Markets, Social Money, Coinbase, Base, News The Base App’s integration with Zora and Farcaster has made it easier for Web3 users to both discover and access these platforms.
Coinbase’s rebrand of its Wallet into the Base App has kicked off a SocialFi surge, sending Zora’s (ZORA) activity into overdrive and leading to a massive rally for its token.
Zora, which lets users mint tradable tokens tied to individual social posts, saw a dramatic rise in use following the app’s July 16 rebrand. The Base app’s features include posting, chatting and one-tap token minting, integrated with Zora and Farcaster.
The result, according to Dune data, were daily Zora token creations jumping from about 4,000 to more than 15,000, with a peak of 38,000 mints on July 24.
Daily trades rose from 30,000 to over 150,000, while trading volume crossed $6 million a day, up from just $1 million before the launch.
The price of ZORA soared 440% in the past week, from $0.011 to $0.0615. The token’s market cap rose to more than $200 million from just below $50 million in a week, according to CoinMarketCap data.
Creator earnings followed the trend, according to Dune data.
Daily payouts spiked from around $1,000 to over $30,000 as more than 12,000 unique creators joined the rush. Over 8,000 Zora Smart Wallets were active each day during the boom.
Read more: How Will Coinbase Rebrand Its Wallet?
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