WHY AIRDROPS
Airdrops?
Count me in, Hello everyone, will be making my first post and I would be talking on airdrops. Before I continue, would love to introduce the topic to everyone.
What is Airdrop?
So many meanings and explanations as to what airdrop is, but I will think Wikipedia did justice to it. According to Wikipedia,
An airdrop is a distribution of a cryptocurrency token or coin, usually for free, to a large number of wallet addresses
In other words, airdrops are just like a giveaway or dashing out of crypto-currencies for free to people for little or no stress by engaging them to perform a small task so as to qualify for it.
Why Airdrop?
This is a big question on everyone mind, why will you give out free money to people without them really not doing anything deserving. But it will interest you to know that there is a good reason for them doing that. The reasons will be explained in the following paragraphs.
The first reason for the airdrop is to help register the names of a new or existing crypto-currency into the heart of people. When a new crypto-currency wanna launch, they do an airdrop to help promote this crypto-currency. This airdrop captures the attentions of people and many people will wanna do the little tasks assigned so as to qualify. From that process, the news on such airdrop is Been spread and people can familiarize their self with it.
The second reason for the airdrop is that they want a large range of people to have their tokens i.e through airdropping their token, Many people get to have their tokens in their wallet. Digital Marketing depends more on leads. most organisations use airdrops to create a database and this organisation know that airdrops will help them reach a much larger audience and that will help improve patronage of their services or products through this marketing campaign. n Sometimes having a token in your wallet will want you to get more and all This can still be seen as a marketing strategy or a startup business giveaway. In the long run, it will always work in their favour.
Lastly, some existing crypto-currency do airdrop just to reward their loyal customers. As I said earlier, existing crypto-currencies also do airdrops and this is one major reason for doing this. This act will help cement their place in their customer's hearts and they will always want to Hodl their crypto in their wallets and always buy more if needed. This way, other people who don’t have before then, will want to get also and also become part of their family. It’s all about loyalty and growth most times and some crypto-currency cares for this little details. some airdrops are just been made to reward their loyal customers with free cryptocurrency tokens. This will only give the customers incentive to continue patronizing the same platform.
So in summary, the reasons for doing an airdrop might be different from each other but all end up with the organizers giving out free coins and everyone love something is free and also of value. So many tops ranked crypto-currencies in the world at one point in their existence passed through this phase and many more will still do it. Just like indirectly advertising their products but not doing it their-selves.
To be continued?