Friend.tech | Di Biggest Social App for Base
Even as bear market dey choke, pipu still rush dis new platform, as dem dey pump money inside am. Today, we go dey reason friend.tech, di new app wey dey hot for web3.
Wetin Be Friend.tech?
Friend.tech na one decentralized social app wey dem build on top of Base, e dey allow creators make connection with dia audience thru tokenized atenshun, where di influence of creator dey represented by keys wey fi dey exchanged for access to private chatrooms wey dey exclusive and other special things.
Main Points:
- Friend.tech launch on top di Base network on August 10, 2023, and e dey offer new chances for creators and dia audience to connect.
- Friend.tech make am possible for creators to connect well with dia audience and dem fi make money from dia influence thru tokens wey represent attention, where di influence of creator dey inside di keys (wey dem bin dey call shares before).
- Friend.tech na blockchain-based app, e dey use smart contracts and cryptocurrency to turn social reach into something wey fi dey traded.
Coinbase's Layer 2 network, Base, don see increase for aw e dey used for di past few weeks. Artemis talk say di number of active addresses and daily transactions for di platform don reach all-time high on August 10, 2023. For dis day, more dan 127,000 wallets send pass 630,000 requests enta di network.
August 10, 2023 na di same day wey friend.tech launch, and e don dey become one of di top dApps for Base. As e dey top di charts for revenue and fees wey dem dey generate. As Dune Analytics report, friend.tech don get over 85,000 pipu wey don buy or use am since e launch on August 10, 2023.
As di app still dey di development stage, di app don see movement of more dan 38,000 ETH on top daily trading from users. For di mata of trading activity, di platform pass OpenSea for dis time. Based on DefiLlama data, friend.tech dey lead di charts for 7-day revenue as e chance popular DeFi protocols like MakerDAO and Lido.
Make we understand Friend.tech well:
Friend.tech na one small web3 social media app wey talk say e fi connect creators with dia audience for one gamified way. Wetin Friend.tech dey do range from tokenization to smooth interaction wey dey use blockchain technology and cryptocurrency. For di outside, e be like social media app, but di way e dey work na with decentralized networks and crypto assets.
Friend.tech dey turn influence of users to tokens. Users fi get access to di attention or influence of dia friend if dem buy tokens for di platform, wey dem dey call keys (wey dem bin dey call shares before). Di price of di key dey based on how pipu dey buy am.
For di other side, creators get freedom to try new ways wey go make dia influence grow and draw new shareholders., e allow creators build community and make money from dia influence. For di audience, e give dem chance to connect with dia favorite creators, and shareholders fi enjoy special things like private conversations with di creator for chat rooms.
Since wen e don launch, some well-known cryptocurrency influencers don join di platform, including Hsaka Trades and Jordan Fish (Cobie). Apart from crypto influencers, NBA players and esports personalities don also sign up.
Who be di Founders of Friend Tech
Di founders of Friend.tech na: 0xracerAlt and Shrimp.
Before Friend.tech, Racer bin dey part of TweetDAO, na project where dem dey run Twitter akant like DAO, and only pipu wey get Tweet DAO Egg NFT fi get access to di akant.
Afta dat, Racer come partner with Shrimp to create Stealcam. E be place where dem fi upload single pictures, wey go come turn NFT, but different from regular NFTs, users no go fi see am unless dem "steal" am. Di price go dey go up every time person steal di picture.
How Friend.tech Dey Work:
Friend.tech be PWA (Progressive Web Application), where users fi manage dia friend.tech profile from browser-enabled mobile app. Di app get non-custodial personal wallet, wey users go get private keys to dia friend.tech wallets, and dem fi move dia wallet go other wallet apps.
When pesin don create akant finish and put moni for dia wallet, Keys go dey created for dia akant wey other users fi buy dis Keys to access di creator akant. Evri user akant for Friend.tech get keys, but how valuable dis keys be, dey based on how much influence di owner get and how pipu dey rush am.
