What is an airdrop?

Airdrops turned into a strategy that was more than just marketing. As a strategy to promote currency value, currencies would announce airdrops in which coin holders would receive bonus coins equivalent to the number of total coins they own. Coin investors who wanted to take part in the airdrop would have to buy the coins if they didn't already have any, or buy more if they desired a larger portion.

In the cryptocurrency and blockchain ecosystem, the term "airdrop" refers to the distribution of digital assets to the general public, either as a result of holding another token or simply by having an active wallet address on a specific blockchain. An airdrop is when a cryptocurrency token or coin is given away for free to several wallet addresses. Airdrops are commonly utilized to attract new followers and increase the number of users, resulting in a larger user base and more coins being dispersed.