You are currently viewing Nonfungible airdrops: Could NFA become the next big acronym in the crypto space?

Nonfungible airdrops: Could NFA become the next big acronym in the crypto space?

Airdrops have become the bread and butter of the crypto world — for good reason.

They’re an indispensable marketing tool for up-and-coming projects that want to create a buzz around their ecosystems.

Done right, distributing free tokens to the public can help elevate demand — and unlock big benefits for recipients. After all, if these altcoins end up being listed on major exchanges at a later date, their value could explode.

Unfortunately though, downsides have started to emerge. These campaigns aren’t just reaching enthusiasts who passionately believe in what a project has to offer, but “airdrop hunters” who are merely scouring for ways to turn a quick profit.

Airdrop hunters typically want to sell off the tokens they’ve received for free — as soon as they can. And for cryptocurrency projects at their very early stages, this can be bad news — undermining carefully cultivated tokenomics and causing the value of a coin to

Keep reading this article on Cointelegraph.com.

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