BASE CONTENT GAMES

TOKEN DYNAMICS

• base official account post on zora auto-generated token reached $17m mcap

• token crashed 95% in minutes before recovering to $12m

• three wallets bought pre-announcement and extracted $750k profit

• single address converted $1.5k into $265k

COINBASE STANCE

• official statement distances from token: "not an official base token"

• base did not sell or authorize token

• timing noteworthy: weeks after sec dropped coinbase case

• raises questions on content tokens vs securities classification

CONTENT TOKEN MECHANICS

• zora platform enables automatic token creation from posts

• base post tokenization occurred without explicit intent

• system allows instant liquidity for any content

• no preventive measures in place for pre-launch accumulation

MARKET IMPACT

• immediate price volatility shows content token reflexivity

• token recovered significant value post-crash

• demonstrates automated market making limitations

• exposes gap between content value and token mechanics