What Are ICO Air Drops and Where to Find Them
A recent phenomenon in the cryptocurrency economy
has been the incidences and instances of cryptocurrency token airdrops. This has been particularly pronounced with Initial Coin Offering (ICO) projects. Airdrop events have become such a ‘craze’ that people have turned up in their numbers on the internet seeking how to make some free tokens from airdrops.
What is an Air drop?
Air drop is just another way of distributing cryptocurrency tokens to help with the process of adoption for the particular token. Some ICO projects choose to give out their tokens practically for free to members of their community as a means of encouraging the token’s adoption and usage with the hope that in the process, there will be increased demand for the token which will in turn help to drive up its value. Usually after the main crowd sale events, a small percentage of the total tokens are set aside for air drops.
In as much as these air drops seem to be free, beneficiaries tend to be community members of the ICO project who have made efforts towards the development and growth of the community. Air drop beneficiary efforts are usually gauged by the consistency and quality of their contribution to topics that relate to the project. The duration of community membership is also a parameter often used – older members of an ICO project’s telegram, Slack, Discord or other communal social media platforms tend to be candidates for free tokens by way of airdrops as compared to newer community members.
Changes in the ICO Game
Just like the blockchain technology that runs it, ICOs keep changing by way of operations and execution. As the months go by, a lot of dynamism and improvements are introduced. A lot of these innovations in the ICO space are attributable to the Ethereum blockchain which is the leading blockchain by way of ICO token development. Majority of the token airdrop have been linked to ERC20 tokens. The flexibility and freedom that the Ethereum network gives entrepreneurs and developers has been a catalyst in the dynamism being experienced with the way ICOs are run and this same dynamism has inspired the recent airdrop events we are currently witnessing in the blockchain and ICO space.
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