- Friend.tech is a decentralized social media app that allows users to tokenize their profile and that of their friends.
- It is currently doing so well, even more than Bitcoin. Apparently, it has more than $1.4 million in fees generated.
The crypto industry always provides more room for innovation, which is what Friend.tech is doing with their invention. They want to create a new type of social media where people can earn by selling the shares of their friends’ profiles. But something happened. This new project surpassed Bitcoin in the amount of fees and revenue generated.
What is Friend.tech?
- Friend.tech is a new crypto project that looks very promising, considering the potential it brings. Maybe, Twitter (now X) might be having a new competition judging from the promises of this crypto project.
- Apparently, it is a decentralized social media app that allows users to tokenize their friends. In other words, this decentralized social media platform will enable you to buy and sell shares of your friends’ social media profiles.
- Furthermore, many factors determine the value of your profile or that of your friends. Things like the number of followers your friend has, the engagement on their posts, and their overall influence will determine the value of each profile on this platform. Due to the transactions in this new decentralized social app, it generates a lot of fees, even more than Bitcoin and many other blockchains.
Friend.tech Generate More Fees Than Bitcoin and other Blockchains
- Apparently, Friend.tech is taking the crypto industry by storm. A lot of things are happening which seem quite different. The increased activity on this new decentralized social media is taking it to new levels.
- According to a ranking provided by DefiLlama, this crypto project generated more fee revenue than that of Bitcoin and other prominent blockchains. In the rankings, this crypto project is currently at number 3. Apparently, this overtakes Bitcoin by a wide margin. At the time of writing, Friend.tech had a fee of more than $1.4 million.
- Compared to Bitcoin, there’s a huge gap between the two. Moreover, Bitcoin takes the number 8th in the rankings with only a little over $400,000 in fees generated. Apparently, this is more than 3 times less than Friend.tech.
More Revenue Generated
- Moving over to the revenue, Friend.tech is still beating Bitcoin hands down in this metric. Apparently, Friend.tech generated more than $709,000 in revenue. On the other hand, Bitcoin has zero.
- Nevertheless, Bitcoin isn’t the only cryptocurrency this project is better than in these metrics. It is the only Ethereum and Lido network that is better than this crypto project currently. Apparently, it is better than Tron, Uniswap, Convex Finance, Pancake Swap, and many others.
Conclusion
Friend.tech is a new crypto project that wants to change how people communicate on social networks. It wants to create a new method of earning by selling the shares of a friend’s profile value. Assuming your profile or that of your friend has more followers and more engagement, there are chances of making more money selling their shares.
