Zora co-founder Dee Goens is now running the show. The former COO stepped into the CEO role on Wednesday after co-founder Jacob Horne announced his departure from the company he helped build over the past five-plus years.

Horne’s exit caps a period of dramatic transformation at Zora, which has slashed its team to fewer than 10 people, launched a token, and essentially rebuilt its entire product thesis from the ground up.

From NFT darling to skeleton crew

Zora launched around 2020 as a protocol for minting and trading NFTs. The company raised roughly $60 million in total funding, including a $50 million Series C in 2022 that valued it at approximately $600 million.

Zora reoriented around a concept it calls “creator coins” and “content coins.” The idea is straightforward: tokenize individual creator profiles and pieces of content into tradable on-chain assets.