Official Token Launch on Base Chain? Base is for Everyone with Market Capitalization Exceeding 20 Million USD.
Recently, the Ethereum Layer 2 Base chain, supported by Coinbase, released an image titled “Base is for everyone” on its official Twitter account, sharing a token of the same name on the Zora platform in the comments section. The token’s market capitalization once reached $17.1 million, but subsequently plummeted by 82% within 15 minutes, bringing its market cap to approximately $15 million before the deadline. Zora is a platform where everything can be tokenized, and the Base chain’s official team later tokenized a poster for an event held in Brooklyn.
Base Chain Issuing Tokens? Official Claims They Are for Collectible Purposes Only
The Base chain’s official Twitter stated “Base is for everyone,” and shared the token of the same name in the comments. The Zora interface for this token reads: “Base belongs to minters, collectors, traders, builders, creators, artists, writers, musicians, dreamers, sports fans, podcasters, travelers, DeFi users, students, and more. When we say everyone, we mean everyone.”
They further clarified that the currency on Zora, as well as future currencies, are not official network or protocol tokens of Base, Coinbase, or any related products. They are created solely for artistic and cultural purposes, serving as collectibles rather than as investment or financial instruments. Please do not expect profits or returns, and there will be no ongoing development or efforts to increase their value. There is a significant risk of losing all invested funds. Purchases should be made purely for entertainment and creative purposes.
As the issuer, Base obtained 10 million tokens from a total supply of 1 billion, and these tokens will never be sold. All generated fees will be used to support builders on Base. The token’s market cap had reached $17.1 million, followed by an 82% crash. However, before the deadline, it bounced back to a high point of $20 million.
Everything Can Be Tokenized? Base Tokenizes Event Posters
The official Twitter later announced that Base will be heading to Brooklyn for FarCon, stating “See you there,” and included a link to Zora. However, the market cap is only $500,000.
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