When people think of crypto airdrops, the first thing that often comes to mind is the word free. For users, that means free tokens rolling into their crypto wallets. On the other side, for blockchain/crypto startups, that means a free and effective marketing tool.
But, how did this whole thing with free airdrops get started? How and when did airdrops show up on the crypto stage? In today’s blog post, we’ll take a look back and answer those questions. Ready to dive in?
Auroracoin – the first free crypto airdrop ever
In 2014, Iceland’s national currency króna was in trouble. The government put restrictions on the currency, and limited it movement outside of the country.
This meant that Iceland’s economy and people needed an alternative. And an unknown developer or group of people, using the pseudonym Baldur Friggjar Óðinsson created one, and called it Auroracoin.
Finally, in March 2014, Auroracoin’s tokens were distributed to the citizens of Iceland. Each resident with a permanent resident ID received 31.8 AUR.
However, things didn’t turn out that well. In a period of six months Auroracoin lost its entire market cap. Politicians started to criticize the coin, and some legal issues were raised. In short, the project failed.
Luckily, this didn’t affect airdrops overall, and they had a bright future ahead. In fact, in the next couple of years thing got serious.
Projects started to distribute huge numbers of tokens, crypto enthusiasts started to become more and more interested in receiving free coins, and startups realized the value of network effect that upcoming airdrops easily create.
Airdrops that went into crypto history
After seeing a potential in using airdrops, many startups decided to use them for reaching more crypto wallets, and raising awareness about their projects.
For example, TRON is a blockchain startup that recently acquired BitTorrent, a file sharing service. To celebrate this notable partnership, the company decided to conduct an airdrop distribution to TRON’s TRX holders.
But not just any airdrop distribution. BTT airdrop is distributing around 100 billion BTT tokens to the wallets of TRX holders. Plus, the airdrop will last until 2025. That’s a sure way to go into crypto history.
Or let’s take another example. Stellar is a decentralized platform for creating financial products. In addition, Stellar is known for conducting the biggest airdrop in crypto history so far.
After their partnership with Blockchain, a cryptocurrency software provider, Stellar decided to conduct an airdrop to anyone holding a Blockchain wallet. So, they decided to give away $125,000,000 in XLM tokens.
This means not only that Stellar took its spot in crypto history, but that the company will reach millions of users’ wallets as well.
As you can see, airdrops have a fascinating history behind them, which was at the beginning a bit rough (think about the infamous Auroracoin failure).
However, after overcoming this initial obstacle, airdrops turned into free gifts for crypto users, and advertising tools for startups.
To preserve airdrops from flying all over the crypto space, we decided to create a website, Airdrop Alert, where we are gathering all worthy and verified crypto airdrops so you can join.
Don’t forget to subscribe and check out the listed airdrops. You never know, maybe one of them is next to go into crypto history.