Case Study: $SOS Token Airdrop
Timeline
On December 24th, 2021 $SOS airdrop went out to OpenSea users. How many tokens they were entitled to was calculated based on how much ETH they had spent on OpenSea, and how many transactions they’d had.
Results
In 7 days OpenDAO gained over 130,000+ followers on Twitter, and over 300,000+ wallets claimed their tokens in just a week.
Ultimately the project reached a $440m market cap at the peak, a massive success
The Hook
The token was marketed as an
“effort to reward OpenSea users for their spending and for suffering through various scams”.
To be honest, this is quite a weak vision as there’s a major flaw missing: sustainability. You can’t reward people without generating revenue.
With that said, it was still a massive success.
Mechanism
The total number of transactions has 30% weight, and transaction volume in ETH, DAI, and USDC has 70% weight for token distribution, according to the OpenDAO’s website
50% of supply airdropped
Here’s a demo showing the claiming mechanism.
Social media
“Within four days of its Twitter presence, the OpenDAO account has gained nearly 125,000 followers”
Already on the same day as the airdrop, people started making videos on Youtube and Tweeting about it.
Central exchange listings
OKEx, Huobi and Gate.io listed the token within days
The press picks it up
All the crypto outlets started picking up the story a few days later, amplifying the campaign
Summary
This was clearly a very smart campaign that appealed to the NFT crowd that had transacted on OpenSea.
If you have other successful marketing campaigns in web3 don’t hesitate to message me on Twitter and we’ll do a case study on them.
