Tokens as Marketing Tools: Zilla Creates ‘Faucet-as-a-Service’
Blockchain asset app Zilla has launched its “faucet as a service” website, which allows businesses to create and distribute their own ERC-20 asset without any coding ability. Its first unit was the “Reiwa” token, marking the start of Japan’s new Imperial era on May 1st, 2019.
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Faucets Part of Bitcoin and Cryptocurrency History
What’s a faucet? Put simply, it’s a service that sends crypto tokens to a user’s wallet for free, as long as they provide a receiving address. Faucets were popular in the early days of Bitcoin, where — believe it or not — people could receive hundreds of BTC for free.
Many other cryptocurrency projects ran online faucet giveaways when they launched. Some of the assets distributed are now worth a lot of money. Many aren’t. Newcomers won’t get well-known cryptos for free these days (and beware of any site offering them) but that’s the whole point — give assets away for free when they’re worth almost nothing, and there’s the possibility your early followers will be rewarded at some point in the future.
Giving Away Tokens Gets You Attention, Says Zilla
According to Tokyo-based Zilla, creating a community token and faucet works as a marketing tool. By creating the Reiwa token and announcing the faucet on its Japanese Twitter account, Zilla was able to gain hundreds of new followers. It send tokens to over 700 Ethereum addressses and gained over 300 new email subscribers.
Yesterday it also created a Game of Thrones (GoT) token to further demonstrate the concept, putting a time limit on the giveaway.
The principle is that it’s a fun and easy way to introduce people to cryptocurrency and using crypto wallets, without making an investment. Plus, everyone loves getting something for free, whether it’s valuable or not.
(This writer can attest to this, as a hodler of several thousand Counterparty-based tokens from the earlier days of Bitcoin. While their dollar value is negligible and barely in the single figures, having any kind of balance is satisfying on some level. They’re also interesting crypto collectors’ items, as proof of participation in a crypto project at a certain point in time.)
Tokens for Any Purpose
Projects may also have bigger and more lucrative plans for their tokens, and Zilla is also working on a feature to create tokens intended as actual trade-able assets (for whatever purpose you choose that’s legal in your jurisdiction).
Zilla suggests combining a new token faucet with an online ad. Of course, giving away an actual exchange-listed asset such as its own Zilla (ZLA) helps — though that requires a greater financial outlay.
The Zilla site and mobile wallet app is aimed at token collectors and traders. Both have the token-generation feature and can hold any number of Ethereum-based assets. it also has in-depth information about token projects and ICOs, as well as listings for upcoming conference events.
Do blockchain tokens have other uses beside speculative assets? Have you ever “collected” them? Let us know in the comments.
Images via Zilla, Pixabay