Airdrops vs giveaways. What is the difference?
A vast number of cryptocurrency distribution which is not an ICO is wrongly labelled as an airdrop by some people. Even some which are into the crypto currency field would argue that airdrops and giveaways are the same. I strongly agree that there are similarities but there are distinct in a way and I will lay emphasis on that in a moment. This podcast episode will be very brief because I will hit the nail on the head.
For the sake of those listening to this podcast and are not familiar with the term airdrops, they are free distribution of digital tokens to multiple digital wallets. Sometimes, airdrop participants have to take parts in little tasks such as promoting the community with their social media accounts, completing short surveys and maybe inviting a few friends. An example of a project that has launched and established itself is Stellar with the token abbreviation XLM which gave away about 19 percent of their total supply in 2017 equally to people who owned bitcoin on block chain wallet. The first stellar airdrop is over, another may be ongoing or organized some other time and additional airdrops may follow. Actually, there are many ongoing airdrops at the moment. You could scout for them and take part in sites like airdrop.io or you go to airdrop channels which are on telegram.
On the other hand, I choose to explain giveaway as a sort of random lottery or competition in which the person who gets the prize doesn’t have to do much. Take for instance an Instagram giveaway mostly conducted by influencers. Anyone can take part because the tasks are easy to complete and it can possibly be something like, follow me on Instagram and the company’s official page, like and comment on certain posts. Nevertheless, the winner or winners of the price are randomly selected. Not every participant gets the price.
To conclude this episode, you can see from my brief explanation how a giveaway is different from an airdrop. Every participant of an airdrop campaign receives the same amount of tokens which is usually shared equally while in a giveaway, random people are selected as winners which in most cases, there are usually few.