also plans its own ZORA airdrop, offering 4,276 tokens to users who purchased at least $50 on Alpha between March 22 and April 20, 2025.

While no official launch price has been announced, experts anticipate ZORA to debut between $0.02 and $0.03. At this price point, the airdrop would be worth approximately $30 million. The fully diluted market cap would sit around $300 million.

Many observers expect Coinbase will also list the token, given its connection to the project. Coinbase supports Base, a layer-2 network that has integrated with Zora.

Recent Controversies

Zora gained viral attention last week following promotions by the Base network team. Base creator Jesse Pollack highlighted how Zora enabled the creation of “content coins” – tokens representing pictures or phrases in tradeable form.

Base’s official account on X promoted one such token called “Base is for everyone.” This promotion sent the token’s market cap soaring from thousands to over $17 million within hours. The post generated over $30 million in trading volume within 12 hours.

However, blockchain investigators discovered three crypto wallets purchased these tokens before the official announcement. These wallets reportedly made profits of $666,000. This revelation sparked accusations of insider trading.

The token price later crashed 99% within four hours. Base denied the token was a “meme coin” or part of a pump-and-dump scheme. Pollack has also rejected claims that Zora promotions were simply a marketing campaign.

Platform Metrics and Challenges

Zora Network shows substantial onchain activity with over 87 million transactions processed to date. Platform statistics reveal 6,115,229 active addresses and 3,496,896 contracts deployed.

Current daily active users hover around 37,000. However, user activity has declined by more than 80% over the past year. This drop comes amid a cooling NFT market. According to a Binance report, total sales volume across the top 10 blockchains decreased by 12.4% last month.

Despite these challenges, the platform drew over 230,000 new wallets on Sunday, April 20 alone. This surge followed the recent promotions by Base.

As with most token airdrops, investors should expect volatility following the launch. The token distribution model has raised some concerns about potential insider activity. Traders are advised to approach with caution.