Airdrops in 2024: Breakdown and Predictions To Make $$$

Airdrops demystified successful ones and failures and what we can learn from them to predict the biggest airdrops of 2024, how to get access to them and how to not get scammed.

Today I'll be sharing a step by step guide on farming airdrops and making huge amounts of profit. Aptos Blur, Celestia Meanwhile, airdrops are all the rage right now. So in this video I'm going to demystify all the world of airdrops, how it even works, where to put your money, and our top three predictions for airdrops in 20 that you need exposure to to make life changing amounts of money.

So what even are airdrops? Well, an airdrop is basically when a project distributes a portion of their token supply to early adopters of their project as a growth mechanism. Basically, it's like rewarding someone for using your product early on as a way to grow the product. Think of it like a crypto giveaway that gives their early adopters a token that can increase the supply, that can increase the decentralization and can reward all of those users that use that project early on to spur on innovation and spur on for future potential users. Airdrops. For people that aren't familiar, it's basically the closest thing you can get to making free money. Although there isn't such thing as free money. Another way to think about it is these projects are basically paying early users to use the product, give them feedback and to figure out how they can improve the project. Although it's a bit more of a giveaway because they don't necessarily tell you you're gonna get paid, you just might get rewarded in tokens down the line. And what's been most exciting about this is just the sheer volume and size of these airdrops that some of these projects have distributed. When you think about some of the market caps that we're if you distribute 5%, 10% of your token supply to early users, this has turned into tens of thousands and for some people, even hundreds of thousands of dollars completely free. So let's take a walk down memory lane and have a look at some of the most successful airdrops to date. To give you a bit of an indication of how much money you can actually make, Uniswap was the first crypto project to popularize the airdrop back in September 2020. They rewarded early adopters with an airdrop of their underlying token uni. An average of 618uni were available to be claimed by anyone that used the platform before September 1st, worth thousands of dollars. Next big one was Dex Dydx who airdrop millions of tokens to early users, with some users receiving airdrops over $50,000. These are two really great platforms that we now use in our everyday world in crypto, but may not have been very popular back then. So basically what they do is they offer these new products, these new services that may be new technology, especially Uniswap back in the day, you know, a Dex where you could swap different tokens, completely decentralized. It was a very new world and there was a lot of trust that needed to be built. So to bring people on platform, rather than making the user pay to use the platform, actually paid the user to come on and do it through that airdrop. And it's exactly what's happening right now. These new projects, new technology, new exchanges, offering their services up, marketing it to the general population and then offering an airdrop for those people that utilize these platforms. And through research that we've done, you can actually then predict which platforms may be offering airdrops to reward their early users. And then we can go in and use these products and services right now, utilize them, spend some money on them, actually utilize their product, and then be rewarded down the line with future airdrops. The biggest airdrop of recent times was actually apecoin that came off the bored Ape Yacht Club NFT who airdropped over $8 billion to their NFT holders, which is absolutely bananas. But just holding a bored ape Yacht Club nft you basically got gifted a absolute bucket load of free money. It's absolutely crazy. And then some recently that we were actually able to cover and some of our members made life changing amounts of money was Jupiter, JITO and Celestia, which are three absolutely massive airdrops that have come out in the last few months which have been game changing for a lot of our members as well. Now by analyzing all of these airdrops and seeing what projects airdrop, what sort of products we can then analyze to give us some strategies to go and execute ourselves to try and what's called Airdrop Farm where you're predicting these airdrops in advance so you can get paid this free money. So I'm going to walk through with you now some of the strategies that we're using and our members are using to try and get some of these free airdrops. Number one is to provide staking like Atom so you can actually stake some of your cryptocurrencies on the blockchain to secure that blockchain and they may reward you with airdrops in future. This is quite popular for new layer ones that offer stake and it's a way that they can reward their early adopters by staking and making that blockchain more secure by giving you an airdrop in the future. Number two is participate in governance. So if your token has some sort of governance structure, especially with daos, you can utilize your tokens to participate in votes and in the future that token may give you more tokens for thanking you for participating in the early governance voting. Number three is finding niche blockchains and niche