The release of Zora’s new native token (ZORA) was supposed to be a triumphant celebration. It is intended to further encourage decentralization and foster grassroots community ownership. Instead, it feels like a gut punch, especially when you consider the potential it squandered to uplift a community often relegated to the sidelines: South Asian creators.

Airdrop: More Like Air-Robbery?

Let's be blunt: the airdrop was a flop. The numbers speak for themselves: a measly $37 average airdrop value? A pathetic 13.35% claim rate? It's insulting. Early adopters are rightfully wronged, and to be honest, they should be furious. The excitement and expectation of your early adoption being rewarded would be electric. Now imagine the frustration of getting tokens so small that they don’t even cover gas fees.

Aside from the understandable, visceral, short-term outrage at the loss of this money, is a much more concerning factor. It wasn’t all just the cash—it was the respect. It was about acknowledging the contributions of a diverse community, including the vibrant and burgeoning creator scene in South Asia.

Tokenomics: Centralization Over Community?

Then there's the token distribution itself. Only 10% for the community airdrop? Seriously? Contrast that to the 65% given to the team, treasury and strategic partners with an immediate 6-month unlock. It screams centralization, not decentralization. On the other hand, it feels like a slap in the face to those who put their faith in Zora’s vow to build a more favorable creator environment.

This isn’t just about Zora — it’s a microcosm of a larger, more systemic problem happening across the entire Web3 space. It’s easy to preach decentralization and community ownership, but instead the same old power structures come through the backdoor. The big winners get bigger, while the smaller creators, particularly those hailing from historically underrepresented areas of the country, are forced to compete over the crumbs.

Think about the potential here. South Asia is an amazing creative place, full of gifted dancers, musicians, writers, filmmakers and such. Yet these inventors often face significant barriers in conventional economies. They face hurdles including lack of access to capital, limited distribution networks, and systemic discrimination. Zora could’ve been a game-changer. It would’ve given creators the tools they need to monetize their work, build a worldwide audience, and go over the proverbial heads of the gatekeepers.

Instead, the airdrop felt like a missed opportunity, a chance to make a real difference squandered on a poorly executed distribution model that favored speculators and large holders.

Financial Literacy: Ignored Opportunity

Bad tokenomics were just the symptom of a much larger disease. Zora’s team neglects to consider the special conditions that creators in emerging markets experience. Most of these Women Creators face barriers such as lower financial literacy and lower access to related resources. A more thoughtful airdrop design could have included educational components. This would further empower creators to understand how to best manage their tokens, take part within the larger Zora ecosystem, and leverage their new assets to build their businesses.

  • Imagine this: A series of workshops, translated into local languages, explaining the basics of cryptocurrency, NFTs, and decentralized finance.
  • Picture this: Partnerships with local organizations to provide mentorship and support to South Asian creators navigating the Web3 landscape.

These features are not merely nice-to-haves. They’re the bare minimum to create a truly inclusive and equitable ecosystem conducive to this new functionality.

It gets worse. The half-heartedness that shrouded the airdrop snapshot in mystery only pours salt in lingering wounds. Undisclosed distribution criteria? That's a recipe for distrust and resentment. It contributes to the growing belief that the system is rigged, that only insider connected folks win.

Echoes of the Past: A Digital Divide?

My role as an urban historian is to recognize the echoes of historical inequality that are always, still, and again, playing out in this digital arena. Access to land and capital has never been equitable. In the same way, the current architecture of power is determining who has access to these new Web3 opportunities. The Zora airdrop in its current form risks exacerbating these inequalities. This would deepen our country’s digital divide, displacing communities already living on the margins even further to the outskirts.

It's time for Zora to listen to the community, to acknowledge its mistakes, and to take concrete steps to rectify the situation. It’s not only about virtue signaling either. We hope to create a sustainable and equitable creator economy that truly benefits creators across the globe.

If only Zora could be the powerful force for good that her potential allows her to be. It protects and empowers creators while ensuring a more inclusive and equitable digital economy. It needs to learn from this fiasco. It must amplify these now overdue voices and pledge to create a genuinely decentralized and community first ecosystem. The world, and more specifically South Asian creators, are waiting.

  • Transparency is key: Publish the airdrop criteria. Explain the rationale behind the distribution model. Be open and honest with the community.
  • Community engagement is essential: Consult with South Asian creators and community leaders. Understand their needs and aspirations. Design programs and initiatives that address their specific challenges.
  • Re-evaluate the tokenomics: Consider increasing the allocation to the community airdrop. Implement a vesting schedule that rewards long-term participation.
  • Invest in financial literacy: Provide educational resources and support to help creators navigate the Web3 landscape.

Zora has the potential to be a force for good, a platform that empowers creators and fosters a more inclusive and equitable digital economy. But it needs to learn from this fiasco, to listen to the forgotten voices, and to commit to building a truly decentralized and community-driven ecosystem. The world, and especially South Asian creators, are watching.