These Hot Crypto Projects Could Launch Free Token Airdrops Soon
Crypto fanatics are always on the lookout for the next big project that could potentially rocket to the moon and make them rich in the process. The problem is that most are not yet rich, and so they want to back projects that can make them millionaires with the smallest possible investment. And there’s no better way to do that than by receiving new tokens for free.
It’s one of the reasons why airdrops are among the most exciting events in the crypto universe. Airdrops are a popular marketing strategy for new crypto projects. In a nutshell, blockchain startups send free tokens to user’s wallets in the hope that it will generate more interest and perhaps incentivize more people to start using their product or service.
Airdrops are much like being given a free sample of shampoo at the supermarket, and are usually part of a wider marketing strategy that involves creating a strong social media presence on channels like Twitter, YouTube, Telegram and Discord that are popular with crypto enthusiasts.
How Airdrops Work
The format of airdrops can vary but in most cases they involve a small number of cryptocurrency tokens being distributed to various digital wallets on popular blockchain platforms like Binance Chain or Ethereum. Sometimes, projects may also giveaway non-fungible tokens (NFTs) as part of an airdrop, either instead of or alongside free tokens.
The way tokens are distributed varies quite a bit. In some instances, users need to do no more than simply own the correct wallet, while other projects will make requests. So users might be asked to follow the project’s social media channels as an eligibility requirements, while others might require user’s sign up for a newsletter, or hold a minimum amount of tokens in a specified wallet. It’s also worth pointing out that even if a user is eligible, they might not be selected to receive any tokens from an airdrop if only a limited number are available.
The idea behind airdrops is that projects can grow their user base. A high number of token holders is often seen as a strong gauge of user adoption, and also indicates a high level of decentralization, which is almost always seen as a positive. They may also motivate people to start interacting with new projects before they list on big crypto exchanges.
The great thing about airdrops is that there are lots of them. It’s possible to receive free tokens from new and existing projects every single week so long as you’re prepared to spend the time searching for them and doing whatever is required to become eligible. Airdrops.io provides a good list of confirmed, up-and-coming airdrops to look out for.
Potential Airdrops To Watch
While most airdrops involve tokens that are basically worthless, there are occasional events that see tokens with real value getting distributed to loyal users. One of the hottest potential airdrops of this year could involve MetaMask, which is one of the most widely used Ethereum wallets.
A MetaMask airdrop has been the subject of speculation for some weeks already. Rumor has it that the project may drop its new token, known as “MASK” sometime this year. The gossip began late November 2021 when Joe Lubin, the CEO of ConsenSys, the company that develops the MetaMask wallet, tweeted a response to claims that his company may not want to hold tokens on its balance sheet.
MetaMask is hugely popular, so any token associated with that platform could well become a highly-prized asset.
ConsenSys has stayed quiet on the possibility of a ‘MASK airdrop’ ever since but its silence has done little to dispel the rumors. The company would do well not to disappoint its users, though it remains to be seen who would be eligible.
Another widely anticipated potential airdrop may involve zkSync, a crypto privacy project that uses zkRollups to obscure blockchain transactions. The word on the street is that zkSync may be launching a token that enables cheaper transactions and provides governance rights. Given the project’s popularity, it could well become a valuable token.
Indeed, zkSync has already promised to launch its native token at some point, and the latest speculation is that those who interact with its testnet or mainnet will be eligible for the airdrop.
zkSync has added fuel to those rumors, several times tweeting the following to remind users that it doesn’t have a token yet and that, if and when it does launch when, they will receive plenty of warning.
Dear community, beware of scams!!!
* zkSync doesn’t have a token yet.
* We will never dm you.
* Don’t rush. Nothing is ever going to happen suddenly, without many weeks of notice.
* ALL of our official groups are listed on https://t.co/qCABoE4h7F — always double check.RT pls!
— zkSync (@zksync) November 24, 2021
One of the most exciting airdrops that most definitely will happen is Oraichain’s upcoming ORAIX Fairdrop Program, which will distribute ORAIX to users. ORAIX is Oraichain’s new CW20-compatible governance and utility token that enables staking rewards and lower transaction costs on the recently launched OraiDEX platform.
Looks like I missed this last month. Fully on-chain VRFs are very cool, looking forward to this when it comes out.
Oraichain VRF 2.0: the world’s first fully on-chain VRF for Avalanche network by @oraichain https://t.co/yKLL9MR6em
— Emin Gün Sirer🔺 (@el33th4xor) April 7, 2022
Because Oraichain has officially confirmed the airdrop, we also know the full details. The drop will be open to ORAI, ATOM, OSMO, LUNA, JUNO, AIRI and KWT token holders, though users are also required to stake native ORAI on the Oraichain mainnet, rather than any DEX or CEX, to be eligible. Oraichain said the airdrop allocation for each eligible wallet will be based on a number of criteria, including the ratio of stake ORAI between wallet balances, total delegated ORAI at the time the snapshot is made, the max cap of each wallet and its active history.
A final possible airdrop this year might involve the number one NFT platform OpenSea. Although it’s the biggest NFT marketplace in terms of sales and transaction volume, OpenSea somewhat incredibly still doesn’t have its own token. As a result, the rumor mill has been running at full speed, with an almost constant stream of hearsay about an OpenSea token launch arriving in the near future.
The theory goes that anyone who has previously bought or sold an NFT on OpenSea will be available for the airdrop, so be sure to watch this space!