- An Airdrop is primarily involving crypto projects sending free tokens to a select few of the loyal community members with an intention to encourage adoption.
- Another goal of the airdrop is to ensure a fair distribution of tokens and the overall interest that gets generated get reflected in the tokens price increase.
The recent Russia-Ukraine crisis has seen many facets of cryptocurrencies, which many had not ventured into. From crypto donations to using cryptos as an alternative mode of payment service to now crypto airdrops.
Though the concept is not something new in the crypto world, but with Ukraine announcing a promotional airdrop as a reward to those who have helped the country in funding int its war against Russia has created a buzz in the market.
Ukraine had raised US$47 million through donations in leading cryptocurrencies such as Bitcoin, Ethereum, Polkadot, etc.
An Airdrop is primarily involving crypto projects sending free tokens to a select few of the loyal community members with an intention to encourage adoption. Another goal of the airdrop is to ensure a fair distribution of tokens and the overall interest that gets generated get reflected in the tokens price increase.
Let’s have a look at a few of the crypto airdrops that have been creating a buzz in the month of March.
- Matrix AI Network
Developed as a fusion of new generation blockchain and Artificial Intelligence technologies, the Matrix AI Network helps in building revolutionary crypto that is quicker, flexible, and provides high-class security under malicious attacks.
The Matrix AI Network is a collection of NFTs game characters that explores the undersea world. Set in the mysterious and borderless ocean, the OceanPark is a blockchain-based game that allows users to collect resources, and unique characters such as sharks, dolphins, squids, etc.
The Matrix AI Network will be governed by its native token MAN and the airdrop is expected to take place between 5 March and 16 March. The total airdrop amount will be 30,000 NFTs.
The MAN token was trading at US$0.019499 with a trading volume of US$394,752 over a day as per CoinMarketCap. The MAN token was down by 5.88% with a live market cap of US$4,178,660. Around 214,302,042 MAN coins in circulation.
Mind Music is one of the unique record labels, which is powered by cryptocurrencies. As a record label, it has been gaining traction largely due to the buyback and token burns for its holders. According to the website, 20% of the total profits from the record label will be used to buy and burn. The rest will be donated to suicide prevention and mental health charities.
The Mind Music NFTs are a collection of publicly available NFTs, which gives the users access to a physical copy of the Mind Record’s very first physical album release. The Mind Music will be governed by its native token MND, and the airdrop is expected to take place between 7 March and 16 April. The total airdrop amount will be 30,000 NFTs.
The MND token was trading at US $2.03e-9 with a trading volume of US$120,392 over a day, as per CoinMarketCap. The MND token was down by 6.74% with a live market cap of US $1,011,993 and 498,189,654,056,301 MND coins in circulation.
GEMS Esports 3.0 Platform
GEMS is an Esports NFT social sharing portal that aims to connect the blockchain-based gamers and convert GameFi into the next Esports. The GEMS Esports 3.0 platform exposes the young gamers to the concept of new sharing economy.
As a metaverse game, it offers a 360-degree fully immersive gaming experience. The GEMS airdrop will be a collection 1,000 NFTs and is expected to take place between 15 March and 21 March. A few can win prizes worth US$100,000.
Overall, airdrops seem to be one of the quirkier ways to promote a project and expand its adoption. But as a market participant, one should also be wary of various scam projects that claim to give you airdrops and get the details. It is critical that the market participants do their proper research before getting swayed by freebies.
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