Crowdfunding NFTs with Zora

0xCC65
January 23rd, 2021

Zora is about to launch their new protocol, which aims to improve on the ERC721 token standard. One of its new features is the coupling of a market contract to an NFT. This means that every zNFT (Zora NFT) has a canonical marketplace for trading. This solves the problem of fragmented liquidity for the trading of NFTs.

By "fragmented liquidity", I'm referring to the problem where there isn't a single, logical place to go to buy an NFT (e.g. digital art), and so trading happens in a number of different storefronts. This leads to a number of inefficiencies! If everyone were just trading in the same marketplace, then you could deploy a single contract for each NFT type, and have everyone trade on very efficient layer-2s, and have it all conform to the same metadata standards.

We (the team at Mirror) proposed to Zora that we build a crowdfunding contract for NFTs, and integration with their protocol. I wrote up a prototype smart contract for this purpose, which you can view here.

The flow is summarized in the following diagram, and I also walked through the contract on today's livestream on YouTube (link).

Crowdfunding an NFT
Crowdfunding an NFT
Arweave TX
lFaYYX2tbTrhtq1H9pbbshnA5D2b5io0Ppk1-Oh2iCs
Ethereum Address
0xCC65fA278B917042822538c44ba10AD646824026
Content Digest
ZEnTCzTv3QJ5gcRy9Eh6bgOcVp3_mD4sSC_vZqGcSqM