OpenSea Foundation Registered in the Cayman Islands - Everything You Need To Know

OpenSea is trending again after news broke that the OpenSea Foundation was registered in the Cayman Islands earlier this year on 20 August, 2024.

The news went completely viral within the Crypto and NFT space, and many have speculated that OpenSea have plans to launch a token along with a potential airdrop.

This isn’t the first time OpenSea has been in the spotlight in the last few weeks.

Around a month ago, OpenSea announced that they will be launching a new platform in December 2024. Some users were given beta access, and leaked new OpenSea V2 features, one of them being a new competitive rewards system, whilst other features like loyalty rewards hinted towards potential airdrop for OG users.

Significance of the Cayman Islands

The Cayman Islands are well known because businesses that are registered there do not have to pay any corporate or personal income taxes, as well as taxes on any gains and profits from investments.

The registration of the OpenSea Foundation in the Cayman Islands has led many to speculate that this is part of OpenSea’s process of launching a token very soon.

Token/Airdrop Rumours

At this moment in time, OpenSea have not confirmed anything regarding the launch of a token, however that hasn’t stopped traders from taking a chance. 

In the space of 24 hours, Gemesis NFTs saw a 100% increase in floor price, and over 350 ETH worth of volume, with many believing that the NFTs will hold value within the OpenSea ecosystem, and may also be rewarded with an airdrop if OpenSea launch a token.

Others have speculated that Gemesis NFTs could be used as an XP boost in the new leaderboard ranking system that’s set to come on the OpenSea V2 platform, and as mentioned earlier in the article, some believe that the ‘OG rewards’ OpenSea are rumoured to be giving out may have a connection with Gemesis NFTs.

It’s important to remember that OpenSea haven’t confirmed anything regarding a token, airdrop, or any utility for Gemesis NFTs, however they’re still expected to launch OpenSea V2 in December 2024.

To stay updated, follow both OpenSea and Pluid on X.

Disclaimer: The information provided in this article is NOT financial advice and has ONLY been presented for informational and educational purposes.