The Psychology Behind Airdrops

Hey dear community, first of all I would like to welcome you all to my new contribution and hope you had a weekend full of interesting experiences! In this article I would like to discuss a psychological topic and hope you are able to expand your knowledge.

In the Crypto universe you often see the principle of Airdrops which is a method that is often used by new projects and the principle is always the same and it is about distributing certain tokens or other values for free and usually the users have to complete some small tasks and are then rewarded for it. For smaller projects, it is a good strategy to draw attention to themselves and generate more users and from a psychological point of view, the attraction after something free is the most important and with this strategy companies build a basis of trust with the users and it comes to people building a positive connection to a certain product and also reporting about it. The attraction for something free ensures that people talk about it and share this experience with others and this has the consequence that there is a network effect and the project is gaining more and more growth and very important here is the effect that people want to thank each other for the gift and a feeling of reciprocity arises and this has the consequence that more people invest in this project and this effect is also called in the marketing area reciprocity effect. Due to the fact that people usually have to do small tasks in order to receive the reward, the reward system of the human brain becomes active and there is an emission of the happiness hormone dopamine and these moments as well as the emotions experienced in the process are stored in the subconscious and linked to the project, which has the consequence that people build up a particularly intense trust with a certain product and thus the willingness to buy is increased. Often airdrops are also limited, which has the consequence that it comes to a fear of missing out effect and people are afraid to miss these moments and there are different kinds of airdrops that each address different target groups and some airdrops are particularly designed to reward existing customers, which creates an additional sense of trust and rewards the customer for the continued loyalty.

Thank you very much for stopping by and I hope you could learn something new about psychology behind this interesting topic!