Ethereum L2 Base Launchpad Zora Announces TGE Amid Jesse Pollak 'Content Coin' Campaign
Zora, a social media platform that converts posts into tokens on Coinbase’s Base chain, is launching its own token on April 23, 2025. This follows a controversial "content coin" campaign initiated by Jesse Pollak, which faced criticism for its timing. The campaign began with the creation of a token called "Base is for everyone," which experienced extreme volatility, reaching a $16.9 million market cap before crashing 92%. Pollak advocates for content coins to better compensate creators, a stance now adopted by Base. Detractors argue the market may not be ready for this approach. Zora's trading activity surged by 601% during this period. Speculation arose regarding Coinbase's involvement in funding Zora, with reports indicating a $52 million investment. Concerns about token distribution favoring insiders have also been raised. Pollak maintains that the timing of Zora's token launch is coincidental and that the concept was thoroughly considered.
