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Why are projects giving away their tokens for free?

Their main goal is to have users spread information throughout different social media channels about their project. Mostly it's about sharing and liking posts on their social media channels. As you can see the tasks are quite easy to fulfill. Because of your support more people will learn about their project. This will raise awareness and attract new potential investors. Obviously, a high user base and awareness have a positive impact on the token value. That's mainly the reason why they are giving you tokens for "free" - That's the way how they promote their projects!

There are different types of airdrops:
  1. ICO airdrops 
    These airdrops take place prior the ICO (Initial Coin Offering).
  2. Holder airdrops 
    Companies will distribute free tokens to their token holders. To benefit from it, you have to have their tokens at a certain moment in time. (snapshot).
  3. Hard Forks - Not so common
    Requires to hold tokens on the original chain - Most famous examples are Bitcoin Cash and Ethereum Classic.