What is Friend.tech?

• 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. 

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.

The coin and prices associated with Friend.tech vary depending on the user whose shares are being traded. For example, according to CoinMarketCap, the price of Icebergy (Friend.tech) is $7.52, while the price of Adam Cochran (Friend.tech) is $7.10.

How to Join?

To join Friend.tech, users require an invite code. This code system ensures a controlled growth rate and fosters a sense of exclusivity within the community. Once you have an invite code, all you need to do is go to Friend.tech’s website with your mobile device and download the app.

Some of the project features of Friend.tech include the ability for creators to connect with their audience through tokenized attention, where a creator’s influence is represented by keys that can be traded for access to exclusive private chatrooms and other perks. The platform also has a dedicated airdrop tab where points are allocated weekly on Friday. These points are expected to translate into tokens for Friend.tech governance.

Security

In terms of security and privacy concerns, there have been reports of data breaches at Friend.tech, where sensitive information of over 101,000 individuals, including their Base wallet addresses and associated Twitter identities, was exposed. There have also been concerns about the platform’s ability to post tweets and retweets on behalf of its users.

To avoid being scammed on Friend.tech, it is important to exercise caution when investing in shares and to be aware of the potential risks associated with using third-party platforms with your personal data. It is also advisable to keep up-to-date with any news or developments related to the platform.

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.

The future of Friend.tech remains uncertain, as it is still in its early stages and there are many factors that could impact its success. However, its innovative approach to social media and its integration with cryptocurrency make it an interesting project to watch.