APENFT Airdrop Review 2023: Good Or Bad Airdrop Read Our Review

What Is Crypto Airdrop?

A crypto airdrop is a type of marketing technique used by cryptocurrency projects to give out free tokens or coins to a specific audience, usually to increase interest in, participation in, or adoption of their blockchain project.

Although there are many different types of airdrops, the most popular ones involve giving out tokens to current owners of a certain cryptocurrency or to those who meet certain requirements, such being a part of a particular community or carrying out certain duties.

A new cryptocurrency may employ airdrops to encourage and reward early adopters, promote user adoption, or build a larger and more decentralized user base. Airdrops can be spontaneous or pre-announced.

What Is APENFT Airdrop?

APENFT was born with the mission to register world-class artworks as NFTs on-chain. It is built on top of TRON, one of the world’s top three public chains, and is powered by the world’s largest distributed data storage system, BitTorrent. They aim to build a bridge between top-notch artists and blockchain and to support the growth of native crypto NFT artists.

APENFT is airdropping 5% of the total supply to various holders on Tron mainnet. The snapshot was taken on June 10, 2021, at 12:00 (UTC) of TRX, BTT, WIN and JST holders and eligible holders will receive free NFT proportional to their holdings. The airdrop will happen over the course of two years and 1% of the total supply will be airdropped in the first month and the remaining 4% of the total supply will be airdropped once per month for 24 months.

Basic APENFT Airdrop Points

How To Claim APENFT Airdrop Step-by-Step Guide:

1. Hold TRX, BTT, WIN or JST in a private wallet or on an exchange supporting the airdrop like Binance.
2. A snapshot will be taken on June 10, 2021, at 12:00 of eligible holders.
3. A total of 5% of the total supply will be airdropped over the course of 2 years.
4. 1% of the total supply will be airdropped on June 10, 2021, at 12:00 (UTC) and the remaining 4% of the total supply will be airdropped on the 10th of every month for 24 months.
5. Eligible holders will receive free NFT proportional to their token holdings.
6. TRX balance ≥ 100, JST balance ≥ 100, BTT balance ≥ 2000, WIN ≥ 15000 is required to be eligible for the airdrop.
7. Some of the major exchanges that have announced support for the airdrop are Binance, Huobi, Poloniex, Bitforex, and Bithumb.
8. For more information regarding the airdrop and updated exchanges list, see this Medium article.

How To Check APENFT Airdrop Is Real Or Fake

Checking the legitimacy of a crypto airdrop can be a bit tricky, as scammers often use sophisticated techniques to create fraudulent airdrop campaigns that appear to be legitimate. Here are some steps you can take to verify the authenticity of a crypto airdrop:

1. Social media and the company’s website: Start by going to the APENFT official website and their official social media accounts (on Twitter, Telegram, and Discord, for example). Watch for any airdrop-related announcements. Verify that the details of the airdrop that are posted on these platforms correspond to what you have read or seen elsewhere.
2. Whitepaper and supporting materials: Examine the APENFT official whitepaper or other related documentation. Airdrops are included in the thorough information regarding token distribution that legitimate projects frequently include in their documentation. Verify if the airdrop’s specifics correspond to what you’ve observed.
3. Check the Team: Look into the APENFT crew. Scams frequently use unidentified teams or teams without credentials that can be checked. A transparent team with members who can be tracked down and verified is typically present in legitimate projects.
4. Look for warning signs: Any airdrop that requests secret keys or passwords from you should be avoided. Usually, legitimate airdrops don’t need this information. Do not accept any airdrops that offer improbable benefits or look too good to be true. Watch out for airdrops that ask you to deposit cryptocurrency to a certain address in order to receive your airdrop. Authentic airdrops typically give away tokens for nothing.
5. Community Opinion: Join communities and forums for cryptocurrencies to discuss the legitimacy of the airdrop. Members in the community with experience frequently share information about potential frauds and can offer insightful advice.
6. In summary, it’s important to conduct thorough research, verify the source and instructions, look for feedback from other users, and trust your instincts when evaluating the legitimacy of a crypto airdrop. By taking these steps, you can minimize the risk of falling for a fraudulent airdrop and protect your assets and personal information.

What are the risks of participating in an airdrop?

Potential participants should be aware of the potential hazards associated with taking part in an airdrop, a popular marketing approach in the world of cryptocurrencies. Airdrops, in the first place, frequently require users to provide personal information, such as email addresses and wallet addresses, which can leave them open to phishing scams and identity theft.

To trick unwary people into revealing critical information, scammers may employ bogus airdrops. airdrops are frequently connected to unproven or new cryptocurrency projects, which can be extremely risky and involve a significant risk of losing value. Participants can discover that the tokens they are holding are worthless or are a part of a pump-and-dump operation.

APENFT Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Incentive for TRX, BTT, WIN, and JST Holders: Holders of TRX, BTT, WIN, and JST tokens are encouraged to keep holding these investments by the airdrop, which acts as an incentive for current holders of these tokens. This may increase user loyalty to the TRON environment.
2. Increased NFT Adoption: APENFT has the ability to increase NFT adoption by providing free NFTs to qualified holders. As a result, more people may use NFTs and blockchain technology because it enables them to enjoy the advantages of owning digital goods and artwork.
3. Increasing Brand Loyalty and Community: Airdrops frequently promote a sense of community among token holders. The airdropped NFTs may increase interest in the APENFT project and its ecology among those who receive them.

Cons of participating in an airdrop:

1. Value Diluting: As more tokens are put into circulation through airdrops, the value of the existing tokens for holders may become less valuable. Over time, this can cause the value of TRX, BTT, WIN, and JST tokens to decline.
2. Speculative nature: Some people who received airdropped NFTs might not actually care about the project and may merely be holding the tokens for investment purposes. Short-term price volatility and instability may result from this.
3. Resource Consumption: Because airdrops call for taking screenshots of user balances and giving tokens to qualified recipients, they can be resource-intensive for blockchain networks. This can result in more people paying more for transactions and a more congested network.

APENFT Airdrop Final Verdicts

In conclusion, APENFT’s goal to use NFTs to introduce world-class artworks to the blockchain is a bold and creative project. They seek to bridge the gap between well-known musicians and the cryptocurrency world by utilizing the TRON blockchain and BitTorrent’s distributed data storage mechanism, offering a venue for both seasoned and up-and-coming NFT artists to flourish.

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