An Airdrop is an instance of a company distributing its tokens free of charge. Airdrops are generally accessible to anyone who provides their public address where tokens are be sent, even though some cases some additional criteria must be met.
The purpose of Airdrops
Airdrops are marketing moves that allow rewarding loyal customers while also attracting additional attention to the project by giving out cryptocurrency. Even though Airdrop amount per person usually is minimal, they typically draw a lot of attention. Companies also market Airdrops extensively in the hope to attract new users or investors.
Airdrops are excellent lead generation tools which ensure that potential customers not only gain knowledge about a particular product but also interact with it. Airdrops are also often used to create awareness about a new cryptocurrency. After receiving an airdrop a lot of people head to the exchange to sell their tokens, boosting liquidity.
How to take part in Airdrops
To participate in an Airdrop one needs to have a cryptocurrency wallet that is compatible with the token that is being distributed. The majority of the tokens on the market are ERC-20 based, so a cryptocurrency wallet such as MyEtherWallet or MetaMask will be sufficient for most cases.
There are specialized platforms that track and notify users about upcoming Airdrops.
Some examples of such platforms are: