Crypto: Zora Debuts Attention Markets On Solana, Betting On Social Trends

The ZORA token gained 6.2% to $0.022 over the last 24 hours as Zora announced its new attention markets product.

Decentralized SocialFi platform Zora has launched its new attention markets platform on Solana, allowing traders to speculate on which buzzwords, hashtags, trends and topics will go viral online.

“Trade what’s trending. Take positions on any topic, idea, meme, or moment before it breaks,” Zora’s newly launched platform states.

One of Zora’s founders, Jacob Horne, said on Tuesday that it costs 1 Solana (SOL), currently $85, to deploy a “Trend,” aimed at disincentivizing spam. Trends have no creator rewards.

Zora is also enabling “Pairs” to be created under a Trend, which does offer creator rewards.

In a promotional video, Zora referenced the $redlight and $coldplunge pairs under the $longevity trend, as an example.

BREAKING: Zora launches attention markets on SolanaYou can now start markets and take positions on any trending topic, idea, meme, or momentpic.twitter.com/55c8tM5QnB

Traders are already testing the app, with “attentionmarkets,” “longevity,” “cats,” “dogs,” “bitcoin” and “aigirlfriend” among the most-traded tickers so far.

The attention markets platform enables users to trade Trends and Pairs like ordinary tokens, with a dashboard to track user profits and losses in real-time.

The ZORA token responded positively to the announcement, rising 6.2% to $0.022 over the last 24 hours, while the broader crypto market retraced 1.2% over the same timeframe.

Source: CoinTelegraph