Why You Should Care About Airdrops
By Sidney C. | 9-15-2022
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Airdrops are an easy way for users of decentralized apps (dapps) and games to get free cryptocurrencies, NFTs, or other rewards straight to their wallets.
Airdrops are rewards distributed to users of web3 communities with no fees or strings attached. They are a popular way for crypto projects and games to promote their brand or reward loyal users. In the wide world of web3, there are multiple ways to encounter the joys of airdrops.
Promotional - Users can get airdrops just by signing up for or interacting with dapps. Often, a dapp will require users to hold a certain amount of tokens or interact with the platform several times to become eligible for airdrops. If users qualify, they'll see rewards automatically added to their accounts. These airdrops can take the form of lesser-known cryptocurrencies or small amounts of popular ones.
Loyalty - Many DAOs, dapps, and web3 games look to reward their most loyal members, and the easiest way to do that is by sending them free airdrops. Users qualify for loyalty airdrops by participating in events, being active for a prolonged period of time, or moving a large amount of money through the program. These airdrops can take the form of exclusive NFTs, governance tokens, or other cryptocurrencies.
Forking - Though much rarer than other forms of airdrops, members of blockchains that undergo a hard fork are often airdropped their blockchain's new currency. When a blockchain forks, the old currency can become useless, so blockchains will take a snapshot of users' portfolios and airdrop an equal amount of currency with their new token.
What are Airdrops in web3?
Airdrops are a simple way for developers of web3 projects to give back to their communities or promote themselves. When leveraged correctly, they can be lucrative and highly rewarding.
In conclusion
How to Find and Qualify for Airdrops
Promotional and forking airdrops aren't hard to find. Many crypto exchanges, decentralized apps, and web3 games offer promotional airdrops just for making an account with them. Forking airdrops, as mentioned earlier, are far less frequent in web3, but you can find them by searching for blockchains considering hard forks.
Loyalty airdrops are the hardest to search for because many dapps and games don't advertise them. They don't want their users to create a checklist that allows them to con the airdrop. Developers will take a snapshot of their users' wallets and collect data on levels of interaction, amount of money put through the dapp, and time spent active. Then they'll surprise their community by giving everyone free rewards.
To qualify for promotional airdrops, users will need to make an account at the advertised dapp and read the fine print associated with the airdrop. Many times, users will also be required to hold a certain amount of cryptocurrency to qualify fully.
Users must hold the blockchain's token before the fork happens, so they can qualify for forking airdrops. To qualify for loyalty airdrops, users will need to be fiercely active and hope the developers notice.
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