Dee Goens, a co-founder and former COO, has assumed the role of CEO at Zora. He replaces Jacob Horne, who stepped down after more than five years with the company. This leadership change follows a significant restructuring of the business.
The company has undergone a major pivot, shifting its focus from an NFT protocol to a platform for creator and content coins. This new direction aims to tokenize individual profiles and content pieces into tradable on-chain assets within the SocialFi sector.
Zora has significantly reduced its workforce to fewer than 10 employees. This downsizing coincides with the launch of the ZORA token, which has a total supply of 10 billion units. The token launch occurred on April 23 alongside the management transition.
Historically, Zora raised approximately $60 million in total funding. This included a $50 million Series C round in 2022 that brought the company's valuation to roughly $600 million. The platform previously reported millions of weekly users.