The Zora token launch, backed by Coinbase Ventures, initially experienced a price rise but has since fallen over 50%, reflecting trader skepticism toward venture-capital-supported tokens. Critics point to Zora's lack of utility, transparency, and clear governance as reasons for the sell-off, which has caused widespread frustration among participants. Market experts note that traders are cautious, having witnessed numerous high-profile tokens suffer from similar patterns after launch. Zora's model aimed to tokenize various forms of content but failed to establish meaningful use cases or a coherent roadmap beyond being 'a token for fun.' Despite its struggles, Zora's NFT minting protocol has attracted interest, suggesting potential short-term investment opportunities as the market adjusts to its new reality, trading around 2 cents with a market cap of approximately $73 million. This situation illustrates ongoing challenges in the crypto space, where tokens without substantive backing often quickly lose their appeal.

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