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RE: AIRDROPS - do you LOVE OR HATE them? or simply don't care?

in #blockchain6 years ago

If we were not considering what the investors or people receiving the airdrops feel, I will say that this is the oldest marketing trick on the table. (free Spotify for the 1st month)

AIRDROPS as we know them are purely marketing strategies to penetrate the crypto market. And in my opinion, if I am an investor, I would completely support AIRDROPS. Why? Because AIRDROPS level up the current marketing game. In conventional freebie marketing strategies, businesses give out their product for free and hope that the customers would like their product and continue using it. Although under the AIRDROPS strategy you are giving away tokens (a.k.a, in some sense, shares of the company) and not your product. So if the person receiving the tokens wants to maximize it's value, the best way would be to promote the product. It kinda takes the shape of a referral program marketing strategy.

Here is an analogy. As an investor I would give a few dollars for free to increase the worth of the dollars I am holding. And I know that giving away those free dollars will increase my dollar's worth because the receipient has to promote my dollar's to get the value out of his dollars.

(Dollars were probably not the example to be taken but who cares they are doubling themselves in my account XD)

On the other hand, as an investor I would definitely want to know the distribution strategy of these tokens before hand. And this is why I agree with what @crypto.piotr had to say in his last paragraph.

This is my perspective on AIRDROPS it can be wrong, it can be correct. As my professor at Berkeley used to say, "Always do your own due diligence."

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Dear @chirag-parmar

Piece of amazing comment! Thank you for taking the time to share your thoughts with me.

Finally I'm having a chance to read and reply to all comments. Past few days were not fun (I had birthday yesterday and I've spent entire day sick in bed - sucks).

And in my opinion, if I am an investor, I would completely support AIRDROPS

We may have different views on that matter ... but I love to hear opposite opinions. Always makes me look at things from different angle. Big thx for that!

ps.
I would like to ask you a question. What is your opinion on KYC required by so many airdrops?

Personally I strongly believe that each crypto/ICO that require KYC should be required by law to receive licence that would allow them to proceed with KYC. And in order to receive that licence, they would have to prove to local authorities that they follow some security standard and all collected informations are safe.

My biggest worry is the fact, that right now anyone can claim that they are "forced by regulators" to proceed with KYC and this is currently the easiest way to collect our personal data by 3rd parties. And we cannot know how well secured those datas are. We cannot even know if company is legit and isn't planning to sell those data to another 3rd party.

Have a great upcoming weekend :)
Yours, Piotr