Expanding Ethereum, Zora Style 🌐


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Metaversal is bankless newsletter For weekly level-ups in NFTs, virtual worlds and more!

Dear country without banks

I recently covered all the new Zora features that shipped between January and May 2023.

This series of developments has already been really impressive.

But now the Zora team has taken things to another level, or rather another level. layer — with the launch of Zora Network, the project’s own bespoke NFT-centric Layer 2 (L2) scaling solution.

In today’s post, let me walk you through all the basics of this new L2 and show you how to bridge it and start crafting and collecting.

-WMP

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Zora is a decentralized creativity protocol that facilitates the creation and collection of NFTs. It offers a set of DIY tools for creators such as Drops and Multi-Editions, as well as a custom DAO deployer known as Nouns Builder. At the core of the project, Zora V3, is an optimized NFT marketplace system known for its immutable and universally accessible architecture.

For more information on Zora’s current capabilities, see my May 2023 articleExplore Zora

1 month ago Zora announced plans Start your own Layer 2 (L2) scaling solution. idea? Reduce minting and collecting costs for Ethereum Creative.

Little was known about the effort until yesterday, June 21, when the protocol team officially announced it. announced the launch of the mainnet L2, dubbing zora network.

Of course, the gas cost to use the Ethereum base layer (L1) for NFTs has been an obstacle for many over the past few years, but so far most L2s have seen significant traction from NFTs. I’m having trouble getting Here, Zora, with extensive experience in the NFT field, aims to make a breakthrough with Zora Network.

In terms of related infrastructure, L2 is OP stacktechnology that drives optimism and its super chain A vision of many optimistic roll-up chains. Thus, the foundation has provided his Zora with an extremely gas-friendly L2, now integrated with all its creator tools and over 35 industry partners. Additionally, Zola has just rolled out support for casting NFTs in Optimism.

To start casting with Zora L2 you need three things: 1) ETH for gas, 2) Added Zora network support to the wallet, 3) Media such as images that you publish on-chain.

So, let’s say you have ETH on Ethereum and you’re ready to go. Here’s what to do next…

First manually add L2 to your wallet Use resources such as Chainlist (Chain ID = 7777777), or you can do this automatically when prompted later in the creation process on zora.co.

Either way, you’ll need to bridge your funds to Zora Network to continue. You can do this at the following URL: bridge zola energy. At the time of this writing, the bridging transaction here costs ~0.0008 ETH, or ~1.50 USD.

start by going to Zora.co Then connect your wallet.set freely Profile of Zora If you have not already done so, proceed from here.

Then, when you have your media files ready to mint, Zora’s[+ 作成]button and choose one of the available author options (for example,[エディション]) Click. Upload your files, fill in the relevant collection details, then flick to “Zora Network” at the bottom of the interface. Here you can also choose Ethereum or Optimism right now.

If everything looks good, press Create to continue. At that point, you will see mint transactions in your wallet.

At the time of this writing, Zora Network mint transactions cost ~0.0015 ETH (~3 USD) worth of gas. In contrast, on Ethereum today, the same transaction costs about 0.015 ETH, or 10 times more. Once you have completed the mint transaction in your wallet and it is confirmed, your new L2 NFT will be activated.

So simple, right? At this point, you can finish your work by personalizing and sharing your mint page. For example, I created and personalized the commemorative Open Edition drop “Optimistic Zorb”. You can mint for free (Negative Gas + Zora’s Mint 0.000777 Mint Fee) at any time during the next week.

This process is just as easy. If you wish to collect by visiting the Zora Network Mints page, simply click on the NFT “Mint” button and complete any subsequent mint transactions in your wallet. At the time of this writing, the minting cost was around 0.0002 ETH in gas equivalents, or around 0.40 USD at the current he ETH/USD exchange rate.

Zora co-founder Jacob appeared on the Bankless podcast yesterday, national affairs An episode about the launch of Zora Network. It’s quite a lot, so please take the time to read it all. However, we have handpicked a few quotes from the chat as highlights below.

“We describe ourselves as the best place to mint on Ethereum. This is a very tactical one-sentence description. We want to help bring imagination to life on-chain, but then the question is, why do we want to help bring imagination on-chain?” That’s right…we help make information free and valuable on the Internet, essentially revealing all the value we create and do in our daily lives, on social media and elsewhere. Because I want to “

“A big structural inhibitor to the growth and accessibility of on-chain collectibility is gas prices, especially in the timed open edition format…you know…20 Gway of gas to mint free NFTs. The price really starts to get in the way: “Collect experience, build hard barriers, and for us, when we see a ton of NFTs being minted, the high end of Ethereum mainnet as a network We’ve spent months going through all the different options.” And what we finally got is the OP Stack, the Optimism Stack We are planning to release Zora L2 which is built on top of that. [L2] We also added networking to Zora to give creators options…but we decided to take the plunge and launch Zora L2 with Optimism. “

“At Zora, I think what we have always thought about tokens is that first, based on the principle of community ownership, tokens are one of the giant cryptocurrency superpowers. So of course that’s ideal, and secondly, I think ‘Tokens are great if they help decentralize as meaningfully as possible… There are thousands of tokens out there, but these Few on-chain organizations have tokens available. So I’ve always been paying attention, what is the token model that we’re driving, on the DAO side, are we aiming for a functional and meaningful decentralized organization? It’s a part, a long-term ideal, and I think it’s like that. [Optimism] Superchains, decentralized sequencers are a very difficult open problem, so there is still no easy way to turn on tokens and start decentralizing immediately. It’s not the current state of technology, so I think we’re hopeful for the future. Probably until further breakthroughs happen, but for now we’re just trying our best to build the best products and tools possible. “

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To date, Zora’s infrastructure has already been popular among many on-chain creatives. As such, the protocol currently has some of the highest monthly active users (MAU) stats across cryptocurrencies.

Combining this edge of infrastructure and tools with the deep NFT expertise of the Zora team, there is no question that the Zora network is capable of superior capabilities. big The future potential of the NFT space and the Ethereum ecosystem.

So will this new L2 really become the dominant scaling solution for NFTs in the years to come? It has a proven track record and it bodes very well for Zora Network’s future.

William M. Peester is the creator of metaversal — Bankless newsletter focused on the emergence of NFTs in the crypto economy. He is also a senior writer for Bankless’s flagship newsletter.

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It is not financial or tax advice. This newsletter is for educational purposes only and is not intended as investment advice or a solicitation to buy or sell assets or make financial decisions. This newsletter is not tax advice. Please consult an accountant. Find out for yourself.

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Conor the Tech Veteran
He previously spent 6 years publishing research on tech stocks, and believes in using a combination of fundamental, technical, and quantitative analysis. Prior to a career in tech stocks journalism he was a technology and semiconductor analyst with a research team.

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