Quote from jeruweb3 on October 18, 2023, 6:20 pm

Cryptocurrency airdrops have been a prominent topic in the crypto space, but some might argue that their appeal has waned over time. Reflecting on my initiation into the world of cryptocurrency in 2019 and 2020, a period marked by the widespread COVID-19 lockdowns, I recall my resolute desire to make money as a university freshman. My journey began when a friend introduced me to cryptocurrency, providing me with rudimentary guidance in technical analysis, focusing primarily on concepts like trend lines, support, and resistance. He then left me to navigate this intricate landscape on my own. I also invested in paid classes, which, regrettably, failed to yield profitable results.

What's more, I haven't even touched on how I initially acquired the funds to enter the world of crypto. During the COVID-19 pandemic, while I was a university freshman, we were abruptly evacuated from the university hostel. I returned home and embarked on a laborious endeavor to assist my mother in selling cement, a physically demanding task that compensated me with only meager earnings per bag. Nonetheless, it was this hard-earned money that I channeled into my cryptocurrency endeavors.

As I commenced my cryptocurrency journey, I encountered a series of financial setbacks, experiencing repeated losses. However, there was a glimmer of hope when I stumbled upon educational resources on YouTube. These videos enlightened me about the utilization of Uniswap, a decentralized exchange. I distinctly recall witnessing Bitcoin at $8,000 and Ethereum at $120 during this period. It was during this phase that I participated in the Uniswap airdrop, which, unfortunately, I lost due to my novice status. I encountered several rug pulls and scams, which ultimately led me to abandon my cryptocurrency pursuits.

Nevertheless, I eventually rekindled my interest in the crypto space and participated in my first airdrop. Regrettably, substantial airdrop opportunities have been elusive since that time.

 

in my personal opinion, I believe that the hype surrounding cryptocurrency airdrops is dwindling due to several factors reshaping this space.

Market Saturation: With thousands of cryptocurrencies in existence, the sheer number of airdrops can be overwhelming. The saturation has made it difficult for airdrop projects to stand out, leading to less enthusiasm from potential participants.

Regulatory Scrutiny: As the crypto space matures, regulators worldwide are taking a closer look at cryptocurrency-related activities. Some airdrops may now require compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, deterring privacy-conscious users.

Quality Over Quantity: Many early airdrops were of low quality, and some even turned out to be scams. As the community becomes more discerning, quality projects are prioritized over quantity, leading to less enthusiasm for random airdrops.

Token Utility: Users are now looking for airdrops that offer tokens with actual utility within the project's ecosystem, rather than speculative tokens with no clear purpose.

What Do You Think??