Zora NFT is a universal media registry protocol.
It is a platform for creators to share their work, earn money from it, and have others build and share it with them.
The main Zora product is a market that allows creators and artists to launch products and subsequently benefit from the secondary market value. Creators can put a perpetual ownership stake in their work and get paid when it sells.
Zora is an Ethereum blockchain system that creates universal, eternal markets for media in the form of ERC-721 tokens. It is a place to buy, sell and trade limited-edition goods in the form of Non-Fungible Tokens (NFTs).
Buy-side is the side of the financial market that buys and invests large portions of securities for the purpose of money or fund management. Sell-side refers to the part of the financial industry that is involved in the creation, promotion, and sale of stocks, bonds, foreign exchange, and other financial instruments.
Bids are used to represent buy-side liquidity for a piece of media in this protocol. A bid is distinguished by the fact that it specifies an ERC-20 currency in which to bid.
Similar to a bid, the ask must specify a valid ERC-20 currency that is being asked for. Only if a bid meets all of the given requirements will an ask be fulfilled.
A Non-Fungible Token (NFT) is an indivisible and unique cryptocurrency token. There is no way to replace one NFT with another, and the entire system cannot be disassembled and used individually.
When an NFT is created, its ID is registered on the Ethereum blockchain and acts as its identifier, facilitating users to view and validate its history (ownership/creator/price) without the participation of a third party.