• Friend.tech is a new Web3 social app that has become the talk of the town in the crypto community.

  • It allows users to tokenize their social network. In essence, people can sell “shares” of themselves.

  • These share owners can privately chat with the person they own shares in.

  • Friend.tech’s genesis, mission, and lack of roadmap all raise red flags and must be critically surveyed as it continues to scale.

Friend.tech is a decentralized social media app that allows users to tokenize their friends. This means that you can buy and sell shares of your friends’ social media profiles. The price of a share is determined by a number of factors, including the number of followers your friend has, the engagement on their posts, and their overall influence.

Friend.tech is a new social app that allows users to tokenize their social network. In essence, people can sell “shares” of themselves, and these share owners can privately chat with the person they own shares in. 

Buyers are flocking to Friend.Tech – Dune Analytics

The app has already attracted over 12,500 individual traders since its Aug. 10 launch and has facilitated over 5,500 ETH ($10 million) in volume. When a person’s shares are bought and sold, they earn a fee. The app also has an intriguing feature — buying shares of a person opens up a private chat room between the buyer and the share issuer.

Since most people with large followings tend to have their DMs turned off on social media platforms like Twitter or Discord, this is a feature that could potentially have value beyond the initial frenzy.

How does Friend.tech work?

To use Friend.tech, you first need to create a profile and connect it to your Twitter account. Once you’ve done that, you can start buying and selling shares of your friends. When you buy a share, you’re essentially betting on your friend’s future success. If your friend becomes more popular, the value of their shares will go up. And if your friend’s popularity declines, the value of their shares will go down.

Friend.tech is a new social app that has an interesting feature where buying shares of a person opens up a private chat room between the buyer and the share issuer. This feature is intriguing because most people with large followings tend to have their DMs turned off on social media platforms like Twitter or Discord. 

This feature could potentially have value beyond the initial frenzy. Additionally, when a person’s shares are bought and sold, they earn a fee.

Launched on Base

Friend.tech is deployed on Base, the new Layer 2 network from Coinbase that launched this week. It’s currently the most popular app on the new blockchain. 

Base is an Ethereum Layer 2 (L2) network offering a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps, or dapps,” onchain. It is an open-source optimistic rollup built on the Ethereum blockchain.

For those looking to try out the platform, one of the three buttons at the bottom of the app promises an airdrop that will commence on Aug. 18. To use the platform, users must link their Twitter accounts and fund a new wallet with ETH on Base.

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