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Zora: What is it and why is it important for the creators of NFT

Jul 6, 2024
Zora: What is it and why is it important for the creators of NFT
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With the growing popularity of NFTs (non-fungible tokens), there is a demand for platforms that not only simplify the process of creation and trading but also offer creators more favorable conditions. One such platform is Zora, which provides creators with the ability to control their works and earn more profit.

Table of Contents:

What is Zora?

Zora is a decentralized platform for creating, trading, and managing NFTs. It was created to give creators more control over their works and offer an alternative to traditional centralized platforms like OpenSea. Zora operates on the principle of decentralization, allowing users to interact directly without intermediaries.

Benefits of Using Zora for NFT Creators

Zora offers several advantages that make it attractive for NFT creators:

  1. Control Over Works: Creators can set rules for their NFTs, including royalties on each subsequent sale.
  2. Lower Fees: Due to the absence of intermediaries, transaction fees are significantly lower.
  3. Decentralization: All operations occur on the blockchain, ensuring transparency and security.
  4. Flexibility: Ability to create and manage various types of digital assets.
  5. Community: Support from an active community of developers and users.

How to Add Zora Network to MetaMask

To use Zora, you need to add its network to MetaMask. Here's a step-by-step guide:

  1. Open MetaMask and go to "Settings".

  2. Select "Networks" and click "Add Network".

  3. Enter the following details:

    • Network Name: Zora
    • New RPC URL: https://mainnet.zora.co
    • Chain ID: 999
    • Currency Symbol: ZORA
    • Block Explorer URL: https://explorer.zora.co
  4. Click "Save".

After these steps, the Zora network will be added to your MetaMask, allowing you to start using it for creating and trading NFTs.

Zora

Key Features of Zora

Zora offers a wide range of features that make it unique among other NFT platforms:

  1. Minting Hub: Tool for creating and issuing new NFTs.
  2. Zora Protocol: Core protocol that powers the platform.
  3. Marketplace: Decentralized marketplace for NFT trading.
  4. Royalties: Ability to set royalties for creators.
  5. DAO: Decentralized Autonomous Organization governing the platform's development.

Comparison of Zora with other platforms:

Platform Permanent Revenue Transparency Asset Control Global Availability Scalability
Zora Yes Yes Yes Yes High
OpenSea No Yes Partial Yes High
Rarible No Yes Partial Yes Medium

Impact on the NFT Market

Zora significantly contributes to the development of the NFT market by offering creators tools for more effective management of their works and fair compensation. This stimulates the growth of high-quality content and attracts new users to the NFT ecosystem.

Conclusion

Zora is a powerful tool for NFT creators, offering many benefits and opportunities. Thanks to its decentralized nature, users gain more control over their works and can reduce transaction fees. Adding the Zora network to MetaMask makes it easy to start using all its features. In the future, Zora promises to become one of the leading platforms for NFT operations, attracting more creators and collectors.

Zora provides creators with a unique opportunity to control their works and earn more profit, thanks to its decentralized approach and innovative features.

Using Zora is a step towards a fairer and more transparent ecosystem for all participants in the NFT market.

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