Airdrops are Web3’s go-to growth hack, flooding wallets with billions of dollars in tokens to onboard new users, but the data shows most of that hype fades in just 90 days.

According to a report from DappRadar, projects across DeFi, NFTs, and blockchain gaming have handed out more than $20 billion in tokens since 2017, including $4.5 billion in 2023 alone.

The effect was immediate as Layer-2 chain Arbitrum, for instance, processed 2.5 million daily transactions at launch, while NFT marketplace Blur grabbed over 70% of NFT trading volume overnight.

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