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Tuesday, 7 February 2023 - Monday, 14 August 2023

What Is Airdrop? How Does Airdrop Work?

Airdrop is a process organized for newly launched cryptocurrency projects that distributes free cryptocurrency to participants in exchange for certain tasks.

Airdrop is a definition that covers the rewarding process created to contribute to the introduction of a digital product that will be introduced for the first time to the community. Airdrop can be defined as a marketing strategy for the promotion of newly created and launched projects such as tokens, NFT, Metaverse, etc.

Users who participate in the airdrop process are rewarded for completing simple tasks. These rewards are defined as cryptocurrencies to the user's wallet address. Airdrop tasks are usually simple transactions linked to social media platforms.

How to Participate in Airdrop?

Airdrops are often announced on the website of the respective company or project, on cryptocurrency forums or social media platforms. In order to participate in the airdrop process, the digital asset wallet must contain the minimum amount of cryptocurrencies of the respective project. Examples of crypto airdrops include projects such as Tamadoge, Battle Infinity, Lucky Block, Pulsechain, Basic Attention Token, DeFiChain and DEO Labs.

In order to participate in the airdrop process, the designated tasks must be completed. After completing the tasks, rewards are given to the participants. These tasks can be as follows:

  • Following social media accounts.
  • Sharing hashtags, posts, or retweeting a tweet.
  • Creating an account or subscribing to a newsletter.

What Are The Types of Airdrops?

Designed to raise recognition of a new project, the airdrop is divided into five types:

  • Standard Airdrop
  • Bounty Airdrop
  • Holder Airdrop
  • Exclusive Airdrop
  • Raffle Airdrop

Standard Airdrop

Standard airdrop is defined as an airdrop process where the user who wants to participate can easily participate by entering their name, surname or e-mail address. The main purpose of the standard airdrop is to create a large user base. In a standard airdrop, the amount of digital assets to be distributed as rewards is fixed and the amount of rewards each participant can earn is limited. 

Bounty Airdrop

Bounty airdrop occurs when users perform certain tasks. These tasks include social media actions such as retweeting a post shared by the relevant project, joining the discord channel or signing up for the newsletter. 

Users may need to earn a certain number of points before they are eligible for a reward. As an example, each of the tasks can be scored separately and the set number of points can be reached as the tasks are fulfilled. Once a participant has earned X points, they can participate in the airdrop process.

Holder Airdrop

A holder airdrop is a process where a particular cryptocurrency is distributed to holders of that asset. It is often used as a way to test the community's interest and engagement with the asset. In the holder airdrop process, the recipient must hold the cryptocurrency in their digital wallet. People who hold the cryptocurrency in question are rewarded with cryptocurrencies for free.

Exclusive Airdrop

In exclusive airdrop, rewards are distributed only to specific wallet addresses. They are selected based on factors such as time spent on the project, number of submissions in the form or money spent on the non-token activity. An exclusive airdrop is also referred to as a special airdrop.

Raffle Airdrop

In raffle airdrop, winners are determined through a lottery process and a limited number of wallet addresses are selected randomly.

To participate in the lottery, there are rules such as holding the relevant cryptocurrency in a digital wallet, expressing interest and points in the project.
To participate in the lottery, there are rules such as holding the relevant cryptocurrency in a digital wallet, expressing interest and points in the project.

What Is the Difference Between Airdrop and ICO (Initial Coin Offering)?

Airdrops are different from pre-sale offerings such as Initial Coin Offerings (ICO). The purpose of events like ICOs is to fund new projects. Therefore, participating in ICO events is not free. Investors can have early access to cryptocurrencies they believe have promising futures through ICOs.

Airdrop is a free marketing strategy. Airdrop events often aim to increase the popularity of a new cryptocurrency that will be released to the market.

What Is MetaAirdrop?

Metatime, which aims to establish the most comprehensive ecosystem in the world, introduced its users to the MetaAirdrop event on March 3, 2023, which will last for 10 months and bring many innovations. MetaAirdrop will last until January 1, 2024, and a total of 200 million Metatime Coins (MTC) will be distributed.

You can click here for more information about MetaAirdrop.

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