Hey guys today I'm gonna talk about free Coins.
Am I the only person who finds the word Free to be the most ironic word in the history .Have you ever saw anything free without any tags or conditions. No right, everything ever offered to you free of cost usually comes with an attached T&C.
However, the world of Crypto gives zero shits about the rules and standardized systems of the normal, traditional world.
Digital currency developers are trying a new tech for marketing and encouraging mass adoption: "airdropping" free cryptocurrencies into people's accounts.
The meaning of airdrop basically mans a procedure if distributing tokens by awarding them to existing holders of a particular BlockChain currency, such s Bitcoin or Ethereum.
Earlier this month, holders of the cryptocurrency NEO were selected to receive another digital coin called Ontology, for free. The token is supposed to give holders voting rights for a platform that focuses on identity verification and data services. Ontology began trading on Hong Kong-based exchange Binance on Wednesday, according to an article.
You’re probably thinking - Why would a project distribute its tokens for free instead of selling them?
In many ways, the airdrop (or hard fork) method of distributing tokens is a better way to accomplish the same objectives of an ICO, which are usually three-fold:
Raise Popularity: Getting your token to as many wallets and people as possible for building a strong base of active
users, who just might end up being real customers. Breadth of distribution is typically the important metric,
particularly given that many projects are trying to jump-start a network effect.Raise awareness: A lot of monetary interest is built once the token hits exchanges.
Raise capital: To fund the future development and build-out of the project.
Below are some opinions about Airdrop:
However, the airdrop phenomenon is still "fairly fringe" and "won't affect the price," said Blockchain Intelligence Group's Anstey.
"Airdrops are being misused and abused, to the point where they are starting to lose their intended effect," William Mougayar, blockchain investor and author of "The Business Blockchain," said in an email.
"The more scammy and over-promoted ICOs will tend to send airdrops liberally without a proper user opt-in authorization," Mougayar said. "Sadly, airdrops are the new spam mail or coupons junk mail. They are hit and miss on benefits."
So let's see what free crypto brings for us. Don't forget to share you're opinion in the comment section below.
:)