OpenSea CEO Denies Reports of KYC Checks for Potential Airdrop, Promises 'USA Will Be Happy'

Speculation over an OpenSea airdrop has been swirling since December after it registered an entity named OpenSea Foundation in the Cayman Islands.

NFT marketplace OpenSea has refuted claims that users attempting to claim a potential airdrop will be subjected to stringent identification checks, a requirement that was mentioned in the terms and conditions for the airdrop.

"This is all completely false," OpenSea CEO Devin Finzer stated on X, responding to a post that highlighted the terms and conditions on the OpenSea Foundation website.

The terms also stated that users would be prohibited from using VPNs and that users in the U.S. would be ineligible to claim the airdrop. According to Finzer, the page contained "boilerplate language" and was briefly "on a test website."

Since December, there have been rumors of an OpenSea airdrop after the company registered an entity in the Cayman Islands called OpenSea Foundation, which coincided with the launch of a new version of the platform called "OS2."

X user Adam Hollander mentioned having a conversation with the OpenSea boss and noting that "folks in the USA will be happy with the Foundation's actual announcement when they make it," suggesting an airdrop is likely.

Following Finzer's tweets, Polymarket odds on whether OpenSea will airdrop before April surged from 25% to 45%.

Trading volume on OpenSea has plummeted since the last bull run in 2022, when it recorded a peak of $2.7 billion in trading volume in a single day. According to Dune, the total volume for January this year was only $194 million.