OpenDAO's Hostile Airdrop

A story about how a group created a clever crypto marketing campaign by airdropping tokens to OpenSea's users.

"Let me tell you about this genius thing that happened. OpenSea is basically eBay for NFTs, but they don't do some things that crypto people like - they're not fully open source, they don't have a token, and they raised money from traditional VCs which is seen as selling out in the crypto world.

Their CFO went on a show and mentioned they might go public. The users got upset because they felt they wouldn't benefit from this despite building OpenSea into the most popular NFT marketplace.

So this group, led by someone with the handle '9x9x9x', created something called the OpenDAO. They created a token called SOS and minted 100 trillion tokens. They did an airdrop to all OpenSea users based on how much they'd used the platform. They could do this because all the transaction data is public on the Ethereum blockchain.

They distributed 50% to the users, 40% to stakers and liquidity pools, and kept 20% in their treasury. I woke up and had 58 billion tokens worth about $300-500 because I don't use OpenSea much. But heavy users got $3,000-$15,000 worth.

The genius part is they're using this as a marketing move to build an open-source competitor to OpenSea. They now have $130 million in their treasury to pay developers to build it. It's like a hostile takeover through marketing, and it's something that's only possible in the crypto world because users can easily take their assets and move to another platform."