Zora

In celebration of the one-year anniversary of the Zora protocol and the initial release of zorb, we invite you to mint a commemorative NFT for your collection. Minting is open for 20+22 hours on New Years Day and cements your status as an early supporter of Zora.


[zorb.dev](https://zorb.dev/) by [zora.co](https://zora.co).

ZORBS by ZORA

Today, we released a major upgrade of the @zora protocol. 

We are bringing secondary markets onchain with @uniswap to unlock more value for creators and collectors after a mint.

When the mint ends, the market begins. 
It's like magic.

The largest onchain marketplace. Buy and sell crypto on Ethereum and 10+ other chains.

Our goal is to build the most rewarding place to create and collect on the internet.

This means pairing the most efficient minting models with the most simple user experience possible.

This requires constant iteration and evolution at the protocol level.

By pairing Zora's and Uniswap, we are able to introduce a new era of creator royalties called Secondary Rewards.

Every time a collector buys and sells on Uniswap, the creator will earn a percentage of that sale via the LP fees.

These are onchain and can't be removed.

This upgrade addresses one of the largest collector painpoints: missing a mint.

Instead of seeing an ended mint and not being able to do anything about it. Collectors can easily buy off the secondary market at the best available price.

We engineered an extension of the ERC1155 standard.

Like WETH where ETH is wrapped and unwrapped into an ERC20 form.  An ERC1155 can be easily wrapped and unwrapped into ERC20 form directly on the contract.

This combines the provenance of Zora with the liquidity of Uniswap.

There are two updates to the core minting protocol:

+ A new mint fee of ✧111 (0.000111 ETH)
+ 3 day default duration

3 days is short enough to capture the essence of the moment, but long enough for everyone around the world to see it.

We are putting the full power of crypto into the hands of creators and collectors. 

We've unlocked:
+ New creator royalties
+ A powerful post-mint collector experience
+ Price discovery when a mint ends
+ Open and onchain markets

A new imagination era.

The user experience feels like magic. On web, you can simply buy and sell at the current available price. 

On mobile, you can double tap a post to easily buy and sell after a mint has ended.

A small percentage of the mint fee is used to bootstrap the Uniswap market at the end of the mint. Making it instantly liquid.

We hope that a more efficient market means that important and viral mints can realize that value more effectively: benefitting creators and collectors.

Read the full announcement here, including more details on the protocol upgrade:

https://zora.co/writings/onchain-secondary-markets

Huge congrats on the upgrade!

Secondary markets are a massively underserved aspect of onchain media/art/collectibles/etc. and this approach feels (in typical Zora fashion) both logical and intuitive. Excited to see how it goes and appreciate you making articles like this so easy to track 🤝

does this work kind of similar to a bonding curve?

How does one list on secondary? There's no option on Zora. Is it on Uniswap?

love it, definitely gives collectors more incentive, and rewards the creator alongside it

qq
where do you see as the best discoverability of secondary mints being located in the near term? in the app?

have always been curious about better ways to search for photography on zora

Is the fee reduced for free mint now?

I just minted @ccarella.eth new artwork and cost me 0.27$ when it was previously about $2! Amazing!

Feels like the right step. Oncain is better.

Secondary markets onchain. This is really awesome. Everything onchain~!
By the way, I’d like to use the Zora app as well. plz invite me.😅 😅

You can still pick your own duration on web. This is just the default.

can we only do mints as 3 day open editions now? or is that only if u want to use this feature?

As a collector, thank you for indeed addressing the huge pain point of ended mints. This looks fantastic.

Love this new protocol design. I ought to try creating something on @zora for the first time.