Coinbase Base App Rebrand Triggers SocialFi Boom, ZORA Token Soars 440%

Coinbase’s rebranding of its Wallet to the Base App on July 16 has sparked a major surge in the SocialFi sector, propelling activity on Zora (ZORA) to record highs and fueling a massive rally in its token price. The revamped Base App integrates social posting, direct messaging, and one-tap token minting, seamlessly connected with Zora and Farcaster, driving a wave of new users and creators into the ecosystem.

Following the rebrand, Zora’s daily token mints jumped from 4,000 to over 15,000, peaking at 38,000 on July 24, according to Dune Analytics. Trading activity also skyrocketed, with daily trades surging from 30,000 to more than 150,000 and volume climbing past $6 million per day, up from $1 million before the update.

The impact on ZORA’s market performance was dramatic. The token’s price surged 440% in a week, climbing from $0.011 to $0.0615 and boosting its market capitalization from under $50 million to over $200 million, based on CoinMarketCap data. Creator participation also spiked, with over 12,000 unique creators joining and daily payouts soaring from $1,000 to more than $30,000.

Activity on Zora Smart Wallets surged as well, with more than 8,000 wallets active daily during this boom. Analysts view Coinbase’s pivot to SocialFi as a potential catalyst for broader adoption of tokenized social content, positioning Zora as a leading platform in the rapidly growing decentralized social ecosystem.

This rapid rise highlights the growing investor interest in SocialFi projects and the potential for tokenized social interactions to redefine engagement and monetization across Web3 platforms.