What’s the deal with Zora, Base, and content coins?
Coinbase-sponsored second layer blockchain Base caused a stir on Wednesday when, despite repeatedly claiming that it had no intention of launching a token, it launched a token. Confusingly, however, depending on who you listen to, it either didn’t launch a token at all, or it has launched something called a “content coin.” BASEISFOREVERYONE was announced by Base via an X post and was billed as being for “coiners, collectors, traders, builders, creators, artists, writers, musicians, visionaries, sports fans, podcasters, travelers, DeFi users, students, and so much more.” Unfortunately, the memecoin crashed 88% within hours. What’s peculiar, however, is that Coinbase itself is adamant that it didn’t actually launch a token or memecoin. This, it says, is due to the token launching on Zora. Zora is a copy of Instagram that utilises Base’s layer 2 chain to tokenize every post users make, meaning they can subsequently be traded and sold . A Coinbase spok...
