What is an airdrop of cryptocurrency (crypto assets)?

Table of Contents

What is an Airdrop?

An airdrop campaign is a promotional activity in which blockchain-based startups distribute crypto assets for free. For example, when a new crypto asset is launched, an airdrop campaign distributes it to many people for free.

Why do they do Airdrops?

1.To attract attention
When startups launch a new crypto asset or project, they need to make many people aware of it. By conducting an airdrop, people who receive the crypto asset become interested in the project and talk about it. This can increase the project's visibility.

2.To increase users
By having many people own the crypto asset, the number of people using it increases. An increase in users allows for more developers and improves the liquidity of funds, which can enhance the potential value of the crypto asset.

3.To build a community
Distributing crypto assets through airdrops makes it easier for recipients to form a community (group). The existence of a community facilitates project development through increased developers, bug reporting, and so on.

  1. To enhance decentralization
    If only a few people hold a large amount of a crypto asset, the price becomes unstable. By distributing the crypto asset to many people, more people become involved, which stabilizes the price.

5.To meet exchange listing criteria
Projects with a large user base and a mature community are more likely to be listed on exchanges. Being listed on an exchange increases trust from users, improves trading convenience, and potentially leads to further user acquisition.

Summary

Airdrop campaigns are conducted to increase project awareness, increase users, build communities, and stabilize prices. They are easy for beginners to participate in and provide a good opportunity to experience the world of crypto assets.

Airdrop Acquisition Process

  1. Find a project
  2. Choose how to participate (Games, Points, Promotion, Asset Deposit, Trading)
  3. Engage in activities within the airdrop period to qualify
  4. Receive tokens or NFTs based on earned airdrop qualifications
  5. Cash out tokens or NFTs

What do you actually do in an Airdrop?

In airdrop activities, you earn rewards by using crypto asset services, playing games, or answering questionnaires. There are many types of activities, such as those requiring only questionnaires, those involving actual transfers and transactions, and those requiring crypto asset deposits, so you can find an airdrop activity that suits your style.

Activities that can be done with just clicks and logins (Example: Galxe)

Many projects on Galxe offer airdrop campaigns that can be easily joined with free clicks.
Task contents include following and retweeting on social media, joining Discord, and answering quizzes, allowing anyone to qualify for a lottery.

Among them, an NFT called GoPlus, which was worth $700,000 at the time of distribution, was also distributed.

Gameplay (Example: Mavic)

In Mavia's airdrop campaign, tokens were distributed to those who:

  • Completed the in-game tutorial
  • Connected their wallet and Google account Aside from distributions based on gameplay content and time, there was a distribution worth approximately $60.

This was one of the easiest airdrop campaigns I've ever seen.

Trading (Example: Arbitrum)

Arbitrum airdropped to platform users based on the following token distribution:

Airdrop eligibility criteria

  • Transaction date and time
  • Duration
  • Number of transactions
  • Total transaction amount
  • Bridging assets to Arbitrum One

Users who completed three or more of the above items and earned points were eligible for the airdrop, receiving tokens worth approximately $2,000.

Contributing to the project (Goldfinch)

Goldfinch rewarded those who contributed to the project. The airdrop campaign "Flight Academy" listed the following as qualifying contributions:

  • Information dissemination: Spreading information about the project
  • Answering questions: Responding to questions from the community
  • Document creation: Analyzing and translating necessary documents and information
  • Proposals: Suggesting improvements and new ideas
  • Testing: Answering tests to learn about bonds and Goldfinch

Among the above tasks, the tests seemed to be a unique type, requiring specialized knowledge and representing a higher level of difficulty.

Summary

Airdrop campaigns mainly involve:

  • Using the project
  • Community
  • Contributing to the project

In addition to the tasks above, there are various other tasks such as dissemination tasks on social media using point distribution platforms like Galxe and Zealy, and daily logins to Discord.

Find your preferred airdrop style and enjoy airdrops! 😊

Finding Projects

For the latest 2024 airdrop list and a list of past projects, see here:

For an active information exchange community, see here:

Disclaimer

  • This article is created for informational purposes only and should not be used to solicit the sale, purchase, or underwriting of cryptocurrencies, securities, or other financial products, nor should it be considered an invitation to engage in such transactions, or constitute financial or investment advice.
  • The information and opinions in this article are obtained from sources that we believe to be reliable, but we do not guarantee their accuracy, completeness, suitability, timeliness, or truthfulness.
  • We, the authors, and all related parties are not responsible for any damage or loss caused by or related to the information published in this article. Cryptocurrencies involve hacking and other risks, so please conduct thorough research before using them.