Onchain social network Zora has built a reputation as a popular tool for artists, musicians and other creatives to monetize their content onchain, but the recent launch of its eponymous ZORA token has left many users confused and dissatisfied.
The token’s price tanked shortly after launch, with users and observers complaining about everything from poor communication from the team to the token’s distribution and utility models.
This comes amid an overall decline in interest in the onchain creator economy and a changing perspective on whether blockchain tools like non-fungible tokens (NFTs) are still useful for creatives who want to monetize their work on the blockchain.
With creators and builders shifting focus and NFTs no longer selling like they used to, does the ZORA token drop symbolize the end of the creator-driven NFT model? Maybe not, but many creatives are changing their perspectives and the role blockchain should play in the creator economy.
ZORA token