Today, we are witnessing expansive growth in the creator economy, but many talented individuals still face barriers to accessing blockchain technology where they can showcase their talents and earn. Through the innovation of blockchain technology, Zora and Base integrate, bridging the gap by introducing people from non-technical backgrounds to the world of Blockchain.
Creators who utilize these platforms engage with their audience and monetize their talents by minting their content as Non-fungible tokens(NFTs).
This article explores how Zora's integration with Base promotes inclusivity by bringing a diverse array of creators on-chain.
What is Zora?
Zora is a decentralized Socialfi protocol that allows digital creators and collectors to tokenize and trade digital assets on the blockchain. It is a layer two solution built on the Ethereum blockchain using the Optimism technology(OP) stack. A Decentralized Autonomous Organization (DAO) operates the Zora Network and is responsible for making decisions on behalf of the network.
Zora is an online store for digital art, music, and other creative works. Imagine you are an artist who creates digital art. Usually, you would sell your work through a platform like Etsy and rely on middlemen (the platform itself) to make sales. Zora changes this by allowing you to sell directly to your fans without anyone in between, which decentralizes the process.
You can create digital tokens called " Media Tokens" (MTs). These tokens act like a digital certificate of ownership for your art, music, or any creation. When someone buys an MT, they own the rights to that digital work. This way, you still control your creation and get paid directly.
Zora’s marketplace is decentralized, meaning no intermediary is taking a cut. Fans or collectors can buy your MTs directly from you, and you both get a fair deal. For collectors, these tokens prove they own something unique and rare, making digital collecting more exciting.
Zora uses NFTs, which ensure each digital item is unique. The platform employs a proof-of-stake consensus mechanism for efficient token creation and transactions.
Zora lets creators control how they sell their work and allows collectors(buyers) to buy exclusive digital items with clear proof of ownership. This system reshapes how we buy, sell, and own digital art and other creative works, making the process fair and transparent for everyone involved.
What is Base?
Base is a Layer 2 solution blockchain built on Ethereum with the OP stack. It was developed by Coinbase in 2023. As part of the OP Stack ecosystem, Base is aligned with the "Superchain" vision, which aims to create a network of interoperable rollups scaling Ethereum
It is an on-chain economy where you learn, earn, and build. With the Base network, instead of handling every transaction directly on Ethereum (which can be slow and costly), Base processes them off the main chain.
It bundles several transactions together into a single batch and then posts this batch back to Ethereum. This reduces the number of transactions the main chain has to process, which helps lower costs and speeds up transaction times.
Base uses a technology called Optimistic Rollup. This means it assumes that transactions are valid by default and only checks them if there's a suspicion of fraud. This assumption speeds up the process and keeps fees down.
One of the main benefits of using Base is that it significantly increases scalability and reduces transaction costs. Its compatibility with the Ethereum Virtual Machine (EVM) enables developers to build decentralized applications (dApps) on Base without making major changes to their existing dApps. This makes Base an appealing choice for developers looking to create efficient and cost-effective applications.
How Zora integrates with Base
The integration of Zora with Base represents a significant step forward in creating a more inclusive environment for creators. This collaboration allows Zora’s creator-centric features to be seamlessly utilized on Base, enhancing the overall experience for both creators and collectors.
It integrates with Base in the following way:
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Gasless Minting: Zora integrates with Base to perform gasless NFT minting through its ERC-1155 "Premint" functionality using Zora's contracts. This allows users to create and share NFT collections without needing a funded wallet, lowering the barrier to entry for new users in the NFT space.
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Technology Infrastructure: While separate platforms, Zora and Base share fundamental technological similarities that allow for potential integration within the Ethereum ecosystem. Both are Layer 2 solutions built on Ethereum, aiming to improve transaction speed and reduce costs. They utilize the same technology (OP Stack), creating interoperability opportunities. Developers can leverage Zora's NFT-focused tools and contracts within the Base ecosystem.
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Governance: Zora operates through a Decentralized Autonomous Organization (DAO), and the smart contracts governing this DAO are implemented on the Base network. This cross-platform implementation demonstrates the potential for collaboration between these two systems.
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Network Support: Zora supports the Base mainnet and the Base Sepolia testnet, giving developers flexibility in their development and testing processes. This multi-network support facilitates a smooth transition from development to production environments.
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Shared Ecosystem: Zora is part of the superchain ecosystem, which includes Base. This means most of Zora's tools are compatible with and work on Base.
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Coinbase Smart Wallet Integration: The integration also extends to wallet compatibility. For instance, the Coinbase Smart Wallet can be used with Zora's tools on Base, showcasing the ecosystem's interoperability and user-friendly approach.
Zora's Role in the Creator Economy
Zora aims to decentralize the creator economy, allowing creators to tokenize their work through MTs. This enables them to sell their digital assets directly to collectors without intermediaries.
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NFT Minting: Creators can easily mint NFTs representing their work, allowing for unique ownership and provenance.
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Revenue Sharing: Zora facilitates fair revenue distribution, ensuring that creators receive a significant portion of the sales.
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Decentralized Marketplace: The platform provides a space where creators can showcase their talents and sell their work directly to their audience.
How Zora and Base Promote Inclusivity Through On-Chain Participation
One of the most significant impacts of the Zora integration with Base is its ability to lower the financial barrier to entry into the blockchain space. This is particularly important for diverse creators who may have previously felt excluded from the digital economy and blockchain space.
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Gasless NFT Minting: Zora and Base allow users to mint NFTs without paying transaction fees, making it easier for new creators to engage in blockchain activities without financial obstacles.
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No Funded Wallet Needed: Creators can mint NFTs on Base without pre-funding their wallets, removing a common entry barrier.
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Coinbase Smart Wallet: This integration simplifies blockchain interactions, providing a seamless experience for users unfamiliar with Web3 technology.
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User-Friendly Access: Zora’s intuitive interface helps non-technical users mint NFTs, reducing complexity. It also provides a support guide for onboarding new creators and developers to the platform.
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Diverse Participation: Zora and Base encourage creators from various backgrounds to join the blockchain ecosystem, eliminating financial and technical hurdles. It also promotes democracy and access to the digital art market, enabling creators from diverse backgrounds to participate and retain more value from their work.
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Community-Driven: Both Zora and Base emphasize community engagement and participation. For example, the Base Onchain Summer event invites users to bridge their assets and mint NFTs, celebrating early participation in the network. This type of initiative encourages a sense of belonging and inclusivity among participants.
Conclusion
The integration of Zora and Base holds great potential for the future of the creator economy. As both platforms evolve, they can further enhance their offerings and expand their reach.
This represents a significant milestone in the journey toward inclusivity in the blockchain space. Bringing creators on-chain and providing them with the tools they need to succeed paves the way for a more equitable and diverse digital economy.