For friend.tech, users fi interact with creators wey get dia keys for chats, or dem fi explore popular creators. So far, pipu don trade over 38,500 ETH worth of creators' Keys for di platform.
Di usage statistics wey dem get from di first few weeks afta dem launch dey show say Friend.tech don burst pipu head for di crypto community.
Why Friend.tech Dey Popular So?
1. E turn Attention Economy to Game: E no be di only decentralized social media app, but one thing wey make am shine well na how e dey turn attention economy into sumtin wey dey like game. Pipu wey like cryptocurrency dey enjoy tokenization, especially when dem fi make money. Apart from dis one, e dey up to di influencers to decide wetin dem wan share for dia private chatrooms. Dis one mean say di kind of access wey dis tokens (keys) dey give fi dey very personal.
2. Direct Benefit for Users: Every user get control over dia keys, and dem dey benefit directly from how dia key dey grow. Dis one dey attract influencers because e give dem new way to make money. As more celebs dey join, dia followers sef go follow join. Afta all, friend.tech dey give followers chance to connect with dia favorite creators, as dem fi buy dia way to chat with di pipu wey dem like.
3. Airdrop System: Apart from di social side, friend.tech get airdrop tab wey get point system. Points go dey airdropped every Friday, and according to di app, dem go use dis points for future things inside friend.tech. Dis one dey attract airdrop hunters, wey wan claim dia place as early users and get chance to benefit from any future rewards. Speculation say dis airdropped tokens fi dey used for di project's governance dey increase interest for di project.
4. Hype around Base Network: Base network wey dey connected to Coinbase, wey get over 100 million users, don dey popular. Some of di influence wey dem get dey reflect for projects wey dem launch for di network. For one event, Paradigm, one investment firm wey get link to Coinbase, talk say dem wan invest for friend.tech project. Dis one sef ginger belief from investors and users for di project.
Privacy Concerns
The Block bin share one artikul wey dem talk say leaked database wey connect Friend.tech users' profiles with dia Ethereum addresses. Even tho pipu don confirm am say dem dey yarn okoto, as dem see am for one tweet from di project, e still give one hint about how Friend.tech fi make am easy to reveal users' private information based on di link wey dey dia Twitter profiles and wallet address.
This is just someone scraping our public API that shows the association between public wallet addresses and public Twitter usernames.
It’s like saying someone hacked you by looking at your public Twitter feed.
Irresponsible reporting from @TheBlock_ and @vishal4c https://t.co/GIXOWazqBk
— friend.tech (@friendtech) August 21, 2023
If you use Base network explorer, e dey possible to follow user akant for di platform go dia wallet addresses as dem dey do transactions on friend.tech, and users don already sabi dis one. For akant creation, users gats give phone number or sign up with Google or Apple akant.
Currently, we no sure about how di app dey use and keep personal data, cos if you click on privacy policy for friend.tech homepage, ego show "Coming soon!" message. Dem dey advise users to protect dia personal information while dem dey use di platform. Some possible ways to do dis na to sign up with different email and use new wallet address wey dem dey move money to and from di platform.
Invite codes
If una wan join friend.tech, dis na invites code wey una fi use open new akant
ft-ksz8ifvc
ft-y17kmitl
ft-r4er5ph7
ft-adlmqe4b
Conclusion
Tokenization and true ownership dey among di very important features of cryptocurrency and blockchain technology. Friend.tech dey try tokenize influence and attention for one unique way. E fi dey try challenge centralized creator economies like Onlyfans while e dey use technology on top di Base network. Di Base network fi give am some advantage because of di fast blockchain transaction wey Base network talk say dem get. E go dey interesting to see how e go dey evolve and other similar apps wey fi show face for future. E go even dey more interesting to see how decentralized social platforms go perform compared to centralized options.
As creators and dia fans dey explore di platform, e dey recommended make dem understand di potential privacy concerns as dem take talk before. And make dem know say dis tori na only for educational purposes, e no be financial advice.
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