Friend.tech is a decentralized social media platform designed specifically for Web3 enthusiasts. It integrates the novel concept of "keys" as digital assets, representing ownership and access rights within the ecosystem, particularly in interacting with crypto influencers and accessing exclusive content.
What is friend.tech
Here's how it works:
- Digital Asset Keys: Users own keys as digital assets, granting them access to token-gated channels of creators, similar to holding a stake in a company.
- Platform Interface: Resembling Telegram or WeChat, it allows for joining and exiting group chats, offering a familiar user experience.
- Creator Benefits: Creators maintain private access to their community, earning through trading fees, which are incentivized by higher trading volumes.
- User Onboarding: New users need an invitation code and a linked Twitter account, along with a minimum of 0.01 Ethereum injected into the Base network for access.
- Dynamic Pricing: The price of group keys increases with the group's size and the total keys, allowing users to sell their keys if they decide to leave.
In summary, Friend.tech merges social interaction with investment by leveraging blockchain technology to offer a unique platform where ownership of digital keys not only unlocks exclusive content but also represents a stake in the community's growth, benefiting both creators and users.
Team of friend.tech
0xRacer
Founder
The project founder, 0xRacer initiated 'social experiments' and then abandoned them in the past. He is the founder of TweetDAO and Stealcam, both of which are inactive right now. Projects founded by 0xRacer share common features: they promise 'social experiments,' have pyramid-like economic structures, and were discontinued after a few months.
Shrimp
Shrimppepe can be considered as the person responsible for the development part of friend.tech, according to his Twitter bio. He was previously involved with kosettoiskawaii, an NFT project, which has been abandoned.
friend.tech review
Pros
Tokenization
Allows for the buying and selling of Twitter account tokens, offering a unique way to monetize social media presence.
Cons
Economic Structure
Resembles a Ponzi scheme with a high risk of collapse if buying does not outpace selling, endangering investments.
Privacy Concerns
No policy in place to protect user data, with required access to personal accounts and lack of control over purchased shares.
Founder's History
Previous projects were abandoned, raising doubts about commitment and reliability for long-term project success.