A Quick Understanding of Zora Network, an NFT Application Chain Based on OP Stack

Zora Network is an NFT application chain based on OP Stack.

Author: William M. Peaster, Senior Author at Bankless; Translation: LianGuaixiaozou

The Zora network is a Layer 2 (L2) scaling solution built on Ethereum, dedicated to facilitating more efficient and cost-effective NFT interactions.

Developed by the Zora team, the network aims to alleviate the transaction burden on Ethereum by processing NFT transactions off-chain and then publishing these transactions back to the Ethereum blockchain as proof.

In summary, the Zora network provides a gas-friendly L2 that integrates Zora creator tools and is expected to become a major scaling solution for NFTs in the coming years.

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1. How does the Zora network work?

The Zora network utilizes OP Stack technology (the backbone of the Optimism vision) with the goal of creating a network consisting of numerous optimistic rollups.

The Zora network is the first NFT-centered L2 deployed using the OP Stack, enabling Zora to offer fast transactions tailored specifically for NFTs at a cost-effective rate. Transactions are confirmed within seconds, and the cost of minting an NFT is less than $0.5.

2. Current state of the Zora network

As the Zora network is essentially an “application chain,” it focuses on serving the Zora NFT minting and marketplace protocols, as well as the Zora.co platform. This means that, up to this point, the Zora network has not attempted to attract a range of DeFi, NFT, and crypto social projects but instead focuses solely on streamlining and optimizing Zora minting.

Therefore, comparing the data of the Zora network with other general-purpose or DeFi chains would not make sense. However, since its release in June 2023, the NFT activity on this L2 has shown significant prosperity and should not be underestimated.

3. What do you need to use the Zora network?

(1) Wallet – You can easily add the Zora network to your wallet, such as MetaMask, using resources like Chainlist. The Chain ID is 7777777 for reference.

(2) Starter ETH – Just as you need ETH to pay for gas fees on Ethereum, you also need ETH to pay for transactions on the Zora network. If you have ETH on Ethereum, you can bridge some to the Zora network.

4. How to bridge to the Zora network?

If you want to bridge ETH to the Zora network, the native Zora Bridge is a basic starting point. Simply enter the amount of ETH you want to deposit, confirm the transaction on your wallet, and then wait for your ETH to arrive on the Zora network.

Due to the nature of optimistic rollups, it generally takes about 7 days to process withdrawals (not deposits) through this native Zora bridge. If you want faster withdrawal speeds, you can consider using third-party “fast” bridges, but currently, there are not many bridges that support the Zora network. It is recommended to keep an eye on projects like Bungee, as they may add Zora network support in a timely manner.

5. What should you do on the Zora network?

Of course, you should collect and create NFTs! When it comes to collecting, you can easily discover mints on the Zora network by visiting Zora.co. Then, if you have ETH on L2, simply click “Mint” and confirm the transaction with your wallet to start collecting.

Here, I also recommend mint.fund, which automatically displays secure mints and now supports Zora network drops.

As for creating NFTs, on Zora, you can create various types of NFT drops – whether it’s 1/1 collectibles or generative 1/1/X collectibles. The only difference between using the Zora network and using Ethereum is that you need to switch on the “Zora Network” option during the minting setup process. Once the transaction is complete, these are all the steps you need to create your own NFT drop on Zora L2.

Remember: If you publish free mints on the Zora network, you will be eligible to earn ETH through the new Zora protocol rewards system!

6. Conclusion

By focusing on optimizing the NFT experience, Zora has created a unique niche in the marketplace, setting it apart from other general L2 or DeFi-centric L2 solutions. Its integration with the vision of the Optimism superchain further enhances its potential, making it an undeniable choice in the NFT space.

Whether you’re a creator looking to mint cost-effective NFTs or a collector seeking a smoother, faster experience, Zora network offers customizable solutions that are hard to ignore.

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