Experts claim Friend.Tech crypto project hype will exist for short term
Friend.Tech social media crypto project grabbed huge popularity within 10 days.
Friend.Tech is a newly launched decentralized social media platform concept. On 11 Aug, the project team launched this platform on the Base blockchain network. So far more than 65,000 crypto & non-crypto new users signed up on Friend.Tech.
At the platform, any person can purchase shares of another person and in return, the share purchaser secures the right to chat with the user privately. In short, this is an indirect payment model to chat with celebrities & big creators.
Popular crypto commentator, Yazan shared his opinion on this business model and said that it will fail because of its bad pricing model, which can be manipulated badly because of the share concept.
Yazan indirectly dragged the attention toward the misuse of this platform by creators, as they will make money for doing nothing.
Opposite to these critics, some people praised this crypto project and said that this was for which the crypto devs were looking to bring a better use case of cryptocurrencies.
According to data available at DefiLlama, this Crypto project generated nearly $1.42 million in the last 24 hours.
Friend Tech Token Scam
Just a day ago, we reported that an unknown person deployed a new token “Friend Tech Token” & days later he withdrew all the liquidity pool balance & finally made nearly $225k illegally.
Crypto trends 2023
We can consider Friend.Tech is a new crypto trend of this year but we can’t predict the lifetime of this new crypto trend.
From Feb to March of this year, Bitcoin Ordinals (BRC-20) grabbed huge popularity and at the time the majority of BRC-20 supporters claimed that Bitcoin Ordinals will bring a next-level use case for Bitcoin but a couple of months later the project lost popularity badly.
For the last 3 months, no one talked about the concept of Bitcoin ordinals.
Read also: Token developer drains $226,500 from the liquidity pool: Friend Tech Token Scam
