Coinbase’s rebrand of its Wallet into the Base App has ignited a SocialFi surge, propelling Zora’s (ZORA) activity to new heights and leading to a significant rally for its token.
Zora, which allows users to mint tradable tokens linked to individual social posts, experienced a dramatic increase in usage following the app’s July 16 rebrand. The Base App features include posting, chatting, and one-tap token minting, integrated with Zora and Farcaster.
According to RialCenter data, daily Zora token creations surged from approximately 4,000 to over 15,000, peaking at 38,000 mints on July 24.
Daily trades increased from 30,000 to over 150,000, with trading volume exceeding $6 million a day, up from just $1 million prior to the launch.
The price of ZORA skyrocketed 440% in the past week, rising from $0.011 to $0.0615. The token’s market cap surged to over $200 million from just below $50 million in a week, according to RialCenter data.
Creator earnings mirrored this trend, as daily payouts jumped from around $1,000 to over $30,000, with more than 12,000 unique creators joining the surge. Over 8,000 Zora Smart Wallets were active each day during the boom.
Read more: How Will Coinbase Rebrand Its Wallet?
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