Zora Hit Record Daily Revenue Amid Base-Driven Buzz Last Week, But Other Metrics Were Down

Zora, an onchain social network, hit an all-time high in platform trading revenue last week, fueled by viral buzz around posts from Base, Coinbase’s Ethereum Layer 2 (L2) network. At the same time, other metrics, such as wallet addresses and total value locked (TVL), were down or flat. The spike in revenue has reignited debate over the power of social media attention to drive real onchain engagement. On April 16, Zora’s platform trading revenue soared to $137,652, a sharp uptick from the $6,069 recorded just a day earlier, according to data from Blockworks . This was the day the official Base X account posted “Base is for everyone” in text and image form, followed by a link to the tokenized version of that content on Zora. Zora generates a token for all content posted on its platform, which other users can then buy and sell. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant