- Coinbase’s Base Layer 2 has surpassed Solana in day by day token creation, pushed largely by the rise of Zora and its content-based token mannequin.
- Over 100,000 tokens had been minted on Base in two days, however critics warn that the majority exercise is speculative, not creator-led.
- Whereas critics name them “rebranded shitcoins,” Base’s creators argue that tokens can lastly empower digital creators and decentralize worth.
Coinbase’s Layer 2 blockchain, Base, has formally outpaced Solana in day by day token creation, changing into probably the most lively chain for brand spanking new tokens for the primary time since 2023. This fast shift is basically credited to the explosive development of Zora, a protocol designed to tokenize digital content material and switch social interactions into tradeable property.
Zora Drives Content material Coin Frenzy
Over 100,000 tokens had been minted on Base between July 27 and 28 alone, based on Sealaunch’s information by way of Dune Analytics—most of them created by way of Zora. In distinction, Solana-based token platforms like Pump.enjoyable and LetsBonk fell behind in token issuance throughout the identical interval. The rise in token quantity highlights Zora’s affect, the place digital posts and memes are being became “content material cash” at scale, triggering renewed hypothesis within the social token house.
Critics Slam Hypothesis-Led Token Creation
Nevertheless, not everyone seems to be celebrating. Information from TK Analysis reveals that 93% of customers on Zora are merchants, with solely 6.1% being precise content material creators, and a mere 0.9% participating in each roles. Critics argue that these cash, typically minted with low liquidity and steep value curves, are primarily simply memecoins rebranded—creating zero-sum video games the place retail traders bear the brunt of losses resulting from high-frequency bots, insider buying and selling teams, and coordinated dumps.
AI researcher Sterling Crispin warned that regardless of new labels like “Tradition Tokens” or “Music Tokens,” the elemental dangers stay. “No person leaves with greater than they got here with until another person is dropping,” he mentioned, likening the ecosystem to a recreation of musical chairs.
Base’s Creators Defend Token Utility
Jesse Pollak and Coinbase govt Conor Grogan have each championed Base’s new standing as a milestone for the broader crypto ecosystem. Pollak defended the speculative wave, arguing that tokens present an modern method to restore worth to creators who’ve lengthy been marginalized by legacy social and monetary programs. “Cash are probably the most highly effective know-how now we have…we should always let creators use them,” he said.
Whether or not Base’s token creation surge marks a sustainable development or only a speculative frenzy stays to be seen—however its lead over Solana alerts a big second within the evolution of crypto content material monetization.