Bitget closed its preOPAI token subscription event on May 15, 2026, after drawing more than $119 million in commitments from 5,448 users within a four-day window. The final oversubscription rate hit 469%, making it one of 2026's most attention-grabbing AI-themed crypto launches.
Sale Details: 29,082 Tokens at $725 Each
According to exchange data, Bitget offered 29,082 preOPAI tokens at a fixed price of $725 per token. That pricing implied an OpenAI valuation of roughly $898.21 billion. Users could subscribe using USDT or USDGO stablecoins. The subscription window ran from May 12 to May 15 at 08:00 UTC. Token distribution began at 12:00 UTC on May 15, with spot trading starting at 14:00 UTC the same day.
After the listing, Bitget launched a PoolX reward campaign allowing users to lock pre-OpenAI tokens from May 16 to May 21 for a share of a 60-token prize pool. The move extended the platform's push for synthetic real-world asset (RWA) tokens.
What PreOPAI Actually Is — And What It Is Not
PreOPAI is not OpenAI equity. Bitget describes it as a Solana-based synthetic token designed to mirror OpenAI's post-IPO economic performance. The token was structured in partnership with Republic, a regulated investment platform. It trades on Bitget's IPO Prime, a venue for tokenized pre-IPO assets.
Retail users view the token as a low-cost gateway to AI exposure — entry points start near $100, according to Bitget. But holders hold no direct ownership or legal claim to OpenAI. The synthetic structure means pricing may deviate from OpenAI's actual valuation, and regulatory treatment of such tokens remains unclear in many jurisdictions.
Why Traders Piled In: AI Narrative and Huge Revenue Hype
Bitget prominently cited OpenAI's growth metrics: ChatGPT reportedly has 900 million weekly active users and projected 2026 revenue of nearly $30 billion. Those numbers fueled retail appetite for any crypto product tied to the AI boom. AI token narratives have gained significant momentum throughout 2026, with traders seeking digital-asset alternatives to traditional venture capital bets.
Yet risks persist. Synthetic equity tokens face evolving regulatory scrutiny globally. Oversubscription itself can amplify early trading volatility. Investors should remember: preOPAI does not convey equity ownership; its performance depends on arbitrary peg to OpenAI's hypothetical IPO; and liquidity and legal protections are limited. The strong subscription reflects real market demand, but whether the token holds its value after listing remains an open question.