Building a strong community is one of the most important tasks for any company in the crypto industry. Having a viable community enables the growth of a crypto asset, and makes it easier for the firm to attract new crypto users to its community.
Crypto firms use several methods to build communities around their products. These communities are usually centered on social media sites such as Twitter, Telegram, and Reddit, where information is shared and discussions about developments around the company are held.
This enables each member of the community to participate in the direction the firm takes and gives each of these users a sense of belonging.
One of the most popular methods used by crypto companies to attract users to their communities is token giveaways. Users receive tokens from the company which they can use to trade on crypto markets and engage with some of the services provided by the token issuer.
Sometimes, tokens worth millions are distributed to community members as crypto firms try and build large communities.
Tron’s Telegram give away
Tron is planning on expanding it’s Telegram community group chat through a giveaway of its TRX tokens.
A giveaway of 50,000 TRX tokens is being conducted by the firm to new members of the community. New members will receive these tokens as prizes for joining the community.
Hey #TRONICS, join the campaign and invite your friends to join #TRON official telegram group https://t.co/OlKqd7rShl to share 50,000 #TRX! The more people you invite, the more $TRX you will get. https://t.co/Ti3yySNvJF
— Justin Sun (@justinsuntron) September 16, 2019
Crypto users have until the 20th of September to join the Telegram group chat, and the winners will be announced on the same day. There are three winning prizes of 5,000 TRX, 2,500 TRX, and 1,250 TRX. The remaining 32,500 will be shared among the rest of Tron’s community members who do not make the top three spots.
At the end of the giveaway, all new members of Tron’s Telegram group chat will have received some of the 50,000 TRX tokens that are up for grabs.
Sun pledges funds for UBI
Justin Sun, the founder of Tron, announced that he will be giving away $100,000 a month in 2020 in a universal basic income (UBI) initiative.
Sun got the idea from US Presidential candidate, Andrew Yang, who has pledged $1,000 a month for 10 citizens of the United States every month for the next year.
Yang’s initiative to UBI $1k to 10 ppl per mth for 1 yr, I'll pledge UBI $1k to 100 ppl per mth in 2020! I'll pick 1 to attend lunch w/ me & @WarrenBuffett 2020! I'll let Yang assist me in picking the lucky 100! Join us! #YANG2020 @AndrewYang https://t.co/YQFnXwXtuf
— Justin Sun (@justinsuntron) September 13, 2019
Sun’s UBI will come to a total of $1,200,000 by the end of 2020, and one of the recipients of the funds will join him at the much touted lunch with Warren Buffet.
These giveaways will certainly gain the attention of several members of the crypto community and Tron could see an expansion in its reach.