Injective Unlocks On-Chain Pre-IPO Access for Firms Like OpenAI

• Injective introduces onchain pre-IPO markets, allowing traders to access private companies like OpenAI with up to 5x leverage.
• Contracts are data-backed by Seda Protocol and Caplight, giving exposure to private valuations without actual equity ownership.

Injective has introduced an on-chain pre-IPO derivatives market that allows anyone to trade the valuations of large private companies before they officially go public.

One of the most eye-catching names is OpenAI, where these contracts can be traded with up to 5x leverage. This move is seen as a breakthrough because it’s the first time exposure to a large private company can be accessed directly through a blockchain network.

Injective Unlocks Trading Access to Private Giants

Unlike publicly traded stocks, which already have open prices, private company valuations are often only accessible to a select group. Through Injective, traders can now take positions on the value of companies like OpenAI without having to wait for an IPO.

Furthermore, the plans don’t stop there. Other private companies such as SpaceX, Anthropic, Perplexity, Monzo, xAI, Revolut, Airtable, and Notion are said to be included in the list of available contracts.

Pricing data for these contracts doesn’t just appear out of nowhere. Injective is partnering with Seda Protocol as a decentralized oracle and Caplight as a private market data provider. Both are tasked with providing a price reference that forms the basis for contract movements.

Apps like Helix Markets are being developed as trading venues, opening access previously available to only a handful of private investors. In the past 30 days, real-world asset derivatives trading volume on this network has exceeded $1 billion.

However, these pre-IPO contracts do not represent share ownership. This means that only derivatives that reflect the reference valuation of a private company are traded.

Furthermore, these products are not accessible to users in the US, UK, or Canada due to regulatory constraints. For those who are able to try them, there are still risks, ranging from uncertain pricing sources to potentially limited liquidity in the early stages.

Expanding DeFi Access From GPUs to XRP Connectivity

On the other hand, CNF previously reported last August that Injective had introduced the first on-chain marketplace for NVIDIA H100 GPU rentals.

The product allows AI developers and DeFi traders to hedge GPU rental fees with hourly price data through a decentralized oracle.

On the other hand, in early July, Injective also successfully integrated the XRPL EVM. This integration opens up opportunities for XRP to seamlessly interact with the EVM-based DeFi ecosystem and Cosmos.

Developers can build DeFi applications using XRP on Injective’s cross-chain infrastructure. Furthermore, this step underscores Injective’s ambition to expand inter-ecosystem connectivity, something highly sought after by both DeFi developers and users.

Meanwhile, as of the writing time, INJ is changing hands at about $12.64, up 6.27% over the last 24 hours, with $1.26 billion in market cap.