Web3 Companies and the Absurdity of Current Industry-Wide Airdrop Policies

IconCryptoNewsTerminal Staff25 Jul, 2024

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Web3 Companies and the Absurdity of Current Industry-Wide Airdrop Policies

Kim Se-jun, CEO of Hashed, a domestic blockchain investment firm, recently highlighted the absurdity of the current industry-wide airdrop policies through X. He believes that while many Web3 companies are struggling to attract users and gain traction, these policies are creating unfair advantages for a select few. Airdrops, which involve distributing free tokens to users, have become a common marketing tactic in the crypto space. However, Kim argues that they are often used to reward existing users rather than attract new ones. This creates a situation where companies with large user bases can easily acquire even more users through airdrops, while smaller companies are left behind. Kim proposes that Web3 companies should instead focus on developing innovative products and services that will attract users organically. He believes that this is the only way to create a sustainable and equitable ecosystem for the industry as a whole.

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