To attract an audience to your Web 3.0 project, it is important to know the ways in which they can get practical benefits from it. Traditionally, this is trading and mining. However, there is another method that is also worth your attention primarily because it does not require initial investments from future token holders – this is an airdrop, i.e., free distribution of tokens for a certain activity on their part. Below, our DeFi marketing agency will reveal the potential of this event in more detail and also share a small guide on how to promote airdrop.
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A Few Words on the Specifics of Airdrops
Generally speaking, an airdrop is a powerful marketing tool that involves distributing free tokens of your project among participants who have demonstrated a certain activity: engaged their friends to it, found bugs in its code base, left feedback on the test version of your platform, or something else. To one degree or another, all of these actions should be aimed at one thing: raising awareness of your Web 3.0 solution and demonstrating how to be a cool participant in it.
There are several types of airdrops: standard, bounty, exclusive, hard fork, raffle, and holders, each of which involves attracting a certain segment of the target audience and achieving specific project development goals.
Key Stages of an Airdrop
Here are the main stages that you will have to go through on the way to a successful launch of your airdrop:
- Defining its goals, the potential audience to reach, calculating the number of tokens for free distribution, as well as setting the eligibility criteria and the validity period of your offer;
- The official announcement of the upcoming event, informing people about its conditions and the project as a whole, as well as putting off marketing efforts related to this;
- Checking the participants who left a request for compliance with the airdrop conditions;
- Distribution of free tokens among the participants who fulfilled the conditions;
- Subsequent interaction with token holders to inform them about how they can use them in the future.
Note that in addition to the need to correctly select marketing tools and platforms for promoting the airdrop, you will also have to think about which token exchange scheme will be optimal and what the number of free tokens should be. These are technical aspects that you will need to agree on with your team so that this event will achieve your business goals.
Mistakes You Should Avoid in Airdrop Promotion
There are several typical mistakes that many Web 3.0 solutions that decide to launch airdrops face:
- Poor planning without choosing a specific airdrop coins technique of marketing and setting clear goals, as well as lack of close interaction with the project team to align them with technical aspects;
- Lack of support with generally accepted standards, regulations related to the prevention of anti-money laundering (AML), and know-your-customer (KYC) requirements;
- Incorrect calculation of the number of tokens for free distribution (if you allocate too many of them, 50% or more, you risk facing further depression in their prices, while their excessive limitations can attract an insufficient number of potential holders);
- A meager set of options for further use of tokens within your ecosystem;
- Inefficient method of distributing tokens between participants, which entails delays and errors;
- Lack of general awareness of potential holders of free tokens;
- Poor communication with the community after the end of the airdrop.
Our Successful Case Studies
Being aware of all the possible challenges and knowing the best airdrop marketing methods, we helped dozens of Web 3.0 projects achieve their goals during this event. Let’s look at three of the most outstanding cases below – there, you will find specific ways to implement airdrops, as well as the goals that were set by the projects themselves.
Crypto GPT
CryptoGPT is a project based on the Ethereum blockchain, which at the initial stages of its development stopped at launching an airdrop preceding a full-fledged IDO. Our team proposed to open access to this event only for registered IDO participants. Along with that, we began actively working on community growth by forming a kind of FOMO so that the number of these participants by the start of the airdrop would be as large as possible.
As a result, the IDO helped the project collect the desired one billion US dollars, and the number of community members in this short period of time grew by a record 55,000 people. After the official listing, the project’s coins obtained a forty million daily trading volume.
DexCheck
DexCheck, being another AI-powered solution for crypto and NFT traders, also decided to launch an airdrop as a precursor to the IDO with a global goal of attracting $770,000 in investments and subsequently achieving $20 million in daily trading volume after the official listing.
To engage people in the airdrop, we used Meta Ads, Google Ads, Coinzilla, A-ads, and Bsc Scan Ads, as well as set up cloaking – this helped us bypass moderation on the platforms where we were going to place paid advertising campaigns. Along with running an airdrop marketing campaign, we also implemented marketing strategies for the IDO, listing, and the platform itself. As a result, with a relatively small marketing budget of $43,000, we managed to attract 1000+ users and achieve $26 million in daily trading volume for the project.
ChainGPT
ChainGPT, which is also based on blockchain and artificial intelligence, like other projects, also decided to raise $1,000,000 for its further development during the IDO. A logical stage preceding this global event, as in previous cases, was the airdrop. The secondary objectives of the project were to increase the involvement of community members and achieve a daily trading volume of $40 million on the listing.
The Coinband team decided to offer airdrop participants to subscribe to the project’s social media and community, as well as to attract their friends to this event through referral links. A total of 50 participants who managed to use the largest number of referral links won. As a result, by the end of the IDO, the project collected the required amount of money, obtained 117,000 new loyal users, and achieved a slightly lower trading volume on the listing than was originally planned – $34,000,000.
Of course, these are not all the cases in which we were actively planning and promoting airdrops, but after checking them out, you will be able to understand how individual the approach to launching such a significant event should be.
Final Thoughts
Now that, know what an airdrop is and how to promote it, you will be able to gather a strong, interested community around your Web 3.0 solution in the early stages of its formation. At the same time, you should understand that the airdrop promotion may require a lot of effort, and its overall success will depend on the correctness of the sequence and the methods of implementation.
If you don’t want to be wide of the mark every time, risking your marketing budget and the reputation of your project, feel free to contact Coinband representatives, and we will select for you an individual airdrop marketing strategy aimed at obtaining the best results.
