Similar to little kids awaiting the airdrop of candies by United States Air Force pilots in post-World War 2 West Berlin, digital coins were given away for free in Hongkong on March 20, Tuesday, in a format that served as a literal representation of today’s version of an Airdrop – where companies virtually distribute their crypto coins to select customers at no cost. The giveaway took place at the inaugural Token 2049 conference where more than 200 people received physical poker-chip-sized coins inside balloons dropped from the ceiling. Mainframe, the company who pioneered the physical Airdrop, did so to introduce its new cryptocurrency – the MFT. The crypto-laced frenzy had less of the Studio-54-like wildness and was more of a subdued yet fun night attended by crypto enthusiasts and even kids with their parents. According to Mainframe’s site, the “family-friendly event” required that everyone be “civilized and respectful with each other”.
Mainframe describes itself as a decentralized communications network resistant to censorship, surveillance, and disruption. Each MFT is valued at $56 per piece, or 0.1 Ether. Attendees of the event are limited to receiving only one token per person. Each physical token is to be exchanged for codes redeemable as digital “MFT” coins online. Mainframe ‘s initial tokens have been previously pre-sold in a private event exclusively attended by accredited investors. The pre-sale raised $15 million or 27,000 worth of Ethereum. According to the CEO and founder of Mainframe, Mick Hagen – a self-described Princeton drop-out and Mormon – the funds raised will be utilized in developing an encrypted messaging service that is “censorship-resistant and surveillance-resistant” in order to preserve the freedom of users.
The creative way the physicalized digital coins were distributed was described by Hagen as “proof of being” – a playful term akin to the “proof of work” description used by Bitcoin to verify transactions. Those who missed the literal airdrop in Hongkong will have another chance to attend similar events in Shanghai, Seoul, Beijing, and Tokyo.