David Gokhshtein, the founder of Gokhshtein Media and CEO of PAC Protocol is bullish on OpenDAO’s SOS token. Speaking exclusively to Watcher Guru, Gokhshtein said, “It’s an amazing gift to the entire NFT community and especially those who believe in web3.”
Gokhshtein also called the idea of airdropping SOS tokens during Christmas eve as “genius” and appreciated the concept. ‘”Whoever is behind $SOS is a genius,” he tweeted and followed it up with, “$SOS could be huge if @opensea took it on.”
He also hinted that many other tokens might soon copy OpenDAO’s strategy to be on the news. “I’m waiting for the copycats to start coming out with their own versions of $SOS,” he tweeted.
OpenDAO’s SOS token was a Christmas surprise and was airdropped to wallets that previously transacted on the OpenSea platform. The airdrop was in tandem and equal to the amount users transacted on the platform buying NFTs. Therefore, the more amount users spent on the platform, the more SOS Tokens they received in the airdrop.
The airdrop happened on Christmas eve and OpenDAO turned out to be the Santa Claus of the crypto market.
More than 240,000 wallets received the SOS tokens through the airdrop and crossed the market cap of $200 million overnight. From December 24 to 26, the SOS token spiked +1,000% and rewarded holders with enormous returns. On Boxing Day, the SOS market cap breached the $321 million mark and its social media followers grew tenfold.
However, the newly launched token began dipping on December 27, as many holders pulled out and booked profits.
The crypto market seems to have ended 2021 on a happy note with OpenDAO’s SOS token Christmas surprise. The spotlight was all over SOS token during Christmas and basked in the limelight of the festive season.
SOS Token : The Path Forward
OpenDAO’s SOS token is in its infancy stage and is less than a week old. Not much is expected on the token and its hype seems to be already fizzled out. To come back on the news, the token has to repeat another similar stunt and see a growth in price.
If OpenDAO has big plans for SOS, they need to put it to work immediately to see the desired results. The NFT space is vast and neck-deep in competition and SOS has to come out on top to survive.
It is advised to wait and watch for upcoming updates on the token’s direction and then decide to invest based on the developments. At the time of publishing, OpenDAO’s SOS Token was trading at $0.00000608 and is down -2.4% in the days’ trade.