friend.tech: Eliminating information noise from popular social media, seeking social value through crypto incentives

2023.08.15

friend.tech: Eliminating information noise from popular social media, seeking social value through crypto incentives

Encryption is primarily about speculation and yield generation, so value is created by finding faster and safer ways to make money than other alternatives.

2023.08.15 - 08:47:31

friend.tech

Navigating Web3 tides with focused insights

Encryption is primarily about speculation and yield generation, so value is created by finding faster and safer ways to make money than other alternatives.

Written by: ADAM

Translated by: TechFlow

friend.tech launched quietly last week and immediately found product-market fit among crypto-native users. I believe Web3 (crypto and NFT investing, trading, building) is inherently social, and friend.tech could become a multi-billion dollar killer app.

The Problem

Currently, we need to gather information about new blockchains, DeFi apps, NFT projects, or games from multiple different sources. This requires constant switching between browser tabs and applications—such as Telegram, Discord, Twitter, and our favorite Spotify or YouTube subscriptions.

Web3 has an extremely steep learning curve. Onboarding new users requires education and experimentation (with risk), and the social environment remains fragmented into isolated silos. Many excellent researchers and traders fail to receive the recognition they deserve due to lack of followers, while accounts posting memes and jokes gain hundreds of likes and retweets.

With the introduction of content monetization rules, spam on Twitter will only get worse.

Market and Opportunity

Social media reveals our generation’s obsession with attention. Followers, likes, retweets, and comments are serious incentives for content creation, and when financial incentives are layered on top, things can get wild.

For most people, in order for crypto and Web3 to go mainstream, the onboarding process must be simple / abstracted away. As of August 2023, 86% