Let’s do a quick recap of what Airdrops are and what an ICO does?
Airdrop:
“An Airdrop for a cryptocurrency is a procedure of distributing tokens by awarding them to existing holders of a particular Blockchain currency, such as Bitcoin or Ethereum.”
And An Ico refers to initial coin offering where start-ups they try to gain capital for their project .
Now , the question that everyone has is if an ICO is trying to gain capital, and in Airdrops tokens are given away for free , then how is Airdrop helping them in any way?
Well, for starters when any user or crypto enthusiast hears about Airdrops, they excitedly participate in it , like and follow all the social media pages which gives the start-up a number of followers and, more the number of likes and followers on their pages , bigger is the company’s reach.
Also when a person completes an Airdrop , it makes them more psychologically invested in the project and think very positively about it.
Apart from this if one was to calculate the cost that goes in distributing free tokens in airdrops , it almost as much as the website would have to pay for their digital marketing strategies – like CPC , ADWORDS. At least with Airdrops the company gets to increase its reach. Thus it is used as a marketing tool for ICO’s.
- Presented by CryptoAirdrops,co
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Bigups for the education @siddhipatel. I love learning new ish..
Thank you :)
Great write up very helpful