During the Token 2049 conference in Hong Kong, Utah-based startup company Mainframe released thousands of dollars’ worth of crypto tokens in their first literal airdrop event. Tokens were placed inside balloons which were dropped from the ceiling towards eager conference attendees.
The messaging startup plans on giving away $1 million in tokens spaced across 25 of these literal airdrop events. After Hong Kong on March 20, it held others in Shanghai (March 22) and Beijing (March 24) in China, Seoul, South Korea (March 26) and Tokyo, Japan (March 27).
The airdrop concept is not new. In fact, it is a current trend for many startups that want to circumvent strict regulations on initial coin offerings (ICOs), the usual crypto startup funding method. However, airdrops are normally done online. Until Mainframe, there has not been any known literal airdrop event that allows participants to physically walk away with the tokens.
In an interview with Fortune, Mainframe CEO and founder Mick Hagen said:
“We are taking it literally. We thought, what if we do a real airdrop?”
The company had initially sold tokens in a private pre-sale. They raised around $15 million worth of ether (ETH) to fund their messaging service project. Mainframe aims to create a censorship-resistant and surveillance-resistant messaging service to preserve user freedom.
They had also initially planned to hold an ICO but decided against it because of all the regulations against the funding method.
Mainframe calls their literal airdrop the “Proof of Being.” It is just the first phase out of three-phase crowdgift. The other phases are reported to be called “Proof of Freedom” and “Proof of Heart,” which the company has not yet explained.
Video from Mainframe’s YouTube channel
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