Sirwin
Sirwin
Raindrops keep fallin on my head

Airdrops keep fallin' on my head

By Buzzbeeg | The Crypto Cave | 6 Jan 2024


Airdrops keep fallin' on my head

Raindrops keep fallin' on my head

I am not saying that airdrops are the only way to get rich with crypto but if you aren't taking advantage of them you are missing out! For instance, on September 17th, 2020 early Uniswap users were given 400 $UNI each. At the height of the last bull run that could have sold for 43 dollars per token or $17,200! Even those who sold early at 3.46 per token still received 1300 dollars for being an early Uniswap user! Not bad!

Of course, no one knew there would be a Uniswap airdrop and even those in the know didn't know how successful the token would be. But there were rumors surrounding a potential airdrop so smart users made sure to do all of the tasks that could trigger it. Those users were smart to do so.

Are there rumors surrounding other projects?

Oh yes!

The most famous one is MetaMask.  A quick search on CoinMarketCap will bring up a page dedicated to a MetaMask token that doesn't exist yet. At the top of the page, it says: This page is a placeholder for the eventual MetaMask token, which ConsenSys CEO Joe Lubin and Jacobc (then MetaMask Ops Lead, and current advisor) have confirmed. There are no further details at the moment.

I think it's reasonable that a Metamask token will eventually launch. Is it wise to use as many features as possible that MetaMask offers at least once to make sure you're eligible? Yes! But beware! There are tons of scams out there pretending to be a MetaMask airdrop. Don't believe anything unless it comes from MetaMask themselves.

In the Meantime...

 

There are plenty of other great airdrop opportunities going on besides MetaMask. Some of my current favorites include:

  • Blast
  • Eigenlayer
  • DOP 

If you are interested in jumping on the airdrop bandwagon you should check out my Substack article to learn more!

Fun airdrop facts to end the article!

  • YugaLabs distributed $258,000 worth of $APE tokens to each YugaLabs NFT holder!
  • Airdrops are considered taxable income and you will need be taxed on the full value of the tokens.
  • There are websites dedicated to farming them like airdrops.io.
  • Worried you missed an airdrop? Check out Earni.Fi

Have fun hunting those airdrops!

 

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Notes and Disclosures

This post is provided for educational and entertainment purposes only and should not be relied upon for business, investment, taxation, or legal advice. Certain information presented is gathered from third parties and has not been independently verified. The views expressed here are those of the individual author and are not the views of 1.2 Labs Inc. or its affiliate firms. If you decide to buy or invest in anything, then your returns and potential losses are your own. No statements about taxation are taxable advice and you are encouraged to consult your own tax professional. No statements are legal advice and you are encouraged to consult your own legal professional. No statements about investing constitute investment advice and you are encouraged both to do your own due diligence research before investing and to consult an investment professional in that process.

Finally, as the author of this report, you should recognize that I do actively invest. Many of my trades are quick and I do write about many investment items, whether stocks, coins, collectibles, and the like which I do not own. For the purposes of disclosing any conflicts of interest, assume that if it is covered, I own the investment item. Or if my coverage is negative that I am short the investment item.

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Buzzbeeg
Buzzbeeg

I work for several Cryptocurrency projects including Silica neXus and Divi Project. I also write on Quora and share many of the same posts that I share here.


The Crypto Cave
The Crypto Cave

The fun side of crypto; making money, blockchain games, and learning. Like my thoughts on Crypto? Check out my Quora space: https://cryptocave.quora.com/ and 🔥Subscribe to our Free Investment Newsletter. https://theartofthebubble.com/newsletter/🔥 This post is provided for educational and entertainment purposes only and should not be relied upon for business, investment, taxation, or legal advice.

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