The last weekend of 2021 in the crypto community was ignited by OpenDAO, and this Christmas in the western world, crypto enthusiasts spent the carnival of SOS airdrops.
On December 24, OpenDAO, a decentralized autonomous organization founded by NFT collector "9x9x9", announced that it will airdrop SOS tokens to trading users of OpenSea, the world's largest NFT trading platform. Users who have previously traded on this platform can receive .
This move is considered to be the resistance of OpenSea users to the planned IPO of the platform: People have contributed a lot of NFT transaction fees to OpenSea, but OpenSea wants to IPO to the traditional capital market? Too unblockchain, too undecentralized.
A token airdrop initiated by an individual or a few people is therefore given "meaning", and emotions are ignited. In addition to receiving airdrops and going online in the secondary market, topics also followed: criticize OpenSea for flattering traditional capital, criticize the legitimacy of OpenDAO airdrops, and even extend to the topic of whether Web 3.0 should belong to the people .
Is OpenDAO really a DAO (Decentralized Autonomous Organization)? Compared with GameFi's Goldsmithing Guild, OpenDAO and SOS are more like a meme coin project driven by emotions. There is a sense of déjà vu that the Shiba Inu (SHIB) community is clamoring to kill DOGE (DogeCoin).
Before there is no real organizational framework, goal building, user and function management tools, OpenDAO is not so DAO, at most it is a symbolic expression in the name of DAO. As discussed by some KOLs, it may allow business entities that exist in the form of companies to rethink the true value of users, especially users in the encrypted world. That part of the value that the business brings.
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OpenDAO counterattacks OpenSea "considering IPO"
"Let's show VCs that they can't own WEB3! Get your SOS on theopendao, 850,000 people are eligible to receive SOS, if you plan to build SOS, quickly apply for an airdrop." On December 24, Twitter called "9x9x9" The user posted the news of the SOS airdrop, and the tweet was full of provocations to venture capital institutions.
"9x9x9" is an NFT collector of the NFT (Non-Fungible Token) community Club721. SOS is the governance token of the OpenDAO project initiated by this collector. It is reported that SOS has issued a total of 100 trillion, of which 50% will be used for airdrops.
With free airdrops and challenging slogans, SOS and OpenDAO became popular in the entire encryption community. According to the OpenDAO official website, the community is grateful to all NFT creators, collectors, and markets for nurturing the entire NFT ecosystem, "Special thanks to OpenSea for its leadership in facilitating NFT transactions. home for airdrops.”
In 2021, the NFT market has become a hot track in the Internet and encryption industry, and OpenSea is the world's largest NFT trading market. In November of this year alone, 1.1 million transactions and nearly 250,000 users achieved a monthly transaction volume of US$2 billion. The platform takes a 2.5 percent fee on each transaction, which means it raked in more than $50 million in 30 days.
But why is the token airdrop related to OpenSea not initiated by the platform itself? This is because OpenSea has not issued tokens, and what angered users in the encryption community is that the platform has a potential IPO tendency. In fact, the platform has not clearly stated that it will not issue tokens. The trouble is, OpenSea's IPO rumors persist.
Since OpenSea's newly appointed chief financial officer, Brian Roberts (Brian Roberts), had a major influence in leading the IPO of the former company Lyft in 2019, users speculated that he is likely to take OpenSea to the market. And in some interviews, Roberts also hinted at the possibility of an IPO. He believes that the company is developing rapidly and going public is "very rational."
The encryption community believes that if OpenSea goes public, it will not issue related tokens. These concerns have exacerbated users' aversion to OpenSea's IPO. They believe that a platform that made its fortune with blockchain and NFT transactions will eventually go to traditional financial markets for financing, which is a betrayal of the encryption community.
Twitter user "Punk_2070" said that it was "too bad to hear that OpenSea was going to sell shares and conduct an IPO." He believed that it was the community, not venture capital, that drove OpenSea's success.
Roberts saw a backlash from users, and on Dec. 7, he began tweeting that reports of OpenSea's planned IPO were "inaccurate," saying, "Let me clarify: There is a difference between thinking about what an IPO might end up looking like and actively planning an IPO." There is a big gap,” he stressed, “We are not planning an IPO, and if we do, we will consider engaging the community.”
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The highest rate of return of SOS exceeds 10 times
As of 23:40 on December 26th, according to data from Dune Analytics, 75% of the SOS airdrop share has been claimed, and 191,704 people have owned the SOS airdrop. This number of users is not far from OpenSea, which has 250,000 users.
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OpenDAO is well-known, issued coins, and created the biggest airdrop carnival in 2021, but as a DAO (Decentralized Autonomous Organization), what does it plan to do next?
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SOS Token Distribution
It seems that the DeFiization of OpenDAO is inevitable, but this is also the most common routine for new crypto token projects.
OpenDAO officials also pointed out that the 20 trillion SOS allocated to OpenDAO will have five major uses, including compensating victims of fraud on OpenSea, supporting emerging NFT artists and their original works, supporting the NFT community, and supporting artwork preservation. And as a reward for developers participating in the SOS ecosystem.
This is a bit like a functional supplement to the OpenSea platform. As for the trading function of OpenSea, OpenDAO has not clearly indicated that it will replace it.
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OpenSea's statement on SOS release
OpenSea's response was very subtle. On the one hand, it affirmed the actions of the community, but the implication also pointed out the security issues of the unofficial currency issuance contract.
This speech also aroused the disgust of many users. Someone asks and threatens, "How do you feel when someone else rewards your users when you are in a rush to further centralize and abandon the ethos of Web3? If you don't give tokens to your users next year, it will be your last year , choose your actions carefully." Some people also said, "You don't give it away, they give it away, and when they get out of the NFT platform, I'd better go to their platform to trade, goodbye!"
Once emotions are aroused, the market tends to go crazy. This is the state that the encrypted asset market has shown many times in the past year. DOGE’s price surge under the order of Tesla founder Musk is an example. Shiba Inu (SHIB) wants to Killing Dogecoin (DOGE) is another confirmation.
At least one fact is that the background of OpenDAO is unknown, and the official Twitter was just created in December this year. Faced with such a project, SOS holders should have a self-awareness, own profits and losses, and take risks at their own risk.
Some netizens also questioned the security of OpenDAO on Twitter. nftllama.eth, the founder of the NFT community Llamaverse, reminded that it is best to do research and take risks. He pointed out that OpenDAO is participated by "9x9x9" and a large number of other people, but don't just listen to the remarks of an Internet celebrity.
In addition, OpenDAO issued tokens in the name of opposing the OpenSea IPO, and there are promises to supplement platform functions in future plans. It is like issuing a token for OpenSea. The legitimacy of this behavior is also questionable.
Beanie, the founder of PUNKS Comic, said that people's pursuit of SOS is "unreasonable"; Osf, the co-founder of Canary Collection, tweeted to ask, "Is SOS legal? I am highly skeptical about the claim of random airdrop tokens." , and you should too, I hope that no one will randomly participate in an airdrop without a background check."
Some people have discovered that although "9x9x9" said that it will spend 100 million US dollars to support the construction of the SOS community, there seems to be malicious attacks in the community. Some hackers have begun to use robots to send spam with malicious links to the Discord server to participate in the OpenDAO project airdrop Users who click on these links are likely to suffer the risk of fund theft.
