- Just when you thought you could take a vacation and have the holidays off from the fast and furious NFT world, The Open Dao decides to launch its program of air dropping free $SOS tokens to anyone who ever bought an NFT on OpenSea. Details of the air drop can be found here.
- OK, you like many other people may be asking, Who is the Open Dao? And why are they giving away free tokens to OpenSea buyers of NFTs?
- Great questions!
- OK, first things first, who is the Open Dao? Or, is it, The Open Dao? The Twitter handle is @The_OpenDAO.
- Oh, by the way, a DAO stands decentralized autonomous organization. It’s basically a way to gather people on the Internet to create an organization, agree on a mission for the organization, set up the governing rules for the organization, etc. It’s kind of like a Web3 nonprofit, company, or group. But the people in the group run it. That’s the big change.
- It’s unclear if this Open Dao is the same as the Open Dao that produces the USDO stablecoin. I can’t find anything on the latter’s website connecting them to $SOS. The latter goes by the website domain opendao.io. The former who did the Christmas air drop is: theopendao.com.
- If they are not the same DAO, then talk about consumer confusion! (If you know the right answer, please email us.)
- Next question: why are they giving away free tokens to OpenSea buyers of NFTs? The Open Dao stated: “$SOS is grateful to all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. The token to pay tribute, to protect, to promote…”
- OK, questions answered, right?
- Not exactly. It looks like the Open Dao gave away trillions in $SOS tokens, if not more. Those tokens could be converted into ETH on OpenSea, granted the exchange rate was ridiculously low. But who is paying for $SOS when it used converted or used? Have crypto whales donated to the Open Dao? Or is it funny money?
- Fo example, could we form our own DAO and air drop trillions of tokens to people, assuming our token is approved for exchange?
- Alexis Ohanian, for one, appears to support the $SOS air drop. The Reddit founder said:
