After the last bull run and the raft of lawsuits that came out of the initial coin offering mania of 2017 and 2018, it was generally believed that ICOs were dead in the water.
“Any organization that wants to fundraise through selling tokens can use transparency as a feature, and it doesn’t really matter what they call them — ICOs or token events — these are ways to engage with a community and raise money in a transparent fashion,” he says. As a marketing technique for a new ecosystem, particularly one without heavy VC backing, airdrops can make a lot of sense. Building a community costs significant money via advertising, key opinion leaders and other traditional marketing channels and trying to grow organically takes a long time.Nick Campion, head of marketing with Flare Network, says airdrops have pluses and minuses.
David Dobrovitsky, CEO of FUNToken, is a serial entrepreneur who works often in the Solana ecosystem. He sees airdrops as basically a marketing technique, which means the project can gather wallet addresses that are infinitely more valuable than mere emails.Dobrovitsky sees the renewal of interest in token raises as a reaction to the U.S. SEC clampdown on ICOs, which shows the ingenuity of the Web3 community. — they kinda all equate to the same thing.
Simon Vieira is the CEO of MixMob, a Solana gaming platform, and hails from a Triple-A gaming background. “It’s very complicated, and we are on both, including top tier exchanges. It is a lot more complex than before, and you need money in advance. The mechanics might be easier, but the success rate is much tougher.”In a similar vein to the NFT sale undertaken by MixMob, Web3 companies are also turning to selling “things” or licenses to fundraise.Typically, in the form of an NFT, these items guarantee income, often in the form of native tokens, which can be redeemed on exchanges.
However, Spark has never been sold to investors or given out to the team, and it cannot be traded within the Upland metaverse. There are currently over 130,000 Spark holders in Upland, and 93.6% of those who purchased Spark have used it to build in Upland.