Airdrops Are The Most Important Thing Happening In Crypto

22 Jun 2024

Airdrops are one of the most important developments to come out of the crypto industry. In fact, airdrops will ultimately be the reason that Web3 achieves mainstream adoption. It may seem like we’re already there, with trillions of dollars worth of value invested in crypto markets, but most people in the world don’t have any interest in crypto. They know about it, but they don’t think it’s for them, and there’s a very important and obvious reason for this – Most people don’t have money sitting around for investments. Investments are seen as a luxury to a large majority of the world that lives paycheck to paycheck with very little money in savings. 

However, when people learn that they can get allocations in Web3 protocols without spending money that they need for food and rent, crypto starts to get very interesting for them. In the next few years a wide variety of blockchains, networks, applications, games and other projects will launch with massive airdrops where their users receive tokens in exchange for being early supporters. In some cases these airdrops can extend for years to reward future users as well. 

This sounds insane from a traditional business perspective, but airdropping tokens and allowing a community to have a stake and a say in how platforms are governed is actually very good business. Rewarding people with airdrops that could change many of their lives, will drive billions of users into Web3 and radically change our global economy for the better.

The Airdrop Marketing Machine

Airdrops have become the most important aspect of Web3 marketing, because they will determine the size and enthusiasm of a project’s community. Projects that are thoughtful, careful and generous with their airdrops become legends, like Uniswap, Arbitrum, ENS or Celestia. Meanwhile, projects that don’t make their communities happy will see their liquidity entirely shift to a competitor who promises to put community first. 

During the “farming” process, where users are interacting with applications in hopes of running up enough transactions to qualify for an airdrop, projects have a captive audience that will gladly use the app every day and if the app is actually good, they can potentially be converted into a long term user. On top of that, if they get an airdrop that makes their life a little bit easier, there’s a high chance that they could become a vocal lifetime supporter. Of course, with thousands of different projects competing for attention and liquidity, there will be many hardcore farmers that try to get every airdrop they can, but even they will have their favorite apps. It’s up to the developers to hook their users while they’re farming. 

A Cooperative Economy with Community Ownership

Airdrops are so much more than just free money. They offer an opportunity to distribute power and wealth more evenly in our global economy, and if they become a standard business practice, they could help lift millions out of poverty and give the average people a seat at the table in the world’s most successful businesses. Imagine if traditional tech companies like Google, Microsoft or Facebook rewarded their users with airdrops that gave them the opportunity to participate in the governance of the company, or cash in if they wanted to. How different would our economy be today?

Somnia is currently running multiple community campaigns through platforms like Galxe, Zealy and Guild. These are very good platforms to familiarize yourself with if you want to explore everything that Web3 has to offer.