What is Zora? Join Weakhand to find out the reasons why an NFT marketplace project like Zora has shifted towards building a Layer 2. Will these changes in orientation help us find any profit opportunities? profit from the project in the future?
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What is Zora?
Zora is a decentralized protocol that allows anyone to buy, sell, and even create NFT collectibles freely without paying a single protocol fee. Zora’s team is currently also building their own Layer 2 called Zora Network to help users transact faster and cheaper than Ethereum.
Zora’s main development goal is to focus on developing a Web3 space to help content creators and artists unleash their creativity without encountering any limitations.
Highlights of Zora
To realize its vision, Zora is focusing on developing the following products:
- Zora Network: A Layer 2 on Ethereum using OP Stack technology.
- Creater NFT Collection: Smart contracts allow anyone to deploy an NFT collection in seconds with customized properties and mechanisms.
- Zora API: Helps developers easily retrieve NFT data, track events on the blockchain, analyze sales activity,…
- Zora Dev Kit (ZDK): ZDK makes the Zora API accessible to everyone without having to know GraphQL (data query operations).
Zora Network
Zora Network leverages the Bedrock version of the OP Stack, intentionally structured to be as similar to Ethereum as possible. However, there are still slight differences in the behavior of Zora Network compared to Ethereum as follows:
- The time each new block is created will be 2 seconds.
- Zora Network’s gas limit is 30,000,000 per block.
Lo Trinh Development
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Core Team
Jacob Horne
Jacob Horne is currently a co-Founder of Zora, who has many years of experience in the crypto market with the following history:
- Worked as Product Designer at Coinbase from January 2017 to May 2018 with 2 main products: Coinbase Pro and Coinbase Mobile.
- From July 2018 to March 2020, Jacob Horne was Product Manager at Coinbase and the USDC product as well as a member of Coinbase Ventures.
- After quitting his job at Coinabase, Jacob Horne and Tyson Battistella founded Zora and developed the project to the present.
Tyson Battistella
Tyson Battistella also has many years of experience operating in the field of technology in general and the crypto market in particular:
- Worked as a programmer at Telmediq from 2015-2017, this is a cloud application specifically for healthcare developed towards businesses.
- From May 2018 to 2020, Tyson Battistella was a software engineer at Coinbase, this was also probably when Tyson Battistella met and got to know Jacob Horne.
- Tyson Battistella started working at Zora from August 2020 until now.
Investors
Zora has gone through many rounds of capital raising with details as follows:
- Seed Round: Raised $2M with the participation of Kindred Ventures and Coinbase Ventures.
- Funding Round: Raised $8M on April 1, 2021.
- Funding Round: Raised $50M at $600M valuation and participation from Haun Ventures, Coinbase Ventures,…
Tokenomics
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Exchanges
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Project Information Channel
- Website: https://zora.co/
- Twitter: https://twitter.com/ourzora
- Discord:
Summary
Above is the information everyone needs to understand to understand what Zora is as well as the highlights of the project. Weakhand hopes that this article will bring useful content to serve everyone’s research process.
