A short time ago, the social application ranked among the most lucrative blockchain-based platforms in terms of revenue, prior to a decline in usage. Reviving the excitement is a fresh edition.
The social media app Friend is seeing a resurgence in friend.Tech, as a fresh update suggests, is an upcoming airdrop, drawing consumers back to one of the most lucrative platforms during the down market.
Following months of losses, Friend.Tech saw inflows of almost $7 million last week, increasing its frozen value to about $40 million, according to statistics. For the first time since November, weekly fees have surpassed $1.3 million, resulting in platform income of over $600,000.
Friend was constructed on top of Base, a layer-2 network. Crypto celebrities on X may now issue “shares” to join a private group conversation thanks to technological advancements. The value of the shares may increase if the owners of these conversations provide trading tips, token choices, or access to seed-funding opportunities, which is why users find them appealing.
The increase in activity is a lead-up to the release of the application’s version 2, which the makers have said would happen after April 20. In order to entice fresh users, the upgrade focuses on extending the platform beyond X.
Additionally, devs hinted about a FRIEND token over the weekend. Many users are hoping that they would be allocated according to the number of points earned as a reward for Friends.Technology utilisation – they amass prior to the token launch.
Going viral on X and attracting over 100,000 unique users—a substantial amount by crypto application standards—Friend.tech was making over $1 million per day in fees at its height in August. At that moment, the shares of some crypto X celebrities, such as @Cobie and @HsakaTrades, surged to three ethers, which is about $5,000.
As the novelty wore off, participation dwindled in the months that followed. Months of withdrawals began in November as security concerns tarnished the platform and prospects elsewhere in the industry.
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