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NFT Marketplace Zora plans to launch token ZORA

NFT marketplace and online social platform Zora plans to launch a token ZORA based on Ethereum Layer 2 Network Base. Zora said the token is for entertainment only and does not give the holder governance rights. The total supply of ZORA is 10 billion pieces. The distribution plan includes 26.1% to contributors, 20% to incentives, 20% to the treasury, 18.9% to the team, 10% to traceability airdrops, and 5% to liquidity maintenance. Zora previously completed a US$50 million financing led by Haun Ventures in May 2022, with a valuation of US$600 million.(TheBlock)

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