The probability of OpenSea's token fully diluted valuation (FDV) exceeding $1 billion on its first day of listing has dropped to 62%, according to Polymarket predictions. The likelihood of the FDV surpassing $2 billion is even lower, at 27%. This comes amid a significant decline in OpenSea's valuation, which was previously pegged at $13.3 billion following a $300 million Series C funding round in January 2022. OpenSea's CMO, Adam Hollander, has indicated that preparations for the Token Generation Event (TGE) are in progress. The OpenSea Foundation plans to consider historical trading volumes and data from the Treasures reward program in its evaluation process.