An airdrop is a win-win situation for both parties involved. As an investor, during an airdrop, you get the opportunity to get free tokens, which, in the future, might become a real gold mine. Usually, airdrops imply joining the company’s communities, thus you will have a few more channels where you receive information about the cryptoland.
As a manager of the project undertaking an airdrop, you are able to create a large audience for your company, which power will be later used to generate traction for your company. If they like it, they will brag about it and other people will join in.
At the moment, there are two very popular approaches to marketing your new token issues for an ICO – bounty and airdrop campaigns. The latter is considered as a sort of a guerilla marketing approach, being the latest rage. Here’s more about it.
According to Daniil Minkov, CEO at SnowFox Technologies, one of the leading companies providing blockchain tech solutions for startups, “crypto airdrop is the way of distributing project tokens (or any other token) among a predefined group of participants. The distribution of tokens during airdrop can be carried out randomly within the blockchain network or on a predetermined basis. An airdrop is all about giving away free coins to peers in the crypto community in order to generate marketing waves for your ICO. Think of throwing a rock into a lake. It makes waves and gets everyone’s attention, isn’t it?”
There are multiple types of airdrops:
- The Surprise Airdrop – This type of an airdrop is not marketed, at all. The participants are selected randomly and have the coins credited to their wallets. After that they need to do their research regarding the coin they received. This type of airdrops are mainly used by already established companies in the crypto industry. Basically, they give away coins asking for nothing in return.
- The Announced Airdrop – This is a more traditional type of an airdrop. It is marketed before it takes place, in order to get as much attention as possible. During these airdrops, participants need to sign up and join the communities in Facebook, Twitter, Telegram, etc. Sometimes users have to really hustle to get the tokens free – for example, make a friend join the group or write and publish a post about the project in several social media channels. This type of an airdrop, besides aiming to create buzz, also focuses on creating a firm starting point in terms of a client database.
It’s all about making more and more people get your token and making it as visible as possible in the crypto community.
During an airdrop, unlike during a bounty program, there are only a few things you need to do in order to get the advertised coins. Usually, following the company on social media networks, joining their Telegram channel, giving away your e-mail, and your ETH address, it’s all you need to do.
Why does it work? It works because the word FREE makes the people crazy, it gets their attention and users start bragging about it. It’s like taking your favourite Lamborghini for a test drive and having a chance to try out a luxurious car without not paying hundreds of thousands of dollars.
Wouldn’t you fill out a form with name and email address for the possibility of a fruitful and secure investment that doesn’t require your money?
Most Famous Airdrops
According to Airdrop King, there are roughly 100 airdrops every month, most of them based on ERC-20 tokens. The average value of an airdrop is of $15-20 worth of tokens, but you can also find airdrops worth in excess of $90. You can make quite some money by participating in these airdrops.
One of the most famous Airdrops out there are:
- Ontology: During this airdrop, all NEO holders received Ontology tokens. As of today, the token has a market cap in excess of $770 million.
- Elementh: The e-commerce blockchain for the masses. During the ICO 6 060 000 EE tokens have been allocated for the purpose of an airdrop, that’s worth about 1212 ETH. In terms of tokens per person, there’s no limit to how many people can join this airdrop. Right now, there are less than 100 people registered to this airdrop, meaning that, if it would stop right now, everyone would get EE tokens worth roughly 12.12 ETH tokens.
- Aworker: This one is still ongoing. The Aworker community is getting bigger and bigger. Right now, their Telegram group has more than 15.000 members.
Here’s an example of the actions you need to undertake in order to join an airdrop:
- Visit Aworker website and click on Sign up.
- Submit your details and signup.
- Verify your mail and log in.
- Go to your profile and save your ETH address.
- Fill out the airdrop form. (Submit the same email address you signed up with)
- Follow them on Twitter and Telegram.
- Like their Facebook page.
- Get 360 WORK tokens.
These airdrops were so popular because they relied on social media networks, such as Twitter and Facebook, and wide-spread communication channels in the crypto industry, such as Telegram. Nonetheless, another important aspect of these airdrops was the user-generated content and the power of word-of-mouth marketing.
In terms of mission, an airdrop hasn’t changed since the first day it was used in the crypto community. Its mission is to get as much attention as possible for your token with as less money spent as possible.
Bounty vs. Airdrop
They both have the same purpose – to give away coins in order to get as much exposure as possible. Even so, there’s a small difference between an airdrop and a bounty program. A participant in an airdrop only needs to join the communities and specify his email, and voila – he receives the coins. Meanwhile, a participant of a bounty program needs to complete different tasks and spend more time in order to receive the coins.
In terms of upcoming airdrops, you might want to check SnowFox’s list and make sure you don’t miss the next ones. Many of them, like Paragon or Crypterium, have managed to raise $50,000,000 including through airdrop campaigns.
Most importantly, you must have a solid project with strong development team because unlike bounty campaigns, airdrop ones require more technical, rather than marketing knowledge. Then, once you make sure this is done, you need to create some buzz in the community. Brag about your future airdrop on Telegram, Twitter, and Reddit communities. Then, when the time comes, ask for the advice of an expert to manage an airdrop in the most effective way.
In terms of forecasts and predictions, there will be lots of new tokens and some of them might also choose an airdrop as a marketing method. There’s a great chance 90% of them will fail. If you want to be in the remaining 10% and stand out of the crowd, make sure you have a solid project, a great team of devs backing it. Also, you need to choose a great marketing agency to create buzz around your project. It’s useless having the best idea out there if nobody knows about it.