What is Friend tech the SocialFi sensation on Base? by Pontem Network Pontem Network

what is friend. tech

Though Musk has introduced new ways to raise revenue, such as paid subscriptions, the company today is worth far less than the $44bn Musk paid for it just two years ago. In an early sign of the influence the tech entrepreneur may be rewarded with for his loyalty, Musk was party to a call between Trump and Ukrainian President Volodymyr Zelensky following the election. The war in Ukraine will be a major foreign policy concern when Trump takes office. “Not only did Musk go ‘all in’ in supporting Trump personally and financially during the campaign, but he’s also evolved into a trusted adviser on topics as diverse as technology policy to the war in Ukraine.”

Once an account has been set up and funds have been successfully deposited, users are prompted to buy 1 free “Key” linked to their account. Additionally, rsk bitcoin reddit bitcoin buy credit card china each person who signs up receives three invite codes to give away to friends to join the app. Friend.tech is not your typical social media platform; it’s a revolutionary concept that combines the power of Web3 technology with social networking.

“One of the things that’s worth saying is that none of us thought, when we invented social media, that we would become a threat to democracy,” he responded. “That wasn’t on the list of attributes. And these are the unintended turnkey forex review 2023 a scam or legit forex broker ️ cryptocurrency trading effects of technologies that touch humans.” Another big question about the FCC is what will happen to the other Republican commissioner, Simington, whose five-year term ends in 2025. As Jimm Phillips of Communications Daily reported in July, Simington appears likely to win renomination, but it’s possible he could take another job in the administration. Let’s explore the fascinating world of Friend.tech, unraveling its unique features, its potential impact, and why it’s generating so much excitement.

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@Bantg, the Yearn Finance developer, suggested in a Monday tweet that users had given Friend.tech permission to post on X on their behalf – which could open up a possible attack vector. “For most tech-savvy users it was obvious that Twitter and deposit addresses can be linked,” said @AlexSmirnov. “I think friend.tech should have made it more explicit and notified users that their deposit address will become public and will be traced by Twitter profile.”

The application has zoomed to becoming the second-largest revenue maker among crypto protocols in just over two weeks.

  • This way content creators earn much more than the standard 5% NFT royalties.
  • When there are more shares, the price of each share in ETH goes higher.
  • The newest crypto “killer app” seems to be social tokenization protocol Friend.tech, and it has proven to be an absolute money printer for developers so far.
  • Racer has also been behind other networks like TweetDAO and Stealcam, leveraging sophisticated digital technologies.
  • The platform is courting influencers who already have large Twitter followings, including influencers Jordan Fish, commonly known as Cobie, and pseudonymous trader Hsaka Trades.

A leaked database shows that more than 101,000 users have signed up since the invite-only beta version of the app launched on Aug. 10. Prior to friend.tech, the developer duo had launched another crypto social app, Stealcam. Stealcam allows users to upload any photo onto the blockchain, where the photo will be blurred beyond recognition and placed on the app for all to see as an NFT. Users can then pay to steal the NFT, at the same time revealing it to them.

Black Friday News & Tips

These points are recorded off-chain and will have a special purpose once the beta period concludes, which may provide an opportunity for users to earn. Individuals with a substantial following on Friend.Tech can earn crypto through fees and revenue generated when others buy or sell their keys​. After receiving an invitation, they can head to the Friend.Tech website, log in using their Ethereum wallet, and deposit Ethereum (ETH) to their Base account directly via Transak. This article will explore what Friend.Tech is, how it works and what is programming coding how you can use Transak to get started on the platform. We will also provide you with free invite codes for the platform and tips on how to get more. The launch of FRIEND token and V2 stirred enormous hype, culminating in a community-focused airdrop few protocols manage to pull off.

what is friend. tech

Friend.tech’s future

If you ever decide to leave the group, you can simply sell your Keys, providing a convenient method of liquidation. Before we delve deeper into what sets Friend.tech apart, let’s understand how this innovative platform operates. If that feels Ponzi-ish to you, do not ever ask a Bitcoin maxi about the hard cap on the cryptocurrency. The number of scams online increases a huge amount during Black Friday and Cyber Monday. Worried about being caught out by cybercriminals this holiday season? Here are a few scams you should watch out for while buying presents.

The team is entirely anonymous — as in, the actual identity of who’s running the app is unknown. It’s probably a good idea to know who, exactly, is behind a project if one is to invest a significant sum of money into it. Once the deposit has been confirmed, you are prompted to buy your own key first in order to start using the platform. The next step is to link your Twitter (X) account to the Friend.tech app and authorize access to X.

The surge of decentralized social media  represents a transformative phase in mass social interactions. When others buy a user’s keys, they gain access to private chat rooms and exclusive content from that user. Conversely, users can buy keys from others to access their exclusive content and engage with them directly. So, the best time to sell would be when the number of shares in circulation is relatively high. This would minimize the slippage and price difference between buying and selling, reducing the potential loss and maximizing your profit.

The last four days alone have witnessed an impressive upswing, with user numbers soaring by ~120%. You buy your own first share for 0 ETH, but the next one will already have a very low price attached to it. After that, the price grows exponentially with the growth of the number of outstanding shares (those purchased and held by users). In other words, the more popular your keys are, the more each new buyer will have to pay. There are also special bots to notify you when a new account joins the app.

This fosters a more user-centric social ecosystem that prizes privacy, control, and financial incentive over mere engagement. The exclusivity of invitation codes plays to the platform’s selective community-building approach, though this may change in the future to accommodate a broader audience. Friend.Tech has mentioned airdropping points to active users every Friday, with a total of 100 million points distributed over a six-month beta period.

Eight days later, on August 19, 2023, Friend.tech announced that it had secured seed round funding from crypto venture capital firm Paradigm. This news sparked speculation about the possibility of an airdrop and a potential token launch in the future. As more users join and engage on the platform, the value and utility of the social tokens (keys) may increase, fostering a vibrant and economically incentivized social ecosystem. As the platform grows and more users interact by buying and selling keys, it creates a form of social economy where users can potentially profit from their social interactions and content.

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