Pontem Network is an Aptos Blockchain Product Studios Building Move native financial infrastructure for billions of users. The app interface has a special Airdrop tab where you can request points. Points should have some utility once the beta period ends, but so far it’s not known what. The first person to “steal” an NFT gets it absolutely free, but all subsequent stealers have to pay to reveal the image. If your NFT gets stolen, you’ll suddenly see that there’s more ETH in the wallet but the image is gone. The first eggs minted at 0.1 ETH, but for every 100 NFTs sold, the price went up by 0.1 ETH to the maximum of 1 ETH.

• To bridge ETH to Base, you can use the official bridge (Ethereum to Base and back only), Synapse Protocol, Stargate, Portal by Wormhole, and other bridges.
• But in May, the developers decided to rebrand Stealcam to friend.tech, in order to grow its audience among Web3 influencers and creators who want to monetize their content.
• For one, as with any relatively new crypto platform, the potential for manipulation of various kinds could be high.
• The price of each key is determined by an algorithm that takes into account the supply and demand of the key, as well as the trading volume and activity of the user.
• In this way, Friend.tech can be seen as a social media platform—or, perhaps more specifically, a sort of offshoot of X.

According to a tweet from Yuga Cohler, senior staff software engineer at Coinbase, friend.tech users create a profile to sell “shares” of themself to their followers. At this time, buying someone’s share grants owners the ability to exchange private messages with them. Their Twitter bio “Your network is your net worth,” encapsulates the idea behind friend.tech. Friend.tech essentially allows anyone on the app to bet on the social worth of other users on the platform, through the purchase of shares of the other user. Though friend.tech activity has cooled down considerably, it’s still too early to say that most of the hype has died down.

• Most of the Web3 social projects we see today are replicas of existing successful social network products, with the addition of encryption functionality.
• Now you can deposit Ether to the mainnet and bridge a minimum of 0.01 to your Base wallet account.
• Another aspect of Friend.tech that may give some potential users pause is the fact that it was rebranded and reworked just a few months before the beta launch.
• Available on both Android and iOS devices, Friend.tech aims to redefine how we perceive social interactions online.
• Users were aware of that and still paid thousands for the opportunity to tweet — and then brag about it.

The app mentions that the points will have future uses in Friend.tech, which may translate to a future token airdrop. Nevertheless, this is speculative, so pay attention to the official Friend.tech accounts for information regarding the project. When purchasing “Keys”, the money spent is inclusive of the platform and creator fees.

Self-hosted payment gateways

Friend.tech launched on August 11, and by August 28 it had reached $6.4 million in TVL with over $1.5 million in fees collected on some days. With $80 million in trading volume and 125,000 unique traders, it is the most viral thing in crypto after $PEPE. After a few minutes of setting up your account, you may be lucky enough to have “keys” to your chatroom “bought” by other users or even bots. If you buy a user’s tokens, you can communicate with them directly, and now this new asset will be part of your portfolio.

Therefore, the more shares purchased, the higher the chances of the prices increasing. RookieXBT stated that should i sell my bitcoin experts predict what will happen to the price all earnings contribute to @magnetmoneyshow’s total of $577,559 in 2023. Accordingly, in the event that users choose to withdraw from the group, they may liquidate their group shares.

Why Trade FRIEND on Morpher?

Then, those six people are placed into a group chat on Pie, where they can get to know each other before the event. BitPinas is a news website that portrays the most accurate coverage and representation of crypto, blockchain, play-to-earn, and NFT news and updates in the Philippines since 2017. One of the most recent joiners to Friend.tech is Crypto Bitlord, whose social media account has a following of 297,400 to date. He is the DeFi core of layer 2 network Mantle, and his X account currently has over 45,700 followers.

If you aren’t living under the rock, you all must have heard about Friend.tech which was launched on August 10 and has blown up the crypto circle. Once you’ve acquired an access code, you will have to sign up using an email or a phone number, and then link your Twitter profile to the application. Your Twitter profile will serve as the public facing profile on friend.tech. Friend.tech is a mobile-only application, but unlike most apps, it is not downloaded from the App Store or Google Play Store. Instead, users will have to visit friend.tech and save the page to their Home Screen on their mobile device.

Published in Pontem Network

If you use platforms like Stripe, Shopify, or PayPal, the gateway is already included. Self-hosted gateways allow you to collect payment information directly on your website. This in-house approach grants you full control over the checkout process. With an $11.5 million Series A raise and the funds to pay organizers to host events, Pie has grown to over 130,000 monthly active users, despite only being available in San Francisco and Chicago. But more users meant that the in-person events hosted through the app were also getting more crowded, making it harder for people to connect.

What is Friend.tech — the SocialFi sensation on Base?

Friend.tech generated extensive discussions among Twitter’s KOL community upon its initial launch, and its hunger marketing tactics have further fueled this trend. When everyone is talking about Friend.tech’s invitation codes, it becomes the best advertising tool in itself. Friend.tech’s ingeniously designed incentive rules have fundamentally eliminated low-quality user accounts. Its early users and current promoters are all opinion leaders in a certain field, and these KOLs have a large and sticky fan base.

Simplification of Web3 process

Since it launched less than two weeks ago, Friend.tech has made around $25 million. 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.

A more privacy-friendly alternative is using FriendMEX — a trading app that allows you to buy and sell keys without creating a friend.tech account. You how to buy ren won’t have access to the private chats and the airdrop, though (see below). Friend.tech is a viral SocialFi dApp on the Base blockchain where you can buy “keys” (initially called shares) — social tokens issued by Crypto Twitter influencers. Friend.tech is a hot yet continuously controversial social trading protocol.

How to set up a Friend.tech account?

However, some within the crypto community have already looked into the history of the known online pseudonyms behind Friend.tech and there are already red flags. Members of the team behind Friend.tech were allegedly also behind a project called Kosetto, which sold wearable NFT stickers. Then, suddenly, in early 2023, the project was abandoned, without notice to users who had invested.

It has all the other classic schemes usually connected to crypto projects as well, such as a fee-sharing mechanism and airdrops to reward users. The buying and selling of keys create a marketplace dynamic where social interactions have a financial value. The price of a user’s tokens can increase with demand, and users can cash out their earnings through any Base wallet, converting it back to ETH. Every user on Friend.tech becomes a social token, a unique asset that can be bought and sold. Your online presence now has tangible worth, and the ability to trade social tokens 12 best bitcoin wallets in the uk 2021 adds a layer of financialization to social networking. In this way, Friend.tech can be seen as a social media platform—or, perhaps more specifically, a sort of offshoot of X.

Through this special platform, followers may interact directly with the influencer, creating a bespoke and private engagement experience. Not unlike most new crypto apps, users have already begun speculation over the airdrop potential of friend.tech. Trading of a user’s shares generates a sales tax, which is distributed to the specific user. This means that your network and the attention that you command directly correlate to how much you make from the people trying to trade your shares.