So after a period of hinting from Solana,
@zora has officially pivoted from
@base.base.eth to Solana.
I have seen a lot of mixed opinions around this move. Here is my personal view.
From a builder perspective, Zora is a strong team. They have changed a lot compared to who they were in the early days.
At the beginning, Zora started as a Superchain using OP Stack. Their main product was an NFT launcher. Back then, they did not get much real attention. Most of the activity came from airdrop hunters minting NFTs. The NFTs had little real value. That phase did not work out.
Then they slowed down on developing Zora chain and pivoted to the idea of coining everything on Base. They built a launcher that allowed users to post an image and coin that image. The concept sounded interesting, but in reality it was not truly successful.
Next came a bigger shift. The TGE of $ZORA, along with creator coins and content coins. They received very strong support from Base, especially through integration with
@baseapp.base.eth , the strategic product of Base. This support created a huge wave of attention, even some backlash because it felt like it disrupted balance across other sectors. It was never officially called a failure, but up to this point, imo, it did not deliver the expected outcome.
And now, the latest move. Pivot to Solana with Attention Markets.
The issue here is not only technical. No matter how many times they changed before, they were still building products for the Base community. Now they are moving to Solana. Maybe they will succeed there. But even if they succeed, they will likely lose support from the Base community.
Base and Solana are two very different communities with different cultures. Trenches on Base are not the same trenches on Sol. And the opposite is also true. When you leave the trenches where you built your name, you lose the protection of that original community. That is one of the main reasons behind the strong reactions against Zora today.
From a technical perspective, ZORA’s market cap is still not large or stable enough. Designing paired launched tokens with ZORA as the base asset creates structural risk. The ecosystem becomes fragile and can collapse together with the price of ZORA. In my view, they need ZORA at around a $300M market cap with deep liquidity like $VIRTUAL to run this model efficiently and sustainably.
From a marketing angle, they are not performing well either. They do not have strong runners, and they do not have a compelling story that can attract liquidity. Their biggest opportunity last year was $thenickshirley, a viral narrative big enough to become a major runner. But they did not support it well enough for his creator coin to become the leading asset that could drive the whole ecosystem.
Now let's wait for what Zora's Attention Market will produce. But personally, I will not join, I am Base trenches.
https://x.com/zora/status/2023797263651533053