Friend.tech has 20K key holders in total right now and 180K total users.
But, Tech Crunch said it’s dying. Is it?
Friend.Tech is a Social-Fi dapp deployed on Base.
This app lets users buy and sell their online popularity, sort of like trading cards.
It's an improved version of @desoprotocol BitClout.
Unique Buyers: 127k
Unique Sellers: 57k
High Retention: Over 75% of key holders use the app the next day and over 50% are still using it after a week
Friend.tech works by turning each user into tokens that you can buy, sell, or hold on to, called a "social token."
It's a bit like owning a piece of someone's popularity or reputation online.
As people become more popular or trusted, the value of their token might go up.
At its core, it’s a club where membership comes with a price tag.
Here’s how it breaks down:
It starts with the creators or influencers. They have something valuable: access to themselves. This access is represented as "keys."
Fans or followers want these keys. Why? Because having a key lets you chat directly with the influencer.
Unlike other platforms where anyone might drop a message to their favorite influencer, Friend.tech has closed doors. You need a key to get in.
Now, here’s where things get interesting. If you decide to buy or sell a key, a 10% fee applies. Half of this (5%) goes to Friend.tech, and the other half (5%) lands in the creator's pocket.
It's talked about a lot on X (formerly Twitter).People are curious about this new way of looking at online relationships.
Instead of just following or being friends, you can invest in them.
It's a fresh take on social networks and has many people excited.
Friend.tech is built on a straightforward idea. As a fan, you can buy "shares" to become part of an influencer's circle.
Once you're in, you get special access to chat directly with the influencer and their private group chats.
When you spend money on shares, it's split into two parts: a bit goes to the platform, and a bit goes straight to the influencer or creator.
The idea of Friend.tech was brought to life by @0xRacerAlt and @shrimppepe.
They're not new to this world; they've worked on other big projects like Stealcam.
People see Friend.tech in different ways. Some say it's a meeting place for crypto-savvy folks, while others believe it's the future of how creators will earn money.
The Shares wallet holds ETH, indicating traders holding shares on the platform.
Discounting ETH price, that’s a drop of slightly over 10% these days. More on it, here.
Although they still enjoy a large user-base,the traction is going down, clearly.
In essence, Friend.tech is an bold and innovative attempt.
Think of it as a ticket. You buy this ticket to join a group chat.
But there's a twist: the influencer can only talk to you through group messages, not one-on-one chats.
If you ever change your mind? No worries! You can always unfriend friend.tech.
This is a special newsletter. Every week, we deconstruct the best crypto trends and share those insights with you.
