How 200k people got the fastest growing crypto coin for free ($SOS guide)

Hey guys so we got some interesting news Right before christmas basically every Person who has ever traded on openc Since day one so stretching back about Four years now they all qualified for an Airdrop from a brand new token called Sos the amount you got was calculated Based on how much you spent on openc and The number of transactions and within a Few days more than 75 of the airdrop Tokens were already claimed and the Number of total claimed addresses rose To nearly 300 000 wallets so some people Are calling this a potential rug pull Others are saying you know maybe this is The next shiba or dogecoin we’re gonna Get into all that in this video but the One thing we can all agree on at this Point is that this airdrop has Objectively brought value to a lot of People if you looked at everyone who Claimed their tokens more than 50 Percent of wallets got at least 24 Million sos which right now is valued at About 150 bucks while some collectors Like pranksy received airdrops well into The six figures and even right click Savers received uh It turns out santa does exist and he was Hiding in plain sight this whole time as A penguin dressed in a banana suit this Is the core creator behind the somewhat Mysterious new project called open dao Which launched the sos airdrop so today

We’re going to talk about open dao and Sos and what the ultimate potential here Is you know should you hold should you Sell should you buy even more and should We expect more of these types of Airdrops in the near future and if so How can you stay ahead of all that and Guys we are nearing the end of the tax Year so do not forget to claim your like Button remember these are fully tax Deductible all right now first off just To make sure that we’re all on the same Page if you haven’t claimed your sos Tokens yet just head over to the Opendow.com I’ll throw it in the description below Connect your wallet and follow the Instructions it’s all pretty simple Normally with a brand new contract made By a pseudonymous penguin you probably Don’t want to be connecting your wallet To whatever they’re selling but in this Case the contract has been checked out By multiple people it’s all open source And safe and so you can interact with it Without being afraid that you’re gonna Get hacked or something like that However please do check the url because We already have scammers giving out fake Websites they might even be in the Comments using my name so you know you Gotta stay on your toes in this space And while the contract is safe to Interact with there have been criticisms

About the way that the contract was Structured most importantly the devs can Move unclaimed sos to the dao after the Deadline in june so this is something That could theoretically be abused and You have to take it into account okay so Let’s get into it the first question you Always have to ask yourself when you see A random event like this is why as you May already know one of the key Principles of web 3 is decentralization So the idea that you know the platform And the apps and the protocols they Should be owned by the community and It’s the users that you know should be In charge of the major decisions and They should be able to profit from the Growth of any of the platforms that they Own and one of the most common ways to Do this is to create a token for your Platform and then airdrop that token for Free to a large number of people Preferably people that are already users Of your platform this is in contrast to The typical ownership structure that you Might expect from an internet startup Where you have the team that owns you Know the biggest chunk of equity and Then you have a tiny group of vcs that Own all the rest and by the time these Startups get to the public market where People like you and i can actually Invest in it the vast majority of the Earlier valuation has already been

Captured by those vcs so for example by The time you and i get our first chance To buy coinbase it’s already being Valued at 68 billion dollars so anyways We’re in the middle of this trend where These web3 apps are airdropping their Tokens to users and we recently had the Ens airdrop that distributed 780 million Dollars in tokens to users and we’re Rumored to get one from metamask some Point soon and then you have openc maybe The most valuable company to emerge from The nft space and i’m not gonna lie People have a complicated relationship With open seat and by the way if it Feels like i’m going off track i’m Actually not this is all gonna be Important for understanding the value of Sos you see most people feel that openc Is taking a very web to big tech Approach as opposed to you know other Companies in web3 and the relationship Between openc and its users is very much The same as the typical you know company And customer dynamic that we’re all used To seeing from web 2 companies like Amazon or facebook you know they don’t Really talk to the community much at all They don’t really you know give us Progress reports on upcoming features They don’t take feedback from users Which they should because you know the Platform is still super buggy and They’re missing some key features that

You think they have by now and then There’s the fact that open seas seems to Prefer traditional fundraising models in The summer they raise a hundred million Dollars from those vcs that we talked About earlier and they’re considering Doing an ipo in the future so with all That setting the stage here comes open Dow and the sos token as you’ll see in a Minute part of their mission is to Support the nft community in ways that They feel openc is not doing and this Could even include potentially building A direct competitor to openc except one That’s decentralized and fully owned by The collectors themselves so we’ll get Into the likelihood of all those plans But first let’s just go over the quick Facts of how the token even works here’s What we know sos will have 100 trillion Tokens in total and 50 of this or 50 Trillion tokens are being airdropped to People who have traded nfts on openc and Then 20 will go to staking incentives 20 Will go towards supporting the dow’s Mission which we’ll talk about in a Second and 10 will go towards Encouraging people to add liquidity now Going back to the dow’s mission right What’s the point of all this we can see That the 20 of sos tokens will be used To do things like compensate scam Victims from open openc support emerging Artists nft communities art preservation

