Marketing strategies change as per the industry and its dynamics. Since the advent of crypto, the world has seen many new and unique gimmicks. The most notable of them is a crypto airdrop.
In an airdrop campaign, a new project sends its native token to different crypto users. Either they are free or they ask for small favors like a promotional post about the project from recipients. The emergence of ICO gave rise to far and wide usage of crypto airdrops too. So, let’s dig into this crypto marketing strategy and see how it impacts the space.
Nitty-Gritty of Crypto Airdrops
Investors like to foster an assorted portfolio with different valuable instruments.
Thus, they don’t let go of a chance to acquire some free tokens. They’re new assets and don’t command much worth in the markets but the project may have a strong potential to perform in the future. Thus, they like the freebies and consequently, airdrops. On the other hand, they become a perfect springboard for blockchain-based startups.
They get crypto folks excited about the prospects of good returns. With their wide circulation, the enterprise creates a buzz and paves the way for its future. Although the future depends on many other factors, the airdrop does its job well.
The new projects promote them on social media platforms and cryptocurrency forums. The project usually chooses the most commonly used standards for creating their tokens. This way, they ensure that their tokens reach a maximum number of crypto users.
Types of Crypto Airdrops One Must Know About
These programs offer different advantages to users and help startups grow in unique ways.
Standard Airdrop
Standard airdrop follows a simple process to distribute the tokens. Most of them just ask for the wallet addresses and have a preset limit of tokens for distribution. Since they aren’t so sophisticated, users may even play foul by creating multiple wallet addresses.
Bounty Airdrop
Bounty airdrops typically come with a task for users. Mostly, it’s sharing a promotional social media post about the project or retweeting the original tweets. They may also offer referral bonuses and other benefits in exchange for promotions.
Holder Airdrop
Holder airdrops are the rewards distributed to the existing token holders. The firms do it for various reasons including maintaining the investiture. Moreover, certain conditions are attached to it like investors with a particular sum of tokens are only eligible.
Exclusive Airdrop
An exclusive airdrop also acts as a reward but not to the existing investors. It could be given on different grounds like promotional efforts or involvement in a project. The team can consider anyone based on their merits.
Raffle Airdrop
As the meaning of the word indicates, this airdrop encourages people to earn a raffle ticket. They may be required to earn points and hold a certain number of tokens.
Impact of Airdrop
Airdrops help new projects gain visibility and influence. They enable new firms to build a loyal base that underpins their future endeavors. Furthermore, they have proved quite fruitful for new enterprises in the crypto domain. Many digital marketers offer this service these days making it easy for entrepreneurs to choose ICOs for fundraising. However, experts advise businesses and individuals to seek legal expertise before thinking of airdrops.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/11/15/explore-the-world-of-crypto-airdrops-and-their-many-benefits/