The price of Nebulas (NAS), a public blockchain platform that uses the developer incentive protocol (DIP) and proof-of-devotion (PoD) algorithms for faster consensus, is currently up 28% after announcing an airdrop of Atlas Protocol (ATP), which is developing interactive advertising marketing on chain, and building a blockchain interactive advertising traffic alliance.

According to the announcement, the Nebulas Council will take a snapshot of the mainnet NAS addresses on 16:00, October 15 (UTC+8). Investors can participate in the airdrop and receive ATP only if they have NAS coins when the snapshot is taken.

An ‘airdrop‘ is defined as the distribution of digital tokens or cryptocurrencies without monetary payment from the token recipient, which is often used as a means of marketing and supply distribution.

However, this form of digital asset distribution may soon fall under regulatory scrutiny as the recent Tomahawkcoins (TOM) airdrop bounty program failed the Howey Test, a test used by the Supreme Court to determine whether an investment contract should be considered a security.

For the time being, it looks like investors will continue to benefit from the free tokens and the NAS/ATP airdrop will go forward. NAS currently trades on several major crypto exchanges, including Binance.

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NAS has a $78 million market cap and is currently ranked 73rd in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: ATP Smartdrop by Nebulas and Atlas Protocol is Coming Soon
Similar: Cryptocurrency Airdrops at Serious Risk of Regulatory Scrutiny

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.