Airdrops of free crypto tokens look set to replace ICOs
Forget raising money by selling your crypto tokens, just give them away to as many potential users as possible and raise value through network effects is the new thinking from crypto-land.
You don’t have to spend too much of your lunch hour trawling the polite corners of the internet – Facebook, Twitter, football supporters’ message boards – to pick up an invite from one of your virtual acquaintances to join Initiative Q.
Initiative Q claims to be the latest idea of Saar Wilf, a serial entrepreneur who launched his first payments start-up in 1997, later founded payments security company Fraud Sciences and sold it to PayPal in 2008.
The economic and monetary models of Initiative Q were developed with economist Lawrence White, a professor of monetary theory and policy at George Mason University.
Initiative Q presents itself as a new global payments network that will aggregate the best ideas, innovations, and technologies developed in recent years – no actual details yet, no white paper and no mention of blockchain – to allow safe, fast and low-cost transactions, using a private global currency.
This will be the Q, and early adopters can obtain Qs for free right now if they are invited by someone they know, sign up with their name and email address and are verified.