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Anushree Mitra
Anushree Mitra

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What are NFT Airdrops? An In-Depth Analysis!

NFT airdrops, one of the most popular topics in the crypto world, have been showing new ways of promoting NFT collections, raising brand awareness, and offering better customer engagement. Airdrops offer the distribution of NFTs free of cost to the whitelisted community or a specific group.
Participation in these airdrops needs users’ participation to hold a specific type of NFT, and then it incentivizes existing holders and creates a link between the old and new collections. Using these airdrops for project upgrades, special packages, and companion NFTs is common.

Different Types of NFT Airdrops

Standard Airdrops: These airdrops offer a limited number of NFTs within a specific timeframe. Users' responsibilities are simple. They only need to create an account and connect their public crypto wallets to the website without any additional tasks required.

Exclusive Airdrop: Exclusive airdrops are designed to give rewards to loyal holders who have held the token for an extended period and besides also took part in exclusive in-person events, engaged with the community, and contributed to the collection.

Holder Airdrop: Holder Airdrop is one of the commonest ones that allows sending NFTs to wallet addresses that hold a specific NFT or cryptocurrency. The quantity of NFTs received depends on the token numbers in the wallet.

Raffle Airdrop: This specific airdrop distributes NFTs to selected individuals. Creators can create groups using users' crypto wallets and whitelist them before declaring the winners. Participants need to sign up or complete specific tasks to participate in the raffle.

Ways to Claim for an NFT Airdrop

Participation in NFT airdrop highly depends on the creator’s choice. To join an airdrop, first, you need a crypto wallet that is compatible with the specific blockchain and NFT you wish to receive. Here you need to provide the public wallet address to the specific project or connect your wallet to the designated claim site of the project.

To claim your airdrop, you need to visit the airdrop page and over there you will get a set of tasks and rules that need to be completed and followed. These tasks can vary and include several activities like joining a specific community channel, sharing the project on social media, doing meaningful interactions about projects, referring friends, etc. Getting involved in all these tasks enhances your eligibility to get airdrop.

Sometimes, you may need to get involved in active performances as well. Over there, your wallet address is already accessible to the airdrop creator and it will be in the distribution list with other useful addresses. Active participation is common in holder airdrops that depend on giving rewards to current token holders based on token numbers in their wallets.

For successful claiming of airdrop, it is necessary to review the instructions and guidelines provided by the project to ensure that you meet the requirements and maximize your chances of receiving the NFT airdrop.

NFT Airdrops Benefits

Purchase Incentivization

Airdrops help to drive community engagement and raise brand awareness for NFT and Web3 projects. Airdrops incentivize purchases and reward community members with free tokens. To claim for them, you need to do tasks like sharing content on social media or interacting with the community.

Some airdrops incorporate gamification, where top referrers receive higher-value items. The project’s website or discord channels distribute the NFT airdrops. Participants get a limited time to sign up, and they need to connect to wallets or interact with smart contracts. These are proven beneficial for promoting NFT projects to different influencers or investors.

A Great Lead Generation Tool

An NFT airdrop also works as a great lead generation tool that allows getting important data from their audience while providing rewards. Users can enjoy the option of earning rewards by completing simple tasks like sharing posts or subscribing to newsletters, making airdrops effective for advertising new products and services.

Standard airdrops allow sending NFTs to users’ wallets after completing any task ( retweeting, joining a discord community, etc). These airdrops offer great rewards and can attract customers that finally help in lead generation. Exclusive airdrops reward dedicated and loyal members of a community by offering a native token-related platform.

Spread Awareness Messages with Ease

An airdrop campaign can be an effective method to spread awareness messages and reach a huge audience. Organizing the attention of huge people becomes easier by organizing such campaigns.

This exposure increases the number of website visitors. Also, they create curiosity and increase the interest of common people. Those people promote your brands and also add unique value. And spreading that message allows you to showcase your airdrops to a diverse audience, and finally, a positive brand image and reputation are created.

Discussing a Few Common NFT Airdrops

Cryptopunks

Cryptopunks achieved the position of the most prominent and valuable NFT collections. 24% of cryptopunks were issued as airdrops to 400 supporters. In June 2017, during the primary months users were supposed to cover the gas fees only to acquire cryptopunks. But in the current market, its value is increasing rapidly. It achieved a huge value of $300,000 that contributed to the trading volume of $70 million/day.

Bored Ape Yacht Club

Bored Ape Yacht Club or BYAC is one of the most NFT collections worldwide. BYAC denotes a highly demandable series of NFT profile pictures based on the Ethereum blockchain. The best thing about owning BYAC NFT is you can earn access to the added NFT collectible that you can resell to get cash.

Safety Tips You Must Follow Before Being a Part of Airdrops

  • Receiving NFTs to crypto wallets that come from authentic sources is not anything uncommon. Chances are that these are scams and it is better to avoid selling, trading, or interacting
  • Before using, be sure to double-check tokens carefully and assure it’s source matches with the original creator. Now check out some best safety tips which will make the airdrop participation safe and flawless.
  • Make sure to provide your public wallet address to verifiable projects. Avoid sharing sensitive information like private keys, seed phrases, personal credentials, etc.
  • Don’t forget to double-check the legitimacy of a project before you connect your wallet to dApp. Remember, scammers are experts in replicating content, sites, or landing pages. Look for the changes in the website direction carefully after verifying the URL.
  • If you find a task of sending cryptos or money to any particular wallet, it might be a red alert. Avoid such transactions.
  • Try to use an empty NFT wallet whenever possible, as they come with lesser risks.
  • Avoid using NFT airdrops that come to you via direct messages. These might be low-quality NFTs or scams.
  • Don’t transfer crypto only to any wallet to get eligible for airdrops. Most of such claims are proven scams.

Conclusion

NFT airdrops serve as potent promotional tools for launching projects and creating excitement among users. So, as said before, the strategic use of airdrops can give you better reach and leads. But remember, participating in airdrops requires significant time and effort from collectors, making it necessary to consider their value and feasibility carefully. Get engaged in airdrops after maintaining vigilance and ensure their legitimacy and authenticity beforehand. The world of NFT airdrops is indeed an interesting and funny one! Start exploring it.

Discussion (1)

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Leowhyx

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