NFT platform OpenSea has sparked speculation about the possibility of a token airdrop after it registered an organization called OpenSea Foundation in the Cayman Islands.
One of the prominent researchers in the Azuki community, pseudonymous Waleswoosh, shared OpenSea’s incorporation documents on the X platform. This development has sparked discussions that OpenSea is preparing to launch its own token in a more crypto-friendly jurisdiction than the United States.
Users have begun speculating that OpenSea is preparing for a potential airdrop. A special dashboard built on Dune Analytics allows OpenSea users to analyze their past activity to estimate the potential airdrop value. However, the platform has so far refrained from making any announcements about its tokenization plans.
With the 2022 NFT bull season reaching its peak, OpenSea achieved a huge success in May with a trading volume of $2.7 billion in a single day. During that period, the company raised $300 million in funding and reached a valuation of $13 billion. However, with the rapid rise of rival platform Blur and the general market decline, OpenSea lost a significant portion of its market share.
OpenSea plans to launch its OpenSea 2.0 platform this month to re-establish its position in the market. The company announced that over 1 million unique wallets have signed up to its waiting list so far. This innovation could be a significant step towards OpenSea’s return to leadership.