THE TRUTH ABOUT WHERE AIRDROPS COME FROM
Are you curious about the concept of AIRDROP and where this free money comes from? Perhaps you’ve heard of this term before, but are not quite sure what it means.
AIRDROP is a popular term in the Blockchain industry with various interpretations. In this article, we will provide you with a comprehensive understanding of AIRDROP, its origins, and its uses in the Blockchain space.
Despite some misconceptions that AIRDROP is linked to “blood money,” we will clarify the truth behind this term. As your technical writer, I will simplify and explain the complex nature of AIRDROP to help you make informed decisions about whether or not to participate in any AIRDROP projects.
In addition, I will encourage you to read the article on Blockchain to fully grasp the concepts underlying AIRDROP.
By the end of this article, you will have a clear understanding of AIRDROP and be able to make an informed decision about participating in any AIRDROP opportunities.
I asked my new buddy to explain the term Airdrop to me and this was the reply “In the blockchain space, an airdrop is a way for people to receive free tokens or coins of a particular cryptocurrency.
Just like how you might drop a package from the sky, people who own a certain cryptocurrency might decide to “drop” some of their tokens or coins to other people who also own that cryptocurrency.
These airdrops are usually done as a way to get more people interested in a particular cryptocurrency or to reward people for holding onto that cryptocurrency for a certain amount of time. So it’s like a surprise gift of tokens or coins that people can receive just for owning a certain cryptocurrency!”
Before we begin, it’s important to note that every industry has its own style of operation. In the case of the Blockchain space, they have a unique style of operation. Therefore, if you plan on building a product using Blockchain technology, you’ll need to follow their specific style of operation.
The style of operation here involves employing marketers, developers, UI/UX designers, Content writers, etc.
To build publicity, you can use different marketing strategies, one of which is social media.
There are several ways to use social media platforms to create awareness for your project:
Ask interested followers to retweet, like, follow, make a post, and tag their friends and your project. This will give your project more publicity and potentially bring in new followers.
Encourage people to join your project’s Discord server to get involved and stay updated.
Consider “shilling” on other project platforms, which involves promoting your project among your competitors or on other projects.
Build and establish partnerships with other projects that are building similar products as yours.
Host online and offline meetups, Airdrop, webinars, and AMA (Ask Me Anything) sessions. AMA works well because it allows people to connect with someone they can talk to and ask questions.
By using these strategies, you can increase the visibility of your project and connect with potential supporters and partners.
Note: these are marketing strategies and you need to indicate them as part of the requirements to get any free offer of your product.
Now back to back to the main question, where do AIRDROPS come from?
Airdrops are a form of free money that you can receive after performing certain tasks. Sometimes, all you have to do is copy and paste your wallet address, although such opportunities are rare.
To fund airdrops, a certain amount is set aside from the business plan and raised from investors. Remember, airdrops are a marketing strategy that companies use to promote their solutions.
Every company has investors, and it may take several years for a new business to recover its capital and become profitable, depending on the industry. Therefore, it’s important to explain to your investors that you need time to succeed.
To implement this strategy, investors provide funding, and the project team devises strategies to boost the business idea while attaching incentives to specific tasks. The project may choose to allocate up to 50% of its profits to airdrops.
For example, ZetaChain is the world’s first and only decentralized L1 blockchain with built-in cross-chain interoperability, connecting all blockchains, even non-smart contract chains like Bitcoin and Dogecoin. With ZetaChain’s complete Omnichain toolkit, developers can build true omnichain dApps from a single point of logic, and users can access all of their assets, data, and liquidity in a single place, securely. Currently, they’re inviting users to test their links. Which is another topic for today's Testnets.
Testnets are another way to get airdrops. Just interact with their website and you might stand a chance for an airdrop. You can use this link to interact with their Zetachain testnets.
There is no guarantee that there will be an airdrop but it’s just good to try.
NOTE: Watch out for phishing links when participating in airdrops. Always take the following steps before clicking on any links shared by others on social media or other platforms related to a project’s airdrop announcement:
- Verify the information on the project’s official website or social media accounts.
- Be cautious of links that ask for your personal information or require you to log in to your wallet.
- Only use trusted sources to obtain information about the airdrop.
By following these precautions, you can help protect yourself from falling victim to phishing scams and ensure that you participate in airdrops safely.
In conclusion, Airdrops are a form of free money or resources given by projects to their loyal customers. Some projects announce airdrops during their launch for those who interact with their platforms, while others wait to grow organically before announcing anything. Interacting with any of their products is at your own risk, so DYOR (Do your own Research).
