If you make use of Twitter and you are in the crypto space (which is at least 70% of my audience here), whether it is just a small part of your Twitter or the whole thing I am pretty sure you have come across the recent frenzy of tweets and people spamming tags like $BLOCK, $PARAM and so on all over the feed. You've probably been wondering what is going on. And why is everyone so pumped around this? Well the truth, if you haven't already figured it out by now is that not a lot of people are actually so pumped about any of these projects but they're actually all farming engagements in a bid to get some crypto from a project.
I can't remember the name of the project that started the whole thing anymore, but the Big Brain Project realized that instead of spending a lot of big money on marketing campaigns that not too many people will see, why not get people to tweet about your projects nonstop and reward them instead? It can also serve as an airdrop to people and help with distributing the token, rather than giving it to just one company that will most likely dump it all at once to advertise. And also why not make it like a game where people have to compete to shill it? The more effective your shilling is (in terms of engagements on tweets) the more of the token you'll get. This idea is genius as projects that are doing this see themselves consistently on the top of the trending tags on Twitter and of course people who don't have any idea what it is will at least be tempted to see what all the buzz is about. Whether it's the best or not Twitter is the most influential social media so a vast majority of the audience they're looking for is there.
I really wish I could remember the name of the project that started this, but since I can't remember I guess it speaks volumes as to how they're faring at the moment. A project that did this well (or at least good enough for me to remember their name) is $Portal. I saw it when it first came out, but I couldn't comprehend and to be honest I thought it was a scam. In the end, it turned out not to be and a lot of people who farmed $Portal were happy that they did.
Recently a new wave of these types of projects has started again. $BLOCK was the first one I suddenly started seeing all over trending pages for no reason in particular. Then a host of others like $GMRX, $PARAM, $EVERY and so on quickly followed suit. I was a bit sceptical so I decided I would use my alt account and to be honest, I wasn't paying much attention cause I felt things like this are weird. But I had this friend who was going all in on this for some reason. A few days ago (more than a week now) $GMRX token launched and I've got to say I was shocked. My friend who was actively tweeting got well over a thousand dollars liquid, and the other half was staked. I on the other hand am still yet to receive my stash which is only worth about 50 dollars (at the time of writing) because I didn't submit my wallet address on time.
I may still get it but it'll be less for not adhering to instructions. Usually, I see things like this where projects launch and someone shares their screenshot of how they made a lot of money from airdrops without investing, but having it so close to me and seeing it in real time was a whole other feeling. I was happy a close friend won, but at the same time, I was annoyed at myself for not joining him when he was farming. I decided I'd join him this time, and in my leisure time, I've been on Twitter dropping tags and tweeting continuously.
It is weird, to say the least, because I have no idea when something like tweeting could be used to earn crypto, and I know it sounds ironic when I'm literally a hive user. We have a better system than the ones these projects are employing though. These project models majorly favour the influencers and a lot of the time the model of distribution is not transparent (problems of centralization).
With the way these new projects that are making use of this tweet to earn method are spawning every day, some people have even started suggesting it could be a new meta like the NFT craze some years back. I doubt it has the potential to be that huge, but then I may be wrong. It will be interesting to see what comes out of all the time I have spent farming these "Socialfi" airdrops.
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Photo by Marten Bjork from Unsplash
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