Friend.tech is crypto’s latest craze—it’s terrible but for one thing
Friend.tech is a controversial app that allows users to buy shares in other individuals on the platform, treating humans as commodities.
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Posted 8/24/2023, 2:17:00 PM
fortune.com
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Friend.tech, a decentralized social media app, has faced backlash for punishing users who use forks or copycat versions of its platform by forfeiting their existing points, leading to criticism from the crypto community. Additionally, the app has experienced a decline in key metrics following its public launch.
Activity on the Friend.tech app has rapidly declined, leading to concerns that it may become the latest crypto has-been, with users complaining about high fees and slow load times.
The decentralized social media platform friend.tech has experienced a significant resurgence in user activity, with its total value locked doubling to over $20 million in the last four days and daily trading volume reaching $12.3 million on September 9th, surpassing that of OpenSea by $3 million. The reasons behind this surge in activity may include the perception of friend.tech chats as yield farms, the addition of non-crypto influencers to the platform, and recent updates that have improved user experience and functionality.
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