We were fortunate to catch up with The OpenDAO, who took the time to answer our 10 burning questions and reveal to us their ambitious plans. You can read the full interview below, but first, let’s revisit their story so far – it’s quite the tale and continues to captivate the world of Web3.
It began with an unprecedented airdrop – a dramatic entrance to the NFT trading community.
The OpenDAO’s SOS token was distributed to hundreds of thousands of Opensea traders as a ‘reward’ for their trading activity, with no affiliation to Opensea.
As a DAO (Decentralized Autonomous Organization), The OpenDAO is a community-run organization, whose mission is ‘leveling the playing field for both creators and collectors.’
The airdrop means that anyone who has bought, sold, or listed anything on Opensea before December 23, 2021, is eligible to receive The OpenDAO SOS tokens.
The amount of tokens depends on the amount of ETH, DAI, and USDC transacted and the total number of transactions. The distribution period ends on June 30th, 2022 and all unclaimed tokens will go back to The OpenDAO treasury.
Furthermore, the OpenDAO used the transparency of the blockchain to announce themselves to the biggest NFT trading community and make a statement – an act of apparent benevolence to the community. The consequences?
The OpenDAO became a hot topic among crypto traders and the SOS token quickly rode a wave of hype, spiked on the exchange, and has sharply declined since – although as our interview reveals, there are big things in the pipeline which could shake the market once more.
Then came the game-changing land purchase. The OpenDAO, with quite a taste for BIG statements, bought the largest and most expensive plot of land ever purchased in the metaverse. They paid $5 million for their space in the exciting new interactive RPG ‘Big Time‘ making them the largest virtual landowners in the metaverse.
Their mission statement clearly states that the SOS token is the “token of the metaverse” and this bullish act would suggest that The OpenDAO is here to stay.
There are now well over 200k owners of the SOS token, making The OpenDAO the biggest DAO in Web3 and it will be fascinating to see how this story transpires.
Commanding a following of over 150k on Twitter, The OpenDAO is constantly engaging their community with SOS token giveaways, and updates on their Discord channel suggest expansion is firmly in their plans.
With lingering questions about their roadmap and the utility of the SOS token, we’re grateful that The OpenDAO took the time to talk to us and answer our 10 burning questions.
Interview with True Texture (Active Contributor)
What is the story behind the emergence of The OpenDao?
When Opensea announced its IPO, our core contributors decided to take the opportunity to create new models in Web3 as Opensea’s trading volume had increased.
What can you tell us about the people who started The OpenDAO?
Although our founders want to remain humble and anonymous, they were in Web2 and Web3 for a long time. Our Multi-signers are listed here https://www.theopendao.com/#/ and part of our team is listed here: https://medium.com/@theopendao/the-opendao-milestone-report-february-2022-6c9604984c3f ( under “New Recruits”).
Why did The OpenDAO come into existence?
We wanted to provide a stable infrastructure for Web3 in order to improve the community.
What are the main functions of The OpenDAO?
Improving web3 – for instance at the beginning of February we birthed ‘721starter’. It solves all the current pain points around launching large NFT collections, notably the discord whitelist (WL) grinding and gas wars. It’s an evolution of the whitelist system towards a more autonomous, transparent, and decentralized approach by integrating Chainlink VRF technology-based raffle that guarantees fairness and randomness.
Could you elaborate on SOS being the “token of the metaverse”? What plans do you have for the SOS Token?
It’s the token we use, but it’s a token for the people by the people, we built the infrastructure to use, no discounts, no team, invested our money.
Could you explain what happened when you rewarded traders on Opensea with your SOS token?
It ignited a bull run, haha. It was like Christmas for traders. The community was very grateful.
What was the purpose of this act of benevolence?
Simply reward the community for the value they provide. We also wanted to provide an airdrop they would not get from Opensea.
How about your record-breaking plot of land in Big Time, what brought this about? What does your plot of land in Big Time represent/signify?
Biggest space* – We are creating a gaming sub-DAO (you heard it here first). Expanding our horizons. We noticed there are 2.5 billion players in gaming. The gaming market is 176 billion estimated to grow to a trillion-dollar market. It leads above every single media category including television. It was simply the smart choice.
What unique aspects does The OpenDAO bring to the crypto and Web3 community?
We are the biggest DAO in Web3 – 200k holders. We reward our community just because we want to. All our products and future are solution-based to Web3.
What exciting plans can you announce for The OpenDAO in the near future?
Exciting plans that we can unveil? We have a new gaming extension coming. Continuing to build pioneering projects in Web3 that no one is going to do. For instance, we are offloading an NFT Marketplace with ZERO TRANSACTION FEES.
We thank The OpenDAO for their time and look forward to seeing how their project develops, and we’re especially intrigued to see how their plot of land in Big Time is used to further strengthen their growing community.