OpenDAO is a decentralized autonomous organization (DAO) governed by holders of SOS. The token was airdropped to all addresses which transacted on OpenSea proportional to their number of transactions and volume. OpenDAO's mission is to promote and give back to the non-fungible token (NFT) community by funding innovative NFT-related projects, reimbursing scam victims, and educating the broader community on NFT technology.
OpenDAO was founded on the 23rd of December 2021 by 9x9x9eth with a purpose of supporting the NFT community. It's token, SOS, was airdropped to all addresses which transacted on OpenSea proportional to their transaction count and volume. OpenSea's userbase was chosen as the recepients of the airdrop as a tribute to OpenSea's leadership in promoting NFT trading. A total of 305,883 addresses claimed 84% of the SOS airdrop before the SOSIP-3 governance proposal closed the claim window earlier than was planned initially.
On January 19, 2022, OpenDAO launched SOSMarket, an NFT Prediction Market on Ethereum powered by the Polkamarkets Protocol. Using SOSMarket, users can make predictions on aspects of the NFT market, such as collection floor prices or events taking place before a certain time. Anyone can start a market if they hold at least 100 million SOS and can provide some ETH as initial liquidity.
On February 3, 2022, OpenDAO launched 721Starter, an NFT launchpad which allows SOS stakers to gain access to exclusive whitelist raffles in the most sought after projects of the NFT space.
The OpenDAO team is actively working on several projects and partnerships, including P2E games, a virtual art gallery, an escrow NFT marketplace, and SOSChain. Mintstarter will be a project launchpad for top tier NFT projects. Participation will require staking a significant amount of SOS. SOSChain will be an NFT-specific blockchain with near-zero transaction fees.