Coinbase's "SocialFi" sparks Zora fever, with Basechain's daily token issuance surpassing Solana's

On August 4th, CoinDesk reported that Dune Analytics data showed that Base, the Ethereum Layer 2 network supported by Coinbase, has surpassed Solana in daily token issuance. This growth was primarily driven by the decentralized social platform Zora, whose "Creator Coin" model transforms content into a tradable asset. Following Coinbase's Base app's transformation into a SocialFi portal in July, the ZORA token has seen over 500% growth in the past month.

Data shows that after the Base app's relaunch, Zora's platform activity reached record highs: over 1.6 million Creator Tokens were minted, attracting nearly 3 million unique traders and generating $470 million in total trading volume.

However, critics point out that the current user base is primarily traders, leading to short-term speculation. Zora's governance has also sparked backlash on social media. However, the creator economy on the Base chain is rapidly expanding.