The tech world is abuzz as Friend.tech, a decentralized social media application, surges in popularity. The recent record of a staggering 100,000 transactions in just 24 hours has drawn comparisons with OpenSea, showcasing its rapidly growing influence.
Diving into Friend.Tech's Concept
A trailblazing app on Base, friend.tech introduces an innovative concept: tokenizing personalities in the crypto space. Users get the opportunity to purchase and trade "shares" of individuals.
The twist? The value of these shares fluctuates based on market demand. Plus, owning these shares provides an exclusive chance to enter a private conversation with the respective individual.
Joining the Friend.Tech Movement
For those keen to hop onto this trend, friend.tech currently remains in its beta phase, accessible only via invitation codes. Interestingly, Cohler has been playing Santa, distributing these golden tickets on platform X.
https://t.co/L11mNJZgY3 is currently in beta, so invite-only. The more referrals, the more "points" you get airdropped every Friday.— yuga.eth 🛡 (@yugacohler) August 11, 2023
That "Airdrop" is a tab unto itself speaks to the dev team's deep understanding of the crypto community.
CT loves aidrops. pic.twitter.com/o21rhjh7un
However, the app's skyrocketing success has its downsides. With surges of users flooding the platform, latency issues have arisen, with delays reportedly crossing the 10-second mark.
ETH Earnings & Point Airdrops
friend.tech has introduced an intriguing "subject fee" mechanism: every transaction involving a person's "share" directly earns that individual ETH. This ingenious model capitalizes on network effects; the more a person is traded, the greater their earnings. Consequently, this setup has spurred Crypto Twitter (CT) influencers into a promotional frenzy, distributing invite codes to amplify trading.
This Friday, we'll begin airdropping reward points to app testers. Points are collected off-chain during the beta period and will have a special purpose when the app enters official release status— friend.tech (@friendtech) August 14, 2023
100,000,000 points will be distributed over six months pic.twitter.com/MggfM4oitw
Additionally, the platform promises a hefty airdrop of 100 million reward points to beta testers, amassing these points off-chain. Over a span of six months, this entire cache will be disbursed, with these points slated to play a pivotal role upon the app's official launch.
Is this the Future or Just a Flash in the Pan?
friend.tech isn't the pioneer in this domain. It follows the legacy of platforms like BitClout and DeSo Protocol. But what sets it apart? The consensus hints at its unique tech approach and market entry tactics.
Whether friend.tech will sustain its appeal beyond this wave of excitement is up for debate. Yet, it undeniably sheds light on a novel perspective: quantifying and trading the value of one's online persona in the digital currency era.