NFT marketplace Zora announces ZORA token with airdrop in spring 2025

The NFT marketplace and onchain social platform Zora intends to launch ZORA, a token undergirded by the Ethereum Layer 2 network Base.ZORA joins Magic Eden and OpenSea as other NFT marketplaces establishing their own token launch in recent months. However, Zora's forthcoming token is intended "for fun only" and doesn't give holders governance claims, the company noted in a Monday release.The first ZORA snapshot occurred on Monday, with the second snapshot slated for three days before ZORA's official airdrop sometime in spring 2025. The token will have a 10 billion total token supply, with 26.1% going to contributors, 20% to incentives, 20% to the treasury, 18.9% to the Zora team, 10% to retroactive airdrops and 5% to maintaining liquidity.Though Zora's token is intended "for fun only," other NFT marketplaces have noted additional use cases for their tokens. The Solana-based NFT marketplace Magic Eden launched its ecosystem and utility token ME in December 2024 to enable cross-chain trading on the platform. And while OpenSea has yet to launch its token SEA, the coin will play a role in the marketplace's revamped protocol OS2.In May 2022, Haun Ventures led a $50 million funding round for Zora, which netted the NFT marketplace a $600 million valuation at the time.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.