Some of the most valuable airdrops in crypto history went not to protocol users but to NFT holders. A project takes a snapshot of everyone holding a particular collection at a specific block, then distributes tokens to those wallets, sometimes months later. For collectors, this turns a piece of digital art into a lottery ticket with real upside.

But buying an NFT purely to chase an airdrop is risky, and the rules are rarely as simple as hold and receive. Snapshots can be unannounced, eligibility can depend on how long you held, and the token's value after distribution is never guaranteed. This guide explains how holder drops work so you can judge them clearly.