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Join Telegram ChannelFollowing Magic Eden's launch of the E token, many NFT traders speculated that OpenSea, a leading NFT marketplace, would finally release its own token and airdrop.
According to Decrypt, three years after the peak of the NFT boom—which saw monthly trading volumes skyrocket to billions of dollars and collections like the Bored Ape Yacht Club gain mainstream attention—NFTs are once again in the spotlight. OpenSea, the dominant player in this space, has recently emerged as a topic of interest.
Will OpenSea Announce Its Token Airdrop Soon
NFT trading volume has reached its highest level in three months, and the recent Magic Eden airdrop has fueled speculation about OpenSea's plans. OpenSea recently posted a cryptic message on X (formerly Twitter), asking its followers:
What does loyalty mean to you?
Many traders interpreted this as a hint about rewarding loyal users—a common metric used for airdrops. OpenSea's competitors, such as Blur and Magic Eden, have already conducted successful airdrops. For example, Magic Eden distributed over $700 million worth of tokens to its users last week. Although OpenSea previously led the NFT sector with a $13.3 billion valuation, this appreciation from competitors has put pressure on the platform to respond.
Establishment of the OpenSea Foundation
Speculation about an OpenSea airdrop is increasing after the OpenSea Foundation was registered in the Cayman Islands. The move caught the attention of traders, as crypto projects often set up foundations as separate entities to facilitate coordination and token distribution.
While creating a foundation does not guarantee a token launch, it is in line with the practice of other crypto organizations that have recently released tokens. For example, Magic Eden distributed its airdrop tokens immediately after launching the ME Foundation.
Adding to the rumors, on December 20, an account called “OpenSea Foundation” posted:
Ocean entered the chat.
This was widely interpreted as a reference to a potential OCEAN token. The account, created in May, only follows the official OpenSea account, further fueling speculation.
OpenSea 2.0 and Rising Expectations
The NFT community has long called for OpenSea to launch its token, with speculation peaking in November when OpenSea announced a waitlist for its redesigned marketplace, OpenSea 2.0.
Devin Finzer, CEO and co-founder of OpenSea, hinted at a new direction for the platform, writing:
“Sometimes, to truly innovate, you need to take a step back and rethink everything.”
Early users of the OpenSea 2.0 beta program have reported new features, fueling further speculation about an airdrop. Although no token details have been officially confirmed, prediction markets such as Polymarket show increasing confidence in the launch of the OpenSea token.
For example, the probability of OpenSea releasing the token before the end of 2024 is now estimated at nearly 60%, a figure that has jumped after the OpenSea Foundation post. The chance of the token launching in April 2025 is even higher, reaching 82%.
Can OpenSea Keep Up With Its Competitors?
With competitors such as Magic Eden and Blur successfully leveraging airdrops to attract user attention and loyalty, OpenSea is under pressure to respond. By registering foundations and teasing users with secret posts, the NFT market may be signaling its move towards launching a token airdrop.
For now, traders and NFT enthusiasts are keeping an eye on OpenSea for further developments, hoping for a token announcement that could reshape the competitive landscape of the NFT market.