Friend.Tech: Revival and Upgrades

Money is flowing back into the social application Friend.Tech as anticipation builds around a forthcoming update and the potential for an airdrop, reigniting interest among users. Following a period of decline, Friend.Tech experienced a notable surge last week, with over $7 million flowing into the platform and its total value locked nearing $40 million. This resurgence in activity is underscored by weekly fees surpassing $1.3 million for the first time since November, resulting in revenue exceeding $600,000. Friend.Tech operates on Base, a layer-2 network, enabling crypto personalities to issue “shares” for access to exclusive group chats. These chats offer valuable insights into trading, token selections, and seed-funding opportunities, thus enhancing the value of the shares.

The imminent release of version 2 of the application, expected after April 20, aims to broaden the platform’s reach beyond its current user base. Moreover, developers have teased the introduction of a FRIEND token, fueling speculation among users about its distribution based on accumulated points earned through Friend.Tech usage. Friend.Tech reached its zenith in August, generating over $1 million in daily earnings and amassing over 100,000 unique users after gaining traction on X. Notable crypto personalities on X, such as @Cobie and @HsakaTrades, witnessed a significant increase in the value of their shares during this peak period, with some reaching up to three ether, or nearly $5,000.

However, the platform experienced a subsequent decline in activity due to security concerns and competing opportunities within the sector. Despite these challenges, the impending updates and the potential introduction of a new token signal a revitalization of interest and engagement within the Friend.Tech community, indicating a promising trajectory for the platform’s future growth and development.

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