tokens. Rather than scattering your investments across Ethereum, for example, you can go deeper and find an obscure Ethereum layer 2 or go into like Cosmos chain for example, go a little bit deeper. And this is what's happened recently with Solana. How many people were paying attention onto the Solana tokens on top? So for example, some of the Dexes are being released and some of the projects like GTO and Jupiter. These are obscure projects that aren't easily accessed by the public, which makes it easier for these projects to distribute tokens to the early adopters because the early adopters are truly early adopters, not just people in the general ecosystem. Also using test nets. Often cryptocurrencies will launch test nets to the public to get feedback and make sure there's no bugs in the system. By using these test nets you can again you'd be rewarded in the future by actually using some of these new projects. Another interesting one is actually just by being active in discord channels. So we've seen a number of cryptocurrencies that are giving away airdrops from people who have been active in discords. So they basically go and export a bunch of data and see who are the people inside these discords that have added the most value and they've been distributing tokens to those active community members, which has been super cool. Also, some things to avoid are be avoiding anywhere that's marketing airdrops like CoinGecko or CoinMarketCap or even if you see advertising on YouTube or Instagram. These simple marketing tactics are more or or less just a way for people to make money who are creating the project, not for you to actually be rewarded from a valuable project. Also, I'd be considering who actually needs a token. If you're looking at projects or you may be looking at different products. For example, Defi Llama, for example, has an airdrops page. I don't really think they need a token. So Just be wary of that of airdrop farming. Things that may not actually particularly need a token because they end up launching a token and may not actually have any genuine utility and may not actually be worth much. The other thing you need to be careful of is actually airdrop farming yourself. More cryptocurrencies becoming more advanced and figuring out who are airdrop farming for the sake of just getting the rewards versus genuine early adopters. But at the end of the day, most airdrops fall under two categories. One is NFT collections and two is DeFi. DeFi usually is where the most value is created. If you're looking on Ethereum or Solana or some of the niche chains, this is where you particularly need to be looking. Now, lucky for you, on this video I'm going to be sharing with you our three biggest predictions that we've taken from our Airdrops page that we have exclusively for our members. You can have a look on the page here. We actually do airdrop ratings from projects that we believe have the highest potential of getting an airdrop. And our analysts are working full time to find these to give to our members to get ahead of the herd. And we're able to claim projects like Celestia, Jupiter, Jito, Igenlayer. There's been some massive wins our members have been able to get access to purely from this airdrops page. I'm going to give you three right now that we believe have the biggest potential for 2024. The first one is Infinix, which we believe is shaping up to be one of the biggest launches of DeFi in 2024. Infinix aims to combine the ease of use of a centralized exchange with the ethos and self custody of Defi. We expect Infinix to launch a native token, making it a prime candidate for an airdrop. Infinix is an exchange I'll be looking very closely at. The reason I say this is I was actually on a panel with one of the founders in Sydney recently and we got chatting after the event and what they are building over Infinix with the team built from Synthetix is super, super exciting. Most of the cryptocurrency derivatives trading volumes currently goes through centralized exchanges and what they're building at Infinix is a defi version of that with a UI that looks like a centralized exchange built off. The success of the Synthetix team that was built by one of the Warwick brothers here in Australia gives me so much confidence that what they're building is going to be super, super valuable. And I think utilizing that infinite exchange now to give you an upcoming airdrop is something that you should be paying a lot of attention to. Secondly is Igenlayer which is a restaking protocol, another one that I'm super excited about that I've put a lot of money into. It sounds like jargon is rather simple. Eigen Layer aims to reuse the vast amount of economic security staked eth powering the Ethereum blockchain and lending it to others who cannot afford security immediately. Using and lending tokens on Igenlayer could be the best way to qualify for a potential airdrop. We believe Eigen Layer could be a top 100 token when it's launched mid year and we fully recommend you to go over and stake your eth or SW eth on the Igen layer network to get the potential airdrop coming up. They are opening and closing their doors in terms of staking, so head over and check it out whenever you watch this video and try and get some ETH staked on there. And lastly but not least release is the Solana ecosystem. There's so much happening on Solana and so many airdrops that are coming up every day it seems Jupiter and Jito were two big ones that are coming out and there's a couple other ones that I'll be checking out on the