TechFlow News, December 15 — According to Cointelegraph, yesterday Mike Dudas, co-founder of TheBlock, disclosed on social media that OpenSea has registered a foundation in the Cayman Islands. Waleswoosh, an anonymous researcher associated with the Azuki NFT collection, also shared a screenshot confirming OpenSea's registration there. Web3 projects typically establish foundations as a preparatory step toward launching a token, sparking speculation about a potential future token launch and user airdrop.
On November 4, Devin Finzer, co-founder and CEO of OpenSea, announced that the NFT marketplace is planning a comeback, promising a revamped version of OpenSea launching in December. Golem, community manager at Matter Labs, voiced hope that OpenSea would reward its early users, adding that OpenSea now has an opportunity to reverse its current competitive disadvantage in the NFT marketplace. Community members widely speculate that OpenSea may follow competitors like Blur and Magic Eden by issuing a token to incentivize users.
Earlier this year on February 18, OpenSea announced a zero-fee policy in an attempt to win back users lost to competitors such as Blur and Magic Eden.
