Recent changes in the Base ecosystem, related to tokens and SocialFi, occur against the backdrop of Solana's steady activity. Base's transformation into a platform for new token launches, following the rebranding of its wallet, faces criticism and questions about the future value of launched tokens.
Impact of Base App Rebrand
The rebranding of Coinbase's wallet to Base App on July 16 turned it into a hub for content creators. This innovation promptly led to a dramatic increase in token launches: 7,557 tokens were launched on July 16, with the number doubling to 22,098 the next day.
Comparison of Token Activity on Base and Solana
Despite the recent surge in activity on Base, Solana still maintains its leadership in key metrics. For instance, on July 23, Zora surpassed Pump.fun to claim the second place in token launches. However, critics like Brian Huang emphasize that most new tokens lack liquidity and may turn out to be worthless.
Future of Zora Tokens and Their Value
Although new tokens on Zora are attracting attention, their value remains highly questionable. Brian Huang states: '99.99% of these content tokens will be similarly worthless', pointing out similar issues facing Solana tokens. Thus, the future of Zora tokens continues to be debated, as the platform currently does not provide sufficient liquidity.
The dynamics surrounding token launches on Base and Solana highlight the importance of not only quantity but also the quality of the tokens being created. Each platform faces unique challenges, and its ability to deliver real value will be key to future success.