Solana ecosystem. The reason being is that Solana is still a relatively new ecosystem for a lot of these dapps that are being created and Jupiter is one of those with a decentralized exchange that I've been using to swap my Solana tokens across the Solana ecosystem and it's been a great exchange. I unfortunately missed out on the airdrop because I utilize it after the snapshot, but here are two or three other ones that I think you should be paying attention to. One is Phoenix Tensor and Drift. Tensor is one of the top NFT marketplaces on Solana and is currently running a point system. If an airdrop occurs, the number of tokens received will likely depend on points earned. So if you like Solana NFTs or you just want to get a part of the airdrop, I'd recommend going over signing up for Tensor. You might need one of the Solana wallets like Phantom and you can start to swap NFTs on that platform. The next one is Phoenix, a Solana based order book exchange. Trade on the exchange to potentially qualify for an airdrop if they tokenize. This is another one very similar to Jupiter just by going over and using the exchange making some trades, you know, earning some fees, this is going to qualify you for a potential airdrop. And last but not least is Drift, a perpetual Dex protocol in Solana. Connect your wallet, trade on the exchange stake or provide liquidity and that may qualify you for an airdrop. Again, none of these make it very obvious or specific how and when they do the airdrops, but we've done a lot of the work and research to give you the top ones that we believe are going to be the biggest in 2024. So connect up some eth, connect up some Solana, go over, use these platforms and see if you can qualify for hopefully life changing amounts of money later this year. Now I've given you these predictions. It's also very important to understand the risks associ with airdrops. There are so many airdrop risks and scams going out there, especially if you're looking in your MetaMask or maybe your OpenSea wallet and you're seeing all these airdrops that you don't even know appearing in your wallet. More likely than not, if there's something showing up in your wallet that you don't know what it is, it could be a scam. And by clicking on one of these tokens or these NFTs, they usually have code in them that can Basically drain your MetaMask or your Web3 wallet and give all those tokens back to the scammer that gave it to you. So if you don't know what it is, please leave it alone. Now when we say airdrops give you free money, they're not exactly free money because you're actually utilizing these exchanges or protocols you're transacting, you're buying NFTs, you're using fees, you're losing money in spreads. It's not exactly free. So just be wary of this when you're using these platforms or when you're staking cryptocurrency. This is not free, you may not get your money back, and the token itself may be not valuable at all. So just be wary of that. There are risks associated and it's not completely free. Next, you may not actually be able to claim your airdrop based on where you live. Some of the airdrops over the last six months have actually been banned from US based crypto investors. So please be wary of that based on your jurisdiction that some places don't actually allow you to claim your airdrops as well as if you're too late and you don't claim your airdrops within the airdrop period. You may also lose out on being able to claim that. So make sure you're staying up to date with information and you understand the jurisdiction that you're in and that you may not actually be able to get access to it based on where you live. Also, another thing to be aware of is tax. Unfortunately, yes, depending on where you live, you do need to pay your taxes. And airdrops also come under the taxable event category depending on where you live. So make sure you speak to a tax accountant or a specialist crypto tax accountant to make sure you're getting the best advice price possible. So always be careful when you're trying to get some airdrops coming in. There's a lot of scams, there's a lot of opportunities to lose money and just be wary that, you know, this takes a lot of time. And what we're trying to do with Collective Shift is save that time because you can spend a lot of time and a lot of money looking for these airdrops, but eventually not actually even make that much money, especially if you miss out on the right opportunities. I know for a lot of our members, they just don't have the time doing all the work themselves. That's something we're really trying to cut down on because you can spend hours and hours and hours in this space trying to claim airdrops, trying to airdrop farm, and what you end up doing is just spending a bunch of Ethereum, spending a bunch of Solana, and spending a bunch of time not actually getting that much back and not being worthwhile. So if you are a member or you're looking to take things a little bit more seriously, please check out our resource. It gives you a step by step guide on where we think you should be paying attention to to get those airdrops. Now, if you're still overwhelmed with your crypto portfolio, I created a video here that you should check out, which is our seven steps to unscrew your crypto portfolio. I highly recommend checking that out. And as I mentioned, if you're ready to take crypto more seriously, or if you want to take advantage of more crypto airdrops, head over to Collective Shift and check out our airdrops page and I'll see you on the next video.