The airdrop trend became especially prevalent in the early 2010s. It would-be trolls found the potential of sending uninvited images to easy passersby. Nowadays, in the technology world, a similar tactic is used to drum up excitement around recently launched cryptocurrency projects and create platform awareness, typically known as a crypto Airdrop.
Quick Answer: What is a Crypto Airdrop?
Crypto Airdrop is a marketing technique in which Web3 startups instantly deposit digital tokens into the wallets of active blockchain community members as gifts.
Crypto Airdrop:
A crypto airdrop is a marketing process. Also, It is used by blockchain-based projects that are interested in mass broadcasting free tokens as part of a wider promotional industry. It is done as a direct stake in a user’s crypto wallet.
Moreover, they are generally promoted on the company’s website, social media, and cryptocurrency forums. In this technique, Coins or tokens are sent only to specific wallets based on the blockchain network or coins held in existing wallets.
To be eligible for a free gift, they may need to perform a certain task, such as:
- Posting about the currency on a social media forum
- Connecting with a particular member of a blockchain project
- Writing a blog post.
- Alternatively, the recipient may be required to maintain a minimum amount of crypto coins in their wallet.
Types of Crypto Airdrops
Crypto projects vary in their preferred choice of airdrop depending on their end goal. Some organizations may implement this promotional tool to bring the community together after a hard fork in the network. Also, other companies will focus on making first-time users feel taken care of.
Standard Airdrop
In a standard crypto airdrop, the parties interested in receiving the airdrop simply express their interest in receiving the airdrop. In addition, The individual must provide a valid wallet address. Also, some airdrops do not require any additional information other than this.
In addition, it often has a certain amount of tokens to distribute, with a limit on the number of tokens each person can receive.
Bounty Airdrop
Bounty crypto airdrops happen when users complete specific tasks. These assignments usually involve raising awareness of a project through a variety of channels.
Holder Airdrop
Holder airdrops require participants to have a certain amount of existing coins or tokens in their wallets to qualify for tokens. In addition,the amount of tokens received may rely on the amount and duration of existing coins or tokens.
Exclusive Airdrop
Exclusive Airdrop needs participants to be selected or invited by the project team or partners to receive the tokens. Moreover, the selection standards may depend on reputation, influence, expertise, contribution, etc.
Raffle Airdrop
This type of airdrop is an airdrop campaign that has an additional lottery mechanism to randomize winners and limit recipients to a certain number of wallets. It makes it easier for the project to manage expectations while ensuring the campaign is worthwhile for participants.
