The post What’s the deal with Zora, Base, and content coins? appeared on BitcoinEthereumNews.com.

Coinbase-sponsored second layer blockchain Base caused a stir on Wednesday when, despite repeatedly claiming that it had no intention of launching a token, it launched a token. Confusingly, however, depending on who you listen to, it either didn’t launch a token at all, or it has launched something called a “content coin.” BASEISFOREVERYONE was announced by Base via an X post and was billed as being for “coiners, collectors, traders, builders, creators, artists, writers, musicians, visionaries, sports fans, podcasters, travelers, DeFi users, students, and so much more.” Unfortunately, the memecoin crashed 88% within hours. What’s peculiar, however, is that Coinbase itself is adamant that it didn’t actually launch a token or memecoin. This, it says, is due to the token launching on Zora. Zora is a copy of Instagram that utilises Base’s layer 2 chain to tokenize every post users make, meaning they can subsequently be traded and sold.  A Coinbase spokesperson told Protos that “Zora is an onchain social media platform, where people can post, like, and share content. Posts on Zora are automatically tokenized.” It said, “To be clear, Base did not launch a token, this is not an official Base token, and Base did not sell this token. Base posted on Zora, which automatically tokenizes content.” Base’s endorsement of the “Base is for everyone” token. Read more: Coinbase claims the token Base just launched isn’t actually a token at all Base itself also tried to skirt around the token launch by claiming that it, and any future coins on Zora, “are not an official network or protocol token for Base, Coinbase, or any other related product.”  It claims they are “solely for artistic and cultural purposes as collectibles, not as investments or financial instruments.” It also says the post itself is similar to a post on X.…

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Filed under: News - @ April 17, 2025 5:25 pm