Bitget OpenAI Pre-token (preOPAI) Subscription Ends: Oversubscribed by 4.7 Times, Valuation Nearing $900 Billion

BlockBeats News, May 15, EmberCN revealed that the subscription for the OpenAI pre-market stock token (preOPAI) on the Bitget platform has ended. It has now entered the token distribution phase and is scheduled to start trading at 22:00 on the same evening.

The data shows that the subscription price for this round of preOPAI was $725 per share, corresponding to an OpenAI valuation of approximately $898.2 billion. This subscription round attracted over 5400 participants, who invested about $120 million, with an actual sales volume of around $21.08 million, resulting in an overall oversubscription of 4.7 times. Compared to the 1.9 times oversubscription of the preSPAX token for SpaceX in the previous round, the current heat around OpenAI-related products is significantly higher.

Bitget's IPO Prime project obtained underlying stock shares through the compliant issuance platform Republic and claimed that they can be 1:1 corresponding to the equity of the target company's stock, rather than purely synthetic assets. In addition, this round of preOPAI adopts a phased unlocking mechanism, with 30% released on May 15, 30% on June 15, and 40% on July 15 to reduce the price volatility caused by a one-time sell-off pressure.

This mechanism enhances liquidity management while also extending the investment exit period. Overall, this product provides cryptocurrency market users with a "pre-IPO investment channel" to participate in pre-listed tech giants such as OpenAI and SpaceX.