And then as a developer grant for Building out the sos ecosystem but that Initial vision is only part of the story Because you also have the community and Whatever they decide to build on sos and The community is the x factor on how big All of this can get if we look back at The ownership chart you might notice Something missing there’s actually no Team allocation and there’s no insider Pre-sale to investors this is truly 100 Owned by the community and even the Original developers didn’t get paid so It’s one of the fairest drops that we’ve Seen and it’ll probably end up being the Largest airdrop of all time when Everybody does claim their ens tokens The other interesting angle here is that We all share a common thread which is Entity collecting so there’s already Some shared values that could help align Everybody when it comes time to build so If we put that all together then one way To think about sos is as a community Primitive in other words it’s a Foundational layer that other people can Build on top of so people can build nft Apps that let you mint nfts using sos They can build decentralized Marketplaces that use fees to burn sos Etc the idea here is that because this Was a fair launch and has wide Distribution somewhat shared interest That this could be the perfect initial

Building block for something great and Because people are buying in and the Price of sos is going up you now have a Treasury that’s becoming more valuable And you can use that to hire people set Up partnerships and things like that now If you’ve been paying attention to the Nft space over the last six months then This might remind you of another project That we actually covered on this channel And i’m referring to the nft collection Called loot this was a project that had A similar idea you know build the Foundational layer and encourage other People to build on top of it and with Loot they also set it up as a fair Launch where anyone could get it for Free well as it turns out getting other People to build valuable things on top Of your project is pretty hard when you Don’t have a team in charge or even a Fully detailed roadmap then people just Start building things aimlessly without Any synergies between their projects and On top of all that most people who Actually hold the tokens are just Speculators that don’t actually Contribute anything other than asking About the floor price now don’t get me Wrong i actually do like the idea that Loot was after and i think it could Still work but we can’t say at this Point that they’ve actually been Successful at building anything with

Real value with all that said let’s take A look at three scenarios for how big This can all get so scenario one is the Bull case scenario where builders Actually build cool things on sos and The crown jewel being a decentralized Alternative to openc this marketplace Would be owned by the dow which would Pay for the team using sos and then the Fees from the marketplace would go back To the dow treasury and so on just last Month openc hit a 10 billion valuation And so if we’re dreaming big and the dow Can you know eat up say 50 of open seas Business that would be 5 billion which Is a 10x from its current fully diluted Valuation of 500 million and that’s just One app right but you could Theoretically have you know many apps Being built on top of sos by different Members in the community and all that Value flows back into the dow okay and Then you have scenario two which is Where people don’t really build anything Of value or even if they do it takes so Long that everyone sort of forgets about It i actually think this is the likely Scenario right now because you know There’s no product there’s no team There’s no actual utility other than Being a governance token this also won’t Be the first dow to use airdrops in this Way and if i know anything about web3 It’s that we’re gonna have at least a

Dozen copycats within the next couple of Weeks and in fact on solana we already Have another project basically doing the Same type of airdrop but using solana Marketplaces instead of openc and some Of these projects might actually improve On the sos idea by you know maybe having A team with an actual good track record Or having a more detailed road map that Everyone can vote on so even though sos Was the first to popularize this they Could easily be overshadowed by some Direct competitor who perfects the idea And then finally we have the meme coin Scenario you know i’ve sat here before And tried to study the fundamentals of a Cryptocurrency but let’s be real you Know you can do all the research you Want you can watch videos like this one You can check the alignment of the Planets but in the end you know Fundamentals aren’t what’s driving the Market in 2021 and they might not be What’s driving it in 2022 and that’s Because we have been stuck in a hype Cycle and the best examples of this Would be the meme coins like shiba and Doge and hear me out on this it’s Possible that tokens like sos are the Next evolution of the memecoin because You basically take something like shiba But then you airdrop it for free to a Large group of people then you give them A treasury that they can own and vote on

Give them some faint mission statement And there you go all the ingredients for The next super hype cyclone but Unfortunately this scenario is just a Gut feeling right you can’t forecast it Or measure it it either happens or it Doesn’t so if we look at all the options Personally i think scenario 2 is the Likeliest and the logical conclusion is That sos just won’t be worth you know Much down the road but perhaps it paved The way for other airdrops to come in And do something truly game changing However i’m not ready to completely Discount the meme coin scenario so let’s Say there’s a five percent chance that This could become as big as sheba that’s A 100 x increase from where we are now And so that might be an asymmetrical bet That i’m willing to take a small risk on So personally i am planning on holding My sos tokens for now and by the way you Have until june to claim yours but i’m Not going to be buying any more off the Secondary market and this is just Because the airdrop wasn’t life-changing Money and it’s okay if i lose at all but I definitely wouldn’t recommend buying Anything more than what you’re willing To lose this is as unproven and risky as Anything can get and on the last note This just shows how people keep getting Rewarded for participating in web 3 and I think in 2022 we’re going to get a ton

Of these air drops and so keep you know Engaging keep participating and playing With the different applications don’t Just stay on the sidelines if you want To see a more detailed guide to air Drops you could watch the video i did on The topic which i’ll put up here that’s It for today guys thanks for watching And i’ll catch you in the next video