Airdrops are a marketing method employed by blockchain-based firms in the cryptocurrency space to encourage users to use their platform. Promoting a new virtual currency entails giving users free coins or tokens with open-source crypto wallets.
Most of the time, airdrops are part of a more comprehensive marketing strategy that includes blog posts, social media advertising, and other levels of crypto holder participation. Sometimes, airdrops are utilized as a front for illegal activity. Users must take precautions as a result. Because they are intended to be promotional tools, projects that are looking for funding should be on your radar.
Initial coin offerings (ICO) were all the buzz in 2017, and many cryptocurrency projects are still using them as a marketing tactic today.
The coins or tokens are distributed only to existing owners of cryptocurrency wallets, and airdrops are typically advertised on the firm’s website and cryptocurrency forums. Therefore, recipients might need a minimum number of cryptocurrency coins in their wallets to be eligible for the free gift.
