OpenSea Token Launch Rumors: Revival Strategy or Scam?
open sea After a vague post on the company’s X account, users wondered if a coin launch was possible. Community opinion is divided on whether such a release will help spark interest or be the ultimate rallying cry.
trading volume NFT market It has slowed to a crawl and may face legal action from the Securities and Exchange Commission.
OpenSea Token Launch: Misleading or Fraudulent?
today, NFT Market OpenSea release“So…how long have you been using OpenSea?” on its official X account. Community responses immediately began speculating that this could lead to a token issuance. this Markets hit 3-year low In April, it seems that the best time to launch has passed:
a few stand out Commentator on the NFT space Question OpenSea’s intentions and motives. For example, user Loopify, the founder of a web3 project, claim The company is “known for making some of the worst decisions in the NFT space.” He also claimed that a botched launch would destroy any remaining community goodwill. This is especially true for Taran Sabharwal, founder and CEO of STIX blunt:
“There are rumors that your founding team has exited via a secondary sale. Your core employees are leaving because you won’t be launching the token in 2021. Launch it now and see the whole (crypto Twitter) thing going on with you Body dump. Please make it a free event for everyone, this is a final farewell to OpenSea,” said Sabharwal.
In other words, he suggested that the remaining OpenSea teams are trying to get one last round of publicity before the finals carpet pull, similar accusations Challenges Ren Protocol faced last month.
Another similarity between the two is that in early November, OpenSea makes unclear promises Regarding the launch of the 2.0 platform in December. The company has not released further details since then.
On the other hand, some community members dismissed the idea that OpenSea was planning a covert operation. For example, cryptocurrency marketer Danny Dope explain“The company is definitely not going uphill,” but the launch of the token will reignite interest.
“Opensea has an opportunity to make an absolutely great model chess move in terms of valuing old volume. I just think they need a huge USP to attract people to do volume there, not just UI improvements, which of course is valuable ” Popular NFT collector Rahim Mahtab wrote on X.
Whatever the company’s motivations, there’s no denying that it’s in a difficult position. Earlier this year, the U.S. Securities and Exchange Commission (SEC) issued one Notification from Wells to OpenSea. even though The next SEC chairman will be more friendly to the crypto industrywhich won’t necessarily help the troubled NFT market. Between the waning interest and legal troubles, it’s clear why so many critics expected the ending.
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