Zora Token Launch Under Fire Amidst ‘Content Coin’ Hype

The launch of the $ZORA token generated criticism, fueled by concerns about its utility and distribution practices. Zora Protocol positioned itself as an NFT infrastructure provider, favoring insiders in the allocation of tokens, prompting community distrust and skepticism. This resulted in a significant drop of over 50% for the $ZORA token price after launch. Further contributing to this backlash is the association with Jesse Pollak’s content coin initiative, which heightened doubts about the project’s legitimacy.