Community building is most important for any start-up, not only the ones in the blockchain space. Proof of community is valuable for ICO’s, STO’s and IEO’s.
If you’re not paying for the product, you are the product.
By doing an airdrop or bounty the project creates awareness about their ICO or token. As a result, it brings people to the project that otherwise would not have heard about it. In addition it leads to token price appreciation, since people value an asset they own higher than a token they don’t own. This is called the endowment effect.
Furthermore airdrops and bounties create a network of people who own the tokens. If you would list the token distribution after an ICO in a pie graph, a large part of the pie is still owned by the Developers or team. Another large part is owned by people who joined the pre-sale. Lastly, a reasonable part is owned by people who invested in the ICO. Therefor, an airdrop adds an extra slice to the pie and that slice will have the majority of people in it.
A free coin also plants a seed in your mind. When looking at cointrackers, you’ll see a list of thousands of coins. However, if you own a coin that name is still in your brain. The seed is planted and whenever you check cointrackers and scroll down, the name of the free e-Coin will jump out and people will check how it’s doing. If they see an article that the free e-Token is doing well or bad, they are more likely to click it if they own it or previously have owned it. It’s just like advertising!
Looking forward, possible crypto airdrop developments could be projects starting to gift tokens to users who hold tokens in projects that overlap or have some synergy with their own. We could also see projects encouraging other projects to airdrop to their token owners and receiving some benefit in return. Like we already see happening at the Ethereum, Waves & NXT platforms.
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