Why the rain of Airdrops?

Considering that there are lots of existing cryptocurrency projects and new projects are also increasing in numbers by the day, it becomes a challenge gaining traction and adoption for your crypto project(s). Note worthy is that in the cryptocurrency space, adoption is key, much needed and very necessary for the coin/ token growth and increase in price value. Adoption brings about investments and the more the adoption, the higher the investment in the project.

Thus, airdrops have now become the new normal for advertising new cryptocurrency projects and to some level, it has helped in rapidly growing the communities of novel projects. It has also proven to be an effective marketing strategy hence, the reason it is being used by almost every newly launched token. Coincidentally, airdrops campaign has been on the high just like defi this 2020.

By definition, an airdrop refers to the distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses either after completing certain tasks or for holding a particular existing token or for being in a community etc. Like earlier stated, airdrops are primarily carried as a way of gaining attention for a new project as well as new followers. A successful airdrop campaign often results in gaining a larger user-base and a wider disbursement of the said coins.

Cryptocurrency enthusiasts can gain free money by supporting projects who release coins through an Airdrop. Airdrop tasks are usually not very difficult or stressful. It could just require you joining the community's social media groups, retweeting and sharing a post. At the same time, there are scammy airdrop campaigns that would always require you paying money. In such cases, you should not consent.

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