In this article we look at all the steps to take to get the long-awaited airdrop of layer-2 Zora, with its future cryptocurrency being gifted to early users of the infrastructure.
The trend of layer-2 blockchains on Ethereum is increasingly emerging in the web3 landscape raising investors’ expectations about the future of this niche market.
Zora, a leader in NFTs, has reached a valuation of $600 million and its potential airdrop could earn each community member thousands of dollars.
Full details below
What is the Layer-2 Zora?
Zora, a popular NFT content creation platform, launched its Layer-2 scaling solution for the Ethereum blockchain in June, and may soon release an airdrop of a cryptocurrency native to the new ecosystem.
Built on Optimism‘s OP Stack, the Zora network aims to make the user experience on the Web3 faster, cheaper and more fun.
On the transaction efficiency side, the network should be able to offer very low fees. According to what is written on the crypto project’s official website, Zora’s layer-2 will allow an NFT to be minted by paying less than 50 cents.
In this regard, the co-founder and CEO of the decentralized infrastructure, Jacob Horne, said in a recent interview that his product is about to “experiment with economic mechanisms” that will bring a lot of interest to the world of non-fungible tokens.
Zora’s philosophy is to put artists and creators first by granting them very interesting features including highlighting NFT trends, the ability to post comments, and customize user profiles-all of which will, according to its founder, lead the ecosystem to become the “Tumblr of the web3.“
The platform already integrates a whole range of Zora’s existing tools and is supported by more than 35 groups including sound.xyz and PleasrDao.
Founded in 2020, it has gained a base of 100,000 monthly users in just a few years, hinting that it will be a benchmark for the decentralized world of the future.
Last year the Zora team raised $60 million in three separate funding rounds, including a $50 million led by Haun Ventures.
In total, the company was valued at $600 million and enjoys prominent names among its investors including Paradigm, Kindred Ventures, and Coinbase Venturer.
An airdrop could be the easiest and most cost-effective way to usher in the era of a new network token, while giving liquidity in the hands of its backers and attracting volumes from decentralized finance users.
According to L2beat’s data, Zora Network already has a TVL of $4.7 million and is continuing to steadily increase user traffic on its blockchain.
How to receive cryptocurrency airdrop: bridge funds from Ethereum to Zora
Let’s now move on to see all the necessary actions to perform in order to try to get airdrop of the future Zora crypto.
As in any self-respecting layer-2, the first step to perform is to deposit funds from the Ethereum blockchain to that of Zora.
To do this, it is essential to already have a small fraction of ETH on a decentralized wallet such as Metamask or TrustWallet.
If you have never had experience with non-custodial wallets, you can download Metamask here.
You will then need to transfer funds from a centralized exchange to your new decentralized address.
When this is done you will be ready to bridge: go to the project’s official website, connect your wallet, select an amount to transfer and click on “bridge to Zora.”
Indicatively, it is sufficient to deposit $20-30 of countervalue in ETH: however, with more capital at your disposal you will be able to create more trading volumes and consequently maximize airdrop allocation.
On the fees side, at this time it is very cheap to execute this type of transaction and you pay approximately $2-3. On the other hand, bridge execution takes about 1 minute.
If you have funds on other blockchains outside of Ethereum, you can deposit on Zora using interoperability applications such as Orbiter Finance.
In this case, since it is not a native bridge, you may lose some points in the final evaluation of all the on-chain actions you have performed.
The advice is to use both solutions and repeat the transition at least 2-3 times over the next 6 months.
Minting NFTs
Since Zora is a platform focused on NFT creation, in order to receive airdrop it is essential to go and create your own collection using the layer-2 in question.
Doing so is very simple: just go to the official Zora website (the same one where you ran the bridge) click on the “+” and select the edition item.
Once you have done that you will have to insert an audio, video or image file of maximum size 2 GB. HTML, PDF and GIFs files are also supported.
Then enter a name, description, listing price and set the percentage related to the royalties you will get whenever another user goes to resell the NFT on the secondary market.
The Zora platform features allow creators to choose the maximum supply of the collection and decide whether to carry out minting in real time or schedule it for a set date.
It is also possible to set a maximum number of mints per address, preventing the concentration of supply around a few individuals.
Afterwards, to increase your chances of getting an airdrop, you can mint a piece from an existing collection.
Choose a non-fungible token present from those located within the platform and perform the mint.
Be careful because Zora is also live on Base, the layer-2 of Coinbase, so some collection belongs to another infrastructure.
Choose the item you like best in the Zora network, perhaps opting for zero-cost NFT where you will only pay fees (a few dollar units) and confirm the transaction.
Finally, to maximize the allocation of future ZORA tokens that will be airdropped, you can mint a “fundrop pass” on the Mint.fun platform, which will give you points with which you will likely earn rewards.
This time the reference chain is Ethereum, but the transaction cost is definitely cheap (about $3-4).
By minting a fundrop pass for 7 days in a row, entering your email and performing other tasks that will be given to you after the first mint, you can earn additional points.
The advice is to perform this process at least once, and repeat it if you have enough funds available. In any case, we would say that it is more important to create your own collection and purchase NFTs featured on Zora’s site.