Airdrops Don't Help Projects Grow, Says Last Netowrk CEO

Airdrops Don't Help Projects Grow, Says Last Netowrk CEO

The CEO of Last Netowrk, an EVM-based Layer 1 and Layer 2 project, has stated that "It's time to stop believing that airdrops help projects grow" in a contributed article on Blockworks. He emphasizes that "After running a crypto startup for more than ten years, I believe it's time to announce a paradigm shift. Airdrops have already lost their effect, and developer subsidy programs will soon follow. Blockchain projects must now create long-term and value-driven models that can secure users' and developers' loyalty, rather than relying on short-term incentives. Otherwise, it will lead to stagnation and regression across the industry." The CEO's comments come amid a growing debate about the effectiveness of airdrops as a marketing tool. While airdrops have been used to great success by some projects, others have found that they have little impact on growth. The CEO of Last Netowrk is not the first to criticize airdrops. In a recent interview, the co-founder of Ethereum, Vitalik Buterin, said that he believes airdrops are "a waste of time." It remains to be seen whether airdrops will continue to be used as a marketing tool by blockchain projects. However, it is clear that the CEO of Last Netowrk's comments have sparked a debate about their effectiveness.