# What is Zora?

By [tkmag](https://paragraph.com/@tkmag) · 2024-10-14

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Zora is a **decentralized NFT platform** that allows **artists and content creators** to create, buy, and sell their own NFT collections. Zora emphasizes tools that make it easy to convert **art, music, videos, podcasts, and animations** into NFTs. Unlike a standard NFT marketplace, Zora provides a suite of tools to help creators build unique works and ensure **fair royalty payments**.

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### **Zora’s Key Products**

1.  **Zora V3 - NFT Marketplace**
    
    *   **Enhanced Royalty Payments:** Royalties for artists are processed **on-chain**, ensuring transparent and direct payouts.
        
    *   **Modular Architecture:** Developers can customize the marketplace by selecting specific modules to integrate.
        
    *   **Finder Fees:** Users earn commissions by referring others to purchase NFTs using referral links.
        
    
    **Notable Statistics (as of March 24, 2023):**
    
    *   10,783 NFT collections created
        
    *   3.1 million NFTs minted
        
    *   708,194 buyers and 70,972 creators
        
    *   $226.9 million in secondary market sales
        
2.  **Zora Network**  
    Zora launched its **Layer 2 blockchain** in June 2023, built on **OP Stack technology**. Zora Network is **EVM-compatible**, offering **faster and cheaper transactions** while focusing specifically on NFT development within the Web3 space.
    

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### **Additional Tools and Features**

*   **Nouns Builder:** A tool to create **DAOs** within minutes.
    
*   **Create:** Supports artists in launching **NFT collectibles** using ERC-1151 or ERC-721 smart contracts.
    
*   **API Access:** Allows creators to **track on-chain data and transactions** from various marketplaces (e.g., OpenSea, LooksRare).
    
*   **Zora Development Kits (ZDK):** Offers API tools without requiring advanced GraphQL knowledge.
    
*   **NFT Rendering:** Manages the display of text, images, videos, and audio in NFTs.
    
*   **NFT Hooks:** Facilitates interactions with Zora’s API for data retrieval.
    

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### **Unique Features of Zora**

1.  **On-Chain Operations & Lower Transaction Costs:**
    
    *   All transactions on Zora V3 are **fully on-chain** (including listing and selling NFTs). This reduces **gas fees**, unlike other marketplaces like OpenSea, which operate partially off-chain.
        
2.  **Non-Custodial Listings:**
    
    *   Creators can list NFTs **without transferring custody** to Zora. NFTs remain in the creator's wallet until sold, giving them full control.
        
3.  **Finder Fees:**
    
    *   A **commission incentive** for users who successfully refer buyers through referral links. Creators can embed these referral programs when listing their NFTs on Zora Marketplace.
        
4.  **Royalties and Royalties Registry:**
    
    *   Zora enforces **on-chain royalty payments** aligned with the **EIP-2981 standard**. Creators can customize how royalties are managed through Zora's **Royalties Registry** and integrate with other platforms like **OpenSea** and **Rarible**.
        
5.  **Auction House:**
    
    *   Zora’s Auction House is an open system where **any community, creator, or DAO** can host auctions. Auctions follow **ERC-721 token standards** and allow flexible time settings. If a higher bid is placed within the final 15 minutes, the countdown resets to 15 minutes, and each new bid must exceed the previous one by at least 5%.
        

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Zora stands out by focusing on **creator empowerment** with transparent on-chain royalties, non-custodial NFT listings, and unique commission structures. Its **Layer 2 blockchain** offers scalability and cost efficiency, further promoting a Web3 environment where artists and creators can thrive without limitations.

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*Originally published on [tkmag](https://paragraph.com/@tkmag/what-is-zora)*