Why 2023 is the year of the Airdrop (and how you can participate)

I’m calling it: 2023 will be the year of the airdrop!

Airdrops are one of my top megatrend picks for this year (which I’ll share more about soon!).

So, what exactly are they?

Well, although it sounds too good to be true, airdrops are essentially free money.

Yes, that’s right. Free. Money.

And if you think there’s no such thing as a free lunch, the other party is also getting something for free too. An audience.

It’s quite genius in a way and it’s also something completely unique to crypto.

By using airdrops, a project team doesn’t have to build their audience from the ground up, they simply tap into one that already exists. It’s a form of crypto marketing that works well for all parties.

Let’s say you hold crypto A. Another project team is launching a new coin and wants to target a like-minded audience, so they offer everyone who holds Crypto A, a free airdrop of Crypto B. You get a free coin which may or may not be worth big $$ (this gets determined by the market) and they expose an entire group of people to their coin and create awareness around it. When the coin is released to market, there’s an engaged audience ready to spring into action.

Everybody wins!!

So how do you participate?

There are a few ways you can position yourself to receive airdrops:

1. Have your crypto in a wallet that you control. This is best practice for any investor, but it’s important for airdrops because projects need somewhere to send your tokens.
2. Follow and engage with a project’s social channels. You can’t receive if you don’t know it’s happening.
3. Start looking for current projects that have big communities behind them, with strong projects and timelines (so think DeFi and major layer 1 blockchains). If you have exposure to these types of coins, you’ll have more potential of aligning yourself with free airdrop goodies.

 

As with anything in crypto, educating yourself is key, so it’s worth taking the time to do some research on these now. When airdrops happen, you want the learning curve behind you so you can jump straight on those opportunities.