Is Friend.Tech Dead?

September 5, 2023

Unlocking the hype behind Friend.Tech and SocialFi sector.

Image version
Text version

The newest social app for Web3 is storming the online communities. has 20K key holders in total right now and 180K total users.

But, Tech Crunch said it’s dying. Is it?

First, what is

Friend.Tech is a Social-Fi dapp deployed on Base.

This app lets users buy and sell their online popularity, sort of like trading cards.

It's an improved version of @desoprotocol BitClout. was and still is 
pretty famous.

Unique Buyers: 127k

Unique Sellers: 57k

High Retention: Over 75% of key holders use the app the next day and over 50% are still using it after a week

How Does It Work? works by turning each user into tokens that you can buy, sell, or hold on to, called a "social token."

It's a bit like owning a piece of someone's popularity or reputation online.

As people become more popular or trusted, the value of their token might go up. isn’t your typical social media.

At its core, it’s a club where membership comes with a price tag.

Here’s how it breaks down:


It starts with the creators or influencers. They have something valuable: access to themselves. This access is represented as "keys."


Fans or followers want these keys. Why? Because having a key lets you chat directly with the influencer.


Unlike other platforms where anyone might drop a message to their favorite influencer, has closed doors. You need a key to get in.

Money Matters

Now, here’s where things get interesting. If you decide to buy or sell a key, a 10% fee applies. Half of this (5%) goes to, and the other half (5%) lands in the creator's pocket.

Why Are People Talking About It?

It's talked about a lot on X (formerly Twitter).People are curious about this new way of looking at online relationships.

Instead of just following or being friends, you can invest in them.

It's a fresh take on social networks and has many people excited.

The Mechanics Behind is built on a straightforward idea. As a fan, you can buy "shares" to become part of an influencer's circle.

Once you're in, you get special access to chat directly with the influencer and their private group chats.

When you spend money on shares, it's split into two parts: a bit goes to the platform, and a bit goes straight to the influencer or creator.

The Brains Behind

The idea of was brought to life by @0xRacerAlt and @shrimppepe.

They're not new to this world; they've worked on other big projects like Stealcam.

People see in different ways. Some say it's a meeting place for crypto-savvy folks, while others believe it's the future of how creators will earn money.

Some say they aren't dying though.

The Shares wallet holds ETH, indicating traders holding shares on the platform.

Discounting ETH price, that’s a drop of slightly over 10% these days. More on it, here.

But they are losing TRACTION. 😟

Although they still enjoy a large user-base,the traction is going down, clearly.

You might find this piece interesting: @bantg @blknoiz06 @CL207 @xerocooleth

Smoothie’s Key Takeaway:

In essence, is an bold and innovative attempt.

Think of it as a ticket. You buy this ticket to join a group chat.

But there's a twist: the influencer can only talk to you through group messages, not one-on-one chats.

If you ever change your mind? No worries! 
You can always unfriend


Community Highlight

Join the Smoothie Newsletter

This is a special newsletter. Every week, we deconstruct the best crypto trends and share those insights with you.