What is a cryptocurrency airdrop?

Airdrops (or drops for short) are events where a web3 team fund your cryptocurrency wallet with their crypto token or NFT.

Why do crypto airdrops exist?

The article analyzes the 12 most prominent projects (from 2014 to 2022) to understand why projects are issuing tokens. Finds that marketing and decentralization are the main motivations for drop. Additional reasons in favor of drops include the creation of liquid markets and tax implications.

How do crypto drops work?

Generally, to qualify for an airdrop, you must meet certain requirements. These requirements are determined by the project and can include anything from simple social registration to interacting with the protocol and deploying your smart contracts in the new blockchain.

Pros and cons of crypto drops

Individual success stories like Arbitrum, Aptos or Blur drops have led to an entire industry of drop hunting and the creation of bot farms. This audience distorts project metrics and negatively affects token price and community strength. And developers are trying their best to weed out casual users and make tasks harder all the time so that only true fans of the project can complete them.

One of the latest approaches is the requirement of projects to deploy their smart contracts in new blockchains.

Envelop for drop hunting

Here again Envelop meets the market demands. The project proposes not just to mint NFTs in new blockchains, but also to deploy (if required) smart contracts in new blockchains. And all this in a few clicks and without code skills.

Here you can find the step-by-step NFT minting guide, or watch the video

To add new EVM blockchains to the mint dApp, Envelop suggests users simply write a tweet:

@Envelop_project please add #chain to your #NFTs mint #dApp https://app.envelop.is/mintnew

Envelop is a collateral-backed and price discovery cross-chain protocol to provide NFT with inner value and liquidity.

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