An airdrop is a distribution of free cryptocurrency or tokens usually done as a marketing tactic by new projects or less popular projects.
The purpose of giving free crypto via an “airdrop” is to increase user adoption, boost community engagement, or simply build awareness.
A cryptocurrency or token creator might offer airdrops at the very start of a project’s release to the public to hopefully increase the number of people using it, or they might use an airdrop with an existing community as a way of giving thanks to early adopters.
Some crypto projects build in simple tasks that would-be airdrop recipients need to complete before they actually get the airdrop, like sharing news on social media about the project, while others host contests and giveaways, where airdrops are the prize.
Airdrops won’t make you rich, as they’re usually a small amount of actual cryptocurrency.
With the increase in the number of cryptocurrencies offering airdrops, there are websites and social media accounts dedicated to keeping up with the latest airdrops across the entire cryptocurrency market.
But beware, some airdrops can be used to scam would-be participants.