According to Techub News, the on-chain detective ZachXBT responded to the matter of "deploying ERC-20z tokens on Base" and said: "Zora's user interface does not currently inform creators that ERC 20 tokens will be launched at the end of the open version of NFT minting. If people continue to hype, I will dilute by minting more tokens and may take other actions, such as replacing the artwork on Zora with blank images." ZachXBT said that he never intended to let people speculate on the investigation, but just wanted a free digital collectible that can be permanently archived on the blockchain.
Previously, notzachxbt, a community spontaneously formed about the token, posted that ZachXBT deployed an ERC-20 z token on Base on August 19, and Zora users purchased the token on the secondary market, causing the price to rise.