Crypto Companies Donate At Least $127 Million At Web Summit Conference
Web Summit Conference, which took place on November 8, 2018, is Europe’s biggest tech event. At the event, crypto businesses gave away crypto of over $127 million.
Airdrops, Wallets, And Adoption
The Web Summit is already sold out and will take place in Lisbon. Thousands of startups and experts come together to join a list of over 70,000 attendees. Crypto enterprises really stood out. Many had schemes that gave millions to attendees, in free crypto.
The largest giver at the summit was Blockchain Wallet, which gave away $125 million in Stellar Lumens (XLM). The tokens were sent to 28 million users who registered to be part of the airdrop.
During the initial announcement, the Blockchain Wallet did not reveal how many XLM they would give away. Their airdrop had the purpose of easing the path for crypto newcomers. This is because filling out KYC, depositing funds in exchange, and registering on the exchanges can be complex.
The Blockchain Wallet Whitepaper
According to their whitepaper, the airdrops ensure a free and transparent manner for anyone to obtain crypto. Besides that, they can help with crypto adoption and empower those that have no access to the legacy financial system.
Free Crypto And Adoption
The chief legal officer and president of Blockchain Wallet stated that airdrops had the ability to decentralize a network with the risks that come with ICOs and mining. The CEO added that the airdrop would allow users to try trusted crypto assets in an easy and safe manner. The hope is that this giveaway of XLM is going to raise crypto awareness. Anyone would be able to get the XLM tokens worth $25 as long as they owned a Blockchain Wallet.
They decided to start with Stellar XLM since their network is designed with scalability in mind. The XLM token enables low cost, quick, and global transactions. The transaction speeds are quick even when millions of people are active on its network. Stellar is even able to come up with custom tokens that are representative of virtual services and good in the real world. The Stellar development community is quite vibrant and has a functioning ecosystem.
eToro Was Not Left Behind
Another UK company that gave away crypto was eToro. This was part of their drive to grow awareness on their project. The company plans to release a new wallet sometime this week. Thus, they needed a boost in publicity.
The eToro platform is going to give 0.1 ETH or about $21 to the first 100,000 users to download the eToroX wallet. The wallet will also hold BCH, BTC, and LTC. The CEO of eToro said that in the same way the eToro had opened the traditional markets to investors, this wallet would have a similar effect on the crypto world.
Other Smaller Participants
BTC.com also has a token distribution, although not quite as large as the other big player gave. It seeks to encourage the adoption of BCH. The organization gave away cards with 0.003 BCH. This is part of their effort to grow BCH reach and awareness.