Airdrops: Titanic of ICOs?

[rajatjain]

Anyone familiar with ICOs also know how such ICOs are functioning nowadays. There are more than 200 ICOs at the moment which are trying to collect funds from those same crypto enthusiasts who helped in raising some of the billion dollar market cap crypto-companies we see today. So how does an ICO stand out and tell people to invest in them and not the other 199 companies?

The answer is airdrops! Airdrops solved a dual purpose: help in bringing huge numbers to the telegram, facebook and twitter community. In other words, the telegram, twitter an facebook community is built effectively from these airdrop hunters only. The second purpose was getting the word out about the company. Maybe a person might see the airdrop about a company and just for a change research about the company and invest in it.

Bounties do not interest people anymore like airdrop does. All one needs to do to get some free tokens as part of the airdrop is join telegram. Do nothing for the project and grab those tokens which other people (the real investors) pay to get them. The company then uses that army of airdroppers to showcase potential investors, the interest the project is getting from people all over the world. Basically, it is a psychological technique or FOMO to show people that they are getting a lot of interest by people and their sale might get closed out soon.

If a company says that they see potential investors in airdroppers, it is wrong. Airdroppers are those people who do not participate in any discussion, spam the links only because they are forced to and stay dead until the campaign is over, ready to ask for tokens into their wallets.

It is a real shame to see so many ICOs falling for Airdrops as a means to showcase how big of a community they have, even though none of it is organic. No one wants to build community through the product since it takes time, involves a lot of strategy and manpower and airdrops seem to be the best way to eliminate all of those things.

I titled airdrops as the titanic because sooner or later the ICOs which are focussing on airdrops will face its consequences. The people who are looking for airdrops are not interested in keeping those tokens! So as soon as the coin hits on exchanges, the people are most likely to sell off those tokens to either purchase bitcoin/ethereum or directly to fiat. Not only this causes harm to the project as soon it steps into the exchange listing, it causes distrust among the loyal members who actually purchased the tokens because they liked the project. If a firm thinks that still it is fine, a short term dip due to sell off of some 1 percent tokens given as part of airdrop won’t cause them harm, then they are mistaken.

Airdroppers dictate how a company is run. After the main sale, if you do not provide them with an exchange to sell off those tokens, they will get into attack mode! They will post negative messages on facebook, twitter, bitcointalk, reddit and any blog they can find. They will fill the group with SCAM! posts and they will push you with their huge numbers behind them to spend some money to go for an exchange. When a 10k telegram community is built on 8k airdroppers, you really don’t have a choice, do you?

The money which an organisation might have saved for hiring some devs or for future purpose will be spent on an exchange just to give them a medium to sell off those very same tokens. There is no way that airdroppers tend to contribute to the community in any way apart from the spamming of links. They are just to increase the community number by a value of 1.

If a company who is looking to raise funds in the organic way, they need to ensure they spend real money on some good marketing, making a better product, using youtube and youtubers , influencers for their promotion instead of providing free tokens to raise a army of dead people! Because sooner or later, those same airdrops will become the titanic of that coin!

[imutzz]

You have point on that, but bounty campaign is really helping to promote the project by retweeting a tweet or simply share facebook post sure will help a lot, and you have no idea how much people joining in it. In other hand, yes airdrop really attract more people like you say but its only spammers who dang share his refferal link everywhere. But not all airdrops need that affiliate or something like it. Some airdrops really just giving away his token to user and build a strong community, ever heard of blue token ? its 100% airdrops.

[rajatjain]

You have point on that, but bounty campaign is really helping to promote the project by retweeting a tweet or simply share facebook post sure will help a lot, and you have no idea how much people joining in it. In other hand, yes airdrop really attract more people like you say but its only spammers who dang share his refferal link everywhere. But not all airdrops need that affiliate or something like it. Some airdrops really just giving away his token to user and build a strong community, ever heard of blue token ? its 100% airdrops.

Bounty campaigns are way different then airdrops! Bounty campaigns require people to promote a project, talk about it, share it to people but airdrops are simply existing for no reason. I just checked out a website airdropalert and it shows the airdrops where people get coins for just being in their telegram group. I wish there was a stat to showcase how many airdroppers actually invest in the project and i am sure it won't be even 10 percent. A project starts with 100 or 200 legit members but with airdrops we see now 20k or even 50k plus telegram community. That is bonkers!

[imutzz]

Bounty campaigns are way different then airdrops! Bounty campaigns require people to promote a project, talk about it, share it to people but airdrops are simply existing for no reason. I just checked out a website airdropalert and it shows the airdrops where people get coins for just being in their telegram group. I wish there was a stat to showcase how many airdroppers actually invest in the project and i am sure it won't be even 10 percent. A project starts with 100 or 200 legit members but with airdrops we see now 20k or even 50k plus telegram community. That is bonkers!

Yeah haha, but if that user who joining airdrop and get free token help the community im sure the token will be fine and not just some random token. Community is one big reason and will determine the token survive in the market or not. If after aidropt token distributed and user hold it im sure the token will allright.

[Welckomtome]

My opinion about this is that most of these free distributions do not do any good (even there is a possibility that this is data collection) - but some AIR DROPs really bring a big profit if the project is really worthwhile and not a dummy!

[jondel]

If a company who is looking to raise funds in the organic way, they need to ensure they spend real money on some good marketing, making a better product, using youtube and youtubers , influencers for their promotion instead of providing free tokens to raise a army of dead people! Because sooner or later, those same airdrops will become the titanic of that coin!

companies that use airdrop see this airdrop as their marketing tool, and we can not blame them for it. We can see 'Airdrop' practise in the real world are like this: companies are handing out samples of their products so that more people know about their products.

[Hui8]

You have taken lot of efforts to show how airdrops are heavenly ways for the companies to promote their businesses. To be honest airdrops are killer for the ico companies because they are literally giving away millions of dollars which they don't even have any idea whther will get raised in the ico sale or not. Because airdrops which happen before the ico sale are really worst way of marketing the ico. They get people, huge number of people enrolled into the ico but only in the want of free coins and nothing much. If they go beyond the limit then they might need to pay participant from their wallets which they won't do! Then we see the scam projects all over making the red shifts.

[rajatjain]

You have taken lot of efforts to show how airdrops are heavenly ways for the companies to promote their businesses. To be honest airdrops are killer for the ico companies because they are literally giving away millions of dollars which they don't even have any idea whther will get raised in the ico sale or not. Because airdrops which happen before the ico sale are really worst way of marketing the ico. They get people, huge number of people enrolled into the ico but only in the want of free coins and nothing much. If they go beyond the limit then they might need to pay participant from their wallets which they won't do! Then we see the scam projects all over making the red shifts.

My intention was not to show how airdrops are heavenly way to promote. I hold a similar view of how airdrops are corrupting the ICOs and how it will be titanic for them quite sooner than later.