Trusted

OpenSea Teases OCEAN Token Launch From New X Account

2 mins
Updated by Mohammad Shahid
Join our Trading Community on Telegram

In Brief

  • OpenSea hinted at launching a token with the name "OCEAN" through a cryptic post from its new "OpenSea Foundation" account.
  • Community sentiment shifted positively since early December, when a similar teaser was met with criticism and skepticism.
  • Preparations, like registering in the Cayman Islands, indicate a serious approach, boosting optimism for the potential launch.
  • promo

OpenSea teased a possible token launch yet again with a cryptic post on a new social media account. Presumably, the new asset will be named “OCEAN” or a similar phrase.

Although a previous token teaser from early December met a harsh reception, the crypto community seems much more enthusiastic about a possible launch.

OpenSea Foundation Might Launch OCEAN Token

OpenSea, one of the largest NFT marketplaces, teased this possible launch in a peculiar way. It opened the “OpenSea Foundation” account on X in May, but only today made its first post: “Ocean enters the chat.” The firm’s main account acknowledged this hint, and the crypto space has exploded with new hype.

A broad consensus on social media suggests that OCEAN will be the token’s name.

Optimism about a potential OpenSea token launch shifted greatly in a short span of time. In early November, the firm’s CEO discussed plans to launch a new NFT platform, and a possible token barely entered the conversation.

Earlier this month, the company teased a token launch and was met with severe criticism. However, some of the same users changed their tune today.

“OpenSea Foundation just launched (what good timing)! Token to be OCEAN?” said Loopify, a user who made harsh statements like “I will be so surprised if [OpenSea does] a good allocation” and “[OpenSea is] known for having the worst decisions in NFTs” on December 5.

When OpenSea first allegedly teased this token launch, many community members suggested that the firm was preparing for a rug pull. Now, however, crypto enthusiasts are reporting excitement. Polymarket noted that optimism about this token launch has improved dramatically.

Odds of OpenSea Token Announcement
Odds of OpenSea Token Announcement. Source: Polymarket

What could explain this new optimism? For one thing, the company is clearly preparing more legwork. Since the first announcement, it registered the “OpenSea Foundation” in the Cayman Islands. It seems that in some form or another, OpenSea has been planning these moves for months.

Beyond these speculations, the company has shown significant endurance in a terrible NFT market. A year ago, the CEO was open to acquisition deals, and the firm saw its lowest-ever trade volumes soon after.

The platform also received a Wells notice in August. Yet, OpenSea remains in business and is still promising future developments beyond this token launch.

Because this post is so cryptic, a timeline for this launch or any other details are completely unknown. Nonetheless, the crypto community has signaled real excitement for future developments. In this industry, hype like that can quickly translate to material benefits.

Top crypto platforms in the US | February 2025
Uphold Uphold Explore
Coinbase Coinbase Explore
eToro eToro Explore
Moonacy Moonacy Explore
Chain GPT Chain GPT Explore
Top crypto platforms in the US | February 2025
Uphold Uphold Explore
Coinbase Coinbase Explore
eToro eToro Explore
Moonacy Moonacy Explore
Chain GPT Chain GPT Explore
Top crypto platforms in the US | February 2025
Uphold Uphold
Coinbase Coinbase
eToro eToro
Moonacy Moonacy
Chain GPT Chain GPT

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

image-10-1.png
Landon Manning
Landon Manning is a Journalist at BeInCrypto, covering a wide range of topics, including international regulation, blockchain technology, market analysis, and Bitcoin. Previously, Landon spent six years as a writer with Bitcoin Magazine and co-authored a Bitcoin maximalist newsletter with 30,000 subscribers. Landon holds a Bachelor of Arts in Philosophy from Sewanee: The University of the South.
READ FULL BIO
Sponsored
Sponsored