OpenSea: Everything You Need to Know About the Token Airdrop Speculation
The post OpenSea: Everything You Need to Know About the Token Airdrop Speculation appeared on BitcoinEthereumNews.com.
Three years after a peak NFT mania that drove monthly trading volume to billions of dollars and put the Bored Ape Yacht Club on The Tonight Show, the collectible tokens are once more gaining steam—and so is popular NFT marketplace OpenSea. NFT trading volume recently hit a three-month high, and after marketplace competitor Magic Eden concluded its own ME airdrop, speculation is heating up about a potential OpenSea token. The marketplace may or may not be teasing it, recently asking X (formerly Twitter) followers “How long have you been using OpenSea?” Many traders took it as a cheeky nod to user loyalty, typically a key metric used by platforms determining token airdrop allocations. so… how long have you been using OpenSea? — OpenSea (@opensea) December 5, 2024 The firm’s biggest competitors, Blur and Magic Eden, have both completed airdrops to their respective users, with the latter airdropping more than $700 million to users a week ago. OpenSea once led the NFT world after raising funds at a $13.3 billion valuation in 2022, but has fallen sharply since as newer challengers have taken over. Here’s everything we know about the chances of an OpenSea token and speculation surrounding the event. OpenSea Foundation emerges The largest piece of speculation about a potential OpenSea token airdrop comes from a recent filing in the Cayman Islands for an “OpenSea Foundation.” The filing sparked immediate intrigue among crypto participants, highlighted by a post from pseudonymous crypto personality Wale.Swoosh which garnered more than 1.4 million impressions on X. Oftentimes, crypto organizations will create a foundation as a separate entity from its more established and consumer facing brand. Historically, these foundations then become the organizing bodies that communicate and facilitate token airdrops. Although registering a foundation does not guarantee that a token will follow, other organizations that…
