Subscribe to Bankless or sign in
Base landed itself in the crypto hot seat this week for promoting Zora’s recent pivot to fungible tokens with an official “Base is for everyone” content coin.
The token experienced tumultuous early trading activity, surging to a $17M market capitalization within hours post-launch, only to dump 95% in a matter of minutes before recouping the losses over the following days.
While critics saw little sense in crypto’s second-largest exchange shilling memecoins, content coin proponents proclaimed that the unified liquidity offered by these instruments makes them superior to existing non-fungible token (NFT) formats and suggest that the experiment could help creators unlock new revenue streams.
Subscribe for free to continue reading
- Support the Bankless Movement
- Access to thousands of articles
- Complete archive of Bankless episodes
- Embark on free quests in Airdrop Hunter
- Daily alpha in your inbox
Already subscribed? Sign in
