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In 2017,
Larva Labs created 10,000 unique icons of heads belonging to stylistically Punkish human beings.
Most of these punks were distributed for free to members of their community.
Today, some Crypto Punks are worth millions of dollars, with the cheapest one sold recently bought for $53,174.
The process that LarvaLabs used to distribute these Punks to their community members is known as an Airdrop.
There are different ways to qualify for crypto Airdrops.
Here are some examples ;
Following and engaging with content on social media.
Being an early community member.
Completing certain tasks will help increase your Airdrop Allocation.
In the early days of Crypto, Airdrops were mainly used to create awareness about Cryptocurrency.
Gavin Andresen's Bitcoin faucet was one of the first and most popular airdrops.
Gavin was one of Bitcoin's early developers and his faucet paid users 5 Bitcoin per claim.
Back then 1 Bitcoin was still worth cents unlike now where 1 Bitcoin is around $59,000.
People who claimed those Bitcoins then and held them became multi-millionaires.
Currently, airdrops serve the same purpose of creating awareness,
Not just for cryptocurrencies as a whole, but for specific projects aiming to get more people to onboard their platform.
And the more people use those platforms, the more valuable the platform and the tokens that power them become.
Now if you are new to crypto, this concept of Free Money might not make sense to you.
You may ask.
Why don’t they just run Ads like normal companies instead of sharing money to people ?
You need to understand that the concept of cryptocurrencies is a threat to world governments.
Governments want to be the only entity that can issue and control money.
This has been one of the reasons for the fight against cryptocurrencies.
So Facebook and other major advertising platforms were forced to ban crypto related Ads.
And this is similar to the early fight against the internet.
The Internet gave us a democracy of information.
Making it hard for the government to control narratives with newspapers and other forms of offline publishing.
Even today, you see the government of some countries turning off internet connection and access to certain platforms.
Cryptocurrency is giving us the democracy of Money.
Anyone can connect to it and create wealth for themselves without needing to depend on factors controlled by the government.
Till today, Inflation is still a major issue globally, prices of things keep rising and rarely go down,
While earnings remain largely the same.
The challenge with Airdrops is to find the ones that are not scams.
And have a high probability of doing well.
Experience with crypto is needed to be able to weed out the bad eggs to a great degree.
This is why I set up an Airdrop directory for my community members.
Introducing Sound Money Earn
I started Sound Money last year to help people without trading skills earn at least $300 Monthly from the Financial Markets.
Access to the community is Free but people joining needed to meet other requirements.
This year, I noticed a lot of frenzy around Airdrops and decided to create a new arm of Sound Money to cater to that.
We currently have four airdrops that we are participating in.
I believe that one of the biggest benefits of airdrops is not the Free Money.
The crypto space offers immense opportunities and by participating in one way or the other, you start getting access to these opportunities.
In August 2021, I stumbled upon a Tweet about NFTs.
Less than three months later,
I have built an NFT portfolio worth over $30,000.
That $30,000 all came from Airdrops.
But I didn’t stop there, because I had the skill of writing,
I went on to create an NFT guide.
A lot of people had an interest in NFTs then but didn’t know their way around it.
I have been able to sell over 700 copies of the book so far.
This doesn’t include the thousands of dollars earned from consulting and helping people launch NFT projects.
So you see, the goal of participating in Airdrops is not just to claim tokens and hope they do well.
The more you participate, you will get access to information that you can leverage in so many ways.
Some people who bought my guide are making thousands of dollars working for crypto companies around the world.
If you see Airdrops as just a way to earn free tokens,
You will have a limited worldview and won’t even be as active as you should be in the crypto ecosystem.
I hope that this post has given you a more intentional way to approach it.
Also, participating in Airdrops doesn’t mean you automatically understand all things crypto.
If you join the community, you will gain access to weekly sessions where we talk more about the right mentality to approach crypto with.
And other opportunities present in the space.
Below are our community links
Telegram Community: Sound Money Earn
WhatsApp Community: Sound Money Earn
Airdrop Listings: SMearn.com
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Thank you
I am part of your community Mr Ajulu and I've learnt alot.
After one of our sessions, I got a epiphany and I decided to test it. So I asked people around me both successful and average people what they thought and knew about Web3 and I realised many Nigerians were laggards in that case.
So I felt the need to start educating people about it on substack, more like a Web3 evangelist. I know it might be a long shot seeing I'm also new to it but I have seems to me that it is a new 'government' that will overthrow the internet.
I have decided to embark on a research mission before releasing content but even worse than fact based information is a misguided study. If there's anyway you can contribute to this journey, either by sharing resources, guides or any form of follow up, it will go along way.