Did you know that you can earn free NFTs and cryptocurrency? It can be as easy as 123 (or just following someone on Twitter!)
If you’re a member of the non-fungible token community, you’ve probably heard of “airdropping” tokens. But what do people mean by an “NFT airdrop”? (Hint: it’s got nothing to do with sending people photos on your iPhone!)
What Are NFT Airdrops and Why Do We Love Them?
An Non-fungible token Airdrop, or free drop, is a way to distribute freshly minted NFTs to multiple wallets at once. This is usually done as a marketing ploy for limited NFTs, or as rewards for being part of a community. These gifts aren’t only for NFTs. Some senders will airdrop crypto, digital coins, access tokens or exclusive content instead.
How do I receive my Non-fungible token Airdrop, and how do I know it’s safe?
There are two ways to receive a Non-fungible token Airdrop. Either it’s:
- Deposited directly into your wallet (main or hidden folders) from the sender, or
- Only sent to you once you’ve connected your wallet to a certain site.
Be wary, though – if an Airdrop looks too good to be true, it probably is.
Although many Airdrops are safe, it is possible to be scammed. Make sure that the sender has a connection to the project they’re sending from and vet sites for credibility before clicking on any links. You can also track the address of the wallet that the Airdrop came from, just to be certain. While crypto transactions don’t always display identifiable information, they are not anonymous.
A clear sign that an Airdrop is a scam is if the sender asks for a payment before they send it. If you’re unsure, ask members of the community for help. If it’s legit, someone else will know about it and where it’s coming from. Non-fungible token drops are gifts – they are (usually) completely free to receive.
If you are sending a token, however, it can be costly. Depending on how many wallets you’re Airdropping to, gas fees can rack up to quite a hefty amount. Keep a close watch on gas prices, and try to drop your tokens when they’re at their lowest.
How do I earn these rewards?
There are a few ways to become a recipient of these free on-fungible token drops. As Airdrops are a popular marketing tactic for upcoming projects, the easiest way is to follow and support these brands, earning your place on their list. Some will even reward people who like and share their posts on social media. These situations are usually harder to come across, and often the free tokens are worth very little.
Another way to try and get free tokens is to sign up to a whitelist. Some creators will tease their work by gifting whitelisters less valuable pieces before the actual drop happens. Creators can also reward you for owning one of their pieces – random updates, accessories or exclusive perks can be sent to wallets that hold their NFTs.
There are other ways to put yourself on the Airdrop radar, but if you’re just starting out, these are your best bet.
The History of Non-fungible token Airdrops: Where did it all start?
The origin of Non-fungible token Airdrops is an interesting – and unexpected – story. Back in 2014, Iceland introduced Auroracoin. This was an attempt at a national cryptocurrency, and to launch the project, half of the entire supply was gifted to citizens. Each citizen was Airdropped 31.8 AUR, which at the time was worth around $11.93 for 1 AUR. Unfortunately, Auroracoin didn’t survive, and it’s worth almost nothing today.
Some other notable moments in Airdrop history?
- CryptoPunks sent out 5000 free proto-NFTs in 2017 (way before the project was as big as it is today).
- PancakeSwap gave away limited edition NFTs to the first 8888 people who signed up to their platform.
What are some upcoming Airdrops that I should be on the lookout for?
- Aptos, an upcoming blockchain, has offered 20,076,150 APT (their native coin) to early users.
- GamesPad is giving away 3000 exclusive NFTs
- Angelic is also giving away 1100 NFTs.
- BLUR airdropped free BLUR tokens to people who had previously traded NFTs on their platform.
What other functions do Airdrops have?
In early 2022, the New York State Supreme Court issued court papers to an anonymous crypto scammer via Airdrop. This “service token” contained a hyperlink to a site containing these papers. The person(s) was charged with “Theft of Virtual Assets”, having allegedly stolen $8 million worth of cryptocurrency.
This is an interesting opportunity for governments to prevent and punish anonymous online crimes. Airdrops cannot be refused, so it’s a foolproof way to serve someone court documents.
NFT Airdrops can be a fantastic way to earn free crypto or non-fungible tokens. In return, non-fungible token creators can advertise their upcoming projects this way, or create “hype” within the community. Even though they can be expensive to mint and send, the return on investment is usually very worthwhile.
Additionally, Airdrops have proven to be useful outside of the crypto world.
Can we expect to see more legal systems implementing this method?
Time will tell…