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Following an in a single day surge, OpenDAO’s market cap is at roughly $295 million. 
Christmas simply retains getting higher for the NFT group. 
A brand new mission referred to as OpenDAO launched Friday, bursting onto the scene with a token airdrop for devoted NFT collectors. 
The mission allotted a 50% portion of its SOS token provide to customers of OpenSea, the most important NFT market. The quantity distributed to every consumer was calculated primarily based on the quantity spent on OpenSea and the variety of transactions earlier than a snapshot date. Consequently, a number of the most lively NFT merchants have obtained the most important payouts from the airdrop. Christmas token airdrops like this have turn out to be one thing of a crypto phenomenon in recent times; in 2020, 1inch memorably distributed its 1INCH token to early customers at midnight on Christmas Day. 
OpenDAO’s chosen distribution technique is notable partially due to current developments surrounding OpenSea. As NFTs exploded in recognition in 2021, OpenSea cemented its place because the main market for digital collectibles. OpenSea customers have lengthy hoped that the workforce would launch a token to offer the group possession over the mission. Token airdrops are a typical apply in crypto, and significantly DeFi, amongst tasks seeking to transfer towards decentralization and reward the early adopters that contributed to their success. Nevertheless, regardless of ongoing rumors, OpenSea is but to launch a token. Earlier this month, the corporate employed a brand new CFO from Lyft, Brian Roberts, who revealed in a Bloomberg interview that he wished to work towards taking the corporate public, which might possible rule out any token plans. Roberts later clarified that the corporate “would look to contain the group” in any potential IPO following intense backlash from the NFT group. 
There was inaccurate reporting about @OpenSea‘s plans. Let me set the file straight: there’s a huge hole between desirous about what an IPO may finally seem like & actively planning one. We aren’t planning an IPO, and if we ever did, we might look to contain the group.
— broberts.eth (@BKRoberts) December 8, 2021
Now, curiosity in OpenDAO and its SOS token signifies that the group has an urge for food for a decentralized mission centered on NFTs. Per data from CoinGecko, SOS is up 589% within the final 24 hours. Much like many meme coin tasks that emerged this 12 months, the token has a big provide of 100 trillion, which implies every token is price solely fractions of a cent. At press time, $100 price of USDC buys about 12 million SOS on Uniswap. With the in a single day rise, the mission’s market cap is at roughly $295 million. Etherscan data reveals that SOS has over 130,000 holders, and that quantity may enhance as extra customers begin to declare their airdrops. 
On its website, OpenDAO describes SOS as “the token for the most important NFT group, to pay tribute, to guard, to advertise.” Curiously, it says {that a} 20% allocation of the availability will go towards supporting the group by means of compensating OpenSea rip-off victims, supporting rising artists, NFT communities, and artwork preservation, and organizing a developer grant for the SOS ecosystem. Whereas it’s unclear whether or not OpenDAO will make an enduring impression on the NFT area, for now, it’s generated a major quantity of buzz because of its token giveaway. 
Disclosure: On the time of writing, the creator of this characteristic was eligible for OpenDAO’s SOS airdrop. Additionally they owned ETH, USDC, and several other different cryptocurrencies, and had publicity to UNI in a cryptocurrency index. 
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