Social platform Friend.tech has seen rapid growth since its launch, with over 100,000 addresses and $25 million in generated fees, while also attracting notable personalities like FaZe Banks and NBA player Grayson Allen, despite concerns about wallet addresses becoming public.
Friend.tech is a controversial app that allows users to buy shares in other individuals on the platform, treating humans as commodities.
China's economic woes, including deflation, declining exports, and weak domestic consumption, could spell trouble for the crypto market, although the impact may be diminished compared to the past; meanwhile, the decision by NFT marketplaces to no longer enforce creator fees has caused fear and uncertainty in the NFT markets; however, the launch of Friend.tech, a decentralized application integrating tokenomics with social media, has attracted over 100,000 users and demonstrated the demand for a fresh social media experience combined with the allure of quick profits.
The decentralized social network Friend.tech has experienced a significant decline in metrics such as activity, inflows, and volume, leading critics to declare it "dead" less than three weeks after its launch. The platform, which allows users to buy and sell "keys" for private messaging, has seen a drop in daily fees, transactions, buyers, sellers, and inflows, prompting concerns about its future.
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.
A web3 decentralized social network altcoin, CyberConnect (CYBER), reached a new all-time high of $15.36, experiencing a significant increase of 308.9% in just one week, possibly influenced by Binance's new trading services and promotional campaign.
The price of the CYBER token, which is used for the CyberConnect social media network, has increased by 250% in the past week due to significant interest from traders, despite the overall bearish sentiment in the crypto market. The network has experienced a surge in trading volume and market capitalization, reaching $144 million and $898 million, respectively, and has seen trading volumes of up to $10.8 billion in the past 24 hours. However, there are concerns about whether this surge in value can be sustained, as other similar platforms have previously experienced a decline in popularity shortly after their launch.
Decentralized social media platform Friend.tech, built on Coinbase's layer-2 protocol, has experienced significant growth in revenue and total value locked, proving critics wrong who predicted its failure.
Decentralized social network Friend.tech experienced a wave of SIM swap attacks, resulting in the loss of $385,000 in Ethereum for four users, with evidence pointing to the same hacker responsible for a previous attack on the platform.
