- Zora has launched its own attention markets on the Solana blockchain.
- The attention markets let users bet on social media buzz and viral topics.
- This move comes on the heels of Polymarket’s attention market launch.
Zora, a decentralized marketplace built on Coinbase’s Base chain, has announced the launch of “attention markets” on the Solana blockchain. Known previously for its focus on NFTs and Ethereum-based tools, Zora is now letting users trade on online trends, memes, and viral topics.
It is worth noting that the move comes on the heels of a similar move by the prediction market giant Polymarket. This growing trend of launching attention markets signals the shifting sentiment, showcasing how social buzz influences the public.
Solana Users Can Now Bet on Online Buzz Via Zora
Earlier today, Zora introduced a new feature called “attention markets” on the Solana blockchain. This feature allows users to trade tokens based on online trends, social buzz, and trending topics. Traders can buy and sell tokens that track how much attention a topic is getting on social media.
Zora’s launch of attention markets marks a major shift from the traditional prediction markets that focus on politics, sports, or economic events. Unlike them, attention markets allow users to make bets on viral topics, memes, hashtags, or cultural moments. This feature is mainly based on the attention that these events get from the public. In an X post, Solana noted,
“Zora is showing that your cultural intuition is alpha. The world’s attention market, built on Solana, lets you take positions on any topic, idea, meme, or moment before it breaks.”
For example, users can take a position on whether a meme will go viral or if a hashtag will gain popularity over the next few days. The participants can see the market in real time, track how popular the topic is, and buy or sell their positions on how they think the trend will perform. This makes it a fun and interactive game rather than speculating on politics in and sports.
In detail, anyone can start a new “trend” market by paying a fee of 1 SOL. This is intended to prevent any kind of spam on the platform. After a market is created, other users can buy or sell positions and see their profits or losses in real time. Traders can also close their positions anytime. Thus, attention markets give traders complete control over their trades.
In response to the development, the ZORA token has seen a notable surge of 2.31% in a day. Currently trading at $0.02231, the token is up by nearly 8% despite a massive 31% monthly dip.
Polymarket Partners Kaito for Attention Markets
Significantly, Zora’s move follows the launch of attention markets by Polymarket in partnership with Kaito AI. Kaito CEO Yu Hu stated that the new markets provide users with an opportunity to scroll through social media and place bets on what’s trending. Hu noted,
“It’ll be a completely new experience when people can scroll through social media and realize they can express their views on what they are seeing and take a side with it on these markets.”
With the help of Kaito’s artificial intelligence technology, Polymarket can track how much people are talking about a specific topic. It can also understand the mood around the topic. In other words, the platform can see whether the conversation is mostly positive or negative.
