Within 24 hours of its launch, the decentralized social platform Friend Tech took the market by storm by amassing more than $1 million in transaction fees leaving behind giant networks such as Bitcoin, BSC, and Uniswap.
However, what is Friend Tech and why is the social dApp creating some much buzz just upon launch? Friend Tech is a social media decentralized application (dApp) that offers users the ability to tokenize their friends’ profiles. This platform enables the trading of shares linked to the social media profiles of friends.
Over the last 24 hours, Friend Tech has generated more fees than #Bitcoin, Uniswap and BSC.
Specifics aside, what excites me is how quick market penetration occurs when a product has a strong market fit.
The next killer dApp can gain traction much quicker than you think. pic.twitter.com/jwUsV7l9QN
— Miles Deutscher (@milesdeutscher) August 20, 2023
Within 24 hours of its launch last week, Friend.tech drove 4,400 ETH ($8.1 million) in trading volume while surpassing the world’s largest NFT marketplace during the same time.
The excitement surrounding the Friend.tech social dApp continues amid its recent partnership with Paradigm and its upcoming airdrop. The social dApp platform recently conducted a Series A at $50 million valuation. The Series A funding round included token warrants, confirming the forthcoming issuance of a token. Paradigm was the sole investor in the seed round, creating an incentive for them to hint at an airdrop.
The airdrop would also be a great marketing strategy for Friend.tech since it gets people talking about the platform and using it.
Qualifying for the Friend Tech Airdrop
Users need to qualify for the Friend Tech airdrop by downloading the app on their mobile handsets and login in with their Twitter account. Later, they need to fund their Base wallet with ETH and buy their first shares. After completing your setup, these are some of the actions that are more likely to accumulate points for you:
- Purchase your own share: This action allows others to acquire additional shares, generating fees in $ETH for you.
- Trade shares of other creators. Engaging in this activity boosts your overall transaction volume. However, be cautious of spreads and fees associated with each transaction.
- Distribute your referral codes. On the “Airdrop” page, you will receive three distinct referral codes. Share these with others to increase your points.
Note that speculating on accounts could be risky and extremely volatile. so do it with utmost caution at your own risk.
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