Intro
The usecase around crypto for a long time has been around finance, transactions and trading. For several years already projects have been working on other usecases as well. Mostly revolving around smart contracts and decentralization of (excisting) services. Lately we have seen several of the usecases besides finance growing. Although Friend.tech is technically about finance as well, it is in a new sense.
What you may ask? Well this revolves specifically around Twitter. Imagine buying a share in your favourite Twitter accounts.
Background
Each account can connect their account to Friend.tech. Friend.tech in return turns an account into something which can be partially bought. You can buy a share of an account.
Not a share in a traditional sense that it gives you ownership, but more in a sense that you get access to it’s content and can profit from it.
Once you have bought a share of an account you get access to the inner circle of that account. The person who owns the account has a chatgroup and you can only read the messages if you hold a share. This means you can monitize your Twitter account and earn with it, since you recieve a reward if people buy your shares. Of course since your shares increase in value, you can sell them as well. Thus becoming something to speculate on as well.
You can earn points on the platform by interacting and sharing content.
Friend.tech uses the Ethereum infrastructure, but is built on a L2. Not just any L2, but on Base, the native L2 of Coinbase, which is in fact built upon Optimism.
Ethereum on its own would hardly be suitable for such an application, namely because of the gasfees, meaning buying and selling an account would be very costly. On Base it works just fine.
Downside
The other side of the story is that someone should see value in your account and therefore wants to buy it. If you are a crypto influencer, people could buy your share to get access to your content, and are willing to pay for it. But if you’re just a regular person, there is less interest. People may, however just buy your share to speculate on.
That means that a main version of the application (like regular Twitter in this case) which doesn’t require paying for content will be neccasary in order to offer a wider platform where everyone can share their content. Also, the bigger influencers will have very costly shares, meaning the threshold to enter, can be quite high, too high even perhaps.
Having a gate for content may not always be an improvement to an existing service, but offering it alongside it, it could indeed be interesting.
At the moment people are eager to interact, in order to earn points, for perhaps an upcoming airdrop. Meaning they might airdrop a token, the more points you hold, the bigger the airdrop probably. Once the airdrop has been done, will people still use it as actively? That will be the question.
From 0 to 100
Where did it come from? A good question indeed. Friend.tech went almost from 0 to 100 (although we hope of course the end is far from reached (so 0 to more would be better?). It launched relatively quiet and picked up hype fast. It even has a VC backing, in the form of Paradigm.
We don’t know whats ahead for it. Is it just a short-lived hype or the future of (decentralized) social media. It did offer several copies, which we will look at as well.
There are rumors of a future airdrop, although these are not just rumors. In your account you can even see the points you have amassed. You can acquire points by interacting and thus increasing your potential airdrop. However, like most things, the richer you already are, the more you can get. But increasing in value and putting in work, might let you grow enough to get a lot of points.
In order to join Friend.tech you would need a referral code. We have several codes here for you to use.
ft-5vel66ge
ft-m4ess9ml
ft-g26f9byz
ft-hq1tthsg
ft-tdubok3y
ft-onvetjds
ft-aikyz5k2
ft-gpl50oft
ft-lvo3jo7h
ft-sgs31icc
ft-8elu9qwz
ft-s2lcp6zb
ft-editt9oz
ft-887j6wso
ft-43supx1q
Post.tech
Like many things, if something does well, we see copies appear. Usually the copy offers more features or does several things better. The question will however alwasy be, will it rise above the original version?
Post.tech runs on Arbitrum, another L2. With Post.tech however, you can post directly. It’s basically a crypto version of Twitter, linked to your original account.
Again, we have some referral codes below.
pt-tuthbbu8db
pt-4qttptbryn
pt-l7amkhxb1a
pt-ur6kgffs3b
pt-so6ic9uqz6
pt-85ptaw6lfe
Stars Arena
Today I came across another version, this time running on Avalanche. The applications looks the most developed, and offers a lot of features. Though it does feel less finished and sometimes buggy, but it did rose a lot in popularity today, so it may just be the amount of usage today.
Update;
An exploit happend and they drained the TVL of the platform. The team is working on it, and stated all funds wil be recovered and the platform will go back online, after a check of their contract.
