OpenSea has established a foundation in the Cayman Islands, sparking speculation about a potential token issuance. The registration, revealed by Mike Dudas, suggests OpenSea may be leveraging the jurisdiction's crypto-friendly policies. Industry observers believe this move could position OpenSea to issue a token, potentially boosting its competitive edge in the NFT market. The Cayman Islands' recent regulatory updates make it an attractive location for crypto businesses. Meanwhile, community members hope for an airdrop that rewards early adopters, especially from the NFT market's peak in 2021 and early 2022. This development comes as OpenSea faces challenges, including declining trading volumes and regulatory pressures. #OpenSea #NFT #Crypto #TokenIssuance #CaymanIslands