Zora announces the launch of "entertainment only" Meme coins, with plans for airdrops in the spring of 2025

According to The Block, the generic media registration protocol Zora announced in a statement on Monday that it will launch its eponymous Meme coin on the Optimism based Base network in the coming months. The upcoming token is "for entertainment only" and will not grant holders governance rights. The first snapshot of ZORA will be conducted on Monday, and the second snapshot is scheduled three days before the official ZORA airdrop, expected to take place at some point in the spring of 2025. The total supply of this token is 10 billion, of which 26.1% is allocated to contributors, 20% is used for incentives, 20% belongs to the national treasury, 18.9% is allocated to the Zora team, 10% is used for retrospective airdrops, and 5% is used to maintain liquidity. It is reported that Zora is a universal media registration protocol built using the Optimism technology stack. The company was founded in 2020 and launched the decentralized, creator centric Zora network in 2023. In May 2022, Haun Ventures led a $50 million funding round for Zora, valuing the agreement at $600 million at the time.