What is an Airdrop in Crypto And It’s Importance
An Airdrop is an event where a crypto project distributes free crypto tokens to a specific group of users within the project’s community based on eligibility criteria during pre-launch during launch or post-launch. According to Charlie Defi, these tokens can range from a few cents to thousands of dollars. They are often used as a marketing strategy to either
•Promote a new project: By giving away tokens, the project can generate interest and attract new users.
•Reward existing users: This can build a stronger community and incentivize users to continue using the project.
An example of a successful airdrop was the just concluded Notcoin Airdrop which saw many Nigerians earning money from their participation in the Notcoin ecosystem. A crypto user can earn thousands of dollars worth of crypto for free by participating in a crypto project and meeting the eligibility criteria. The act of seeking potential Airdrop campaigns to join or joining multiple projects that are likely to carry out an Airdrop campaign is called Airdrop Farming. We are now going to look at that too.
Airdrop farming is the act of actively seeking out airdrops in a bid to get as many free tokens as possible. This might involve
•Looking for new projects: People who farm airdrops try to find new projects that might give out tokens in the future.
•Doing tasks: Sometimes, airdrops require users to do things like following the project on social media or joining their online groups.
•Using multiple wallets: This is a strategy where people create several wallets to try and get more airdrops, but it’s not well-liked by many and might go against the project’s rules.
The importance of airdrop is simply to widen the number of investors in a particular crypto project. It’s simply a way crypto project owners giving back to invest by saying thanks for believing in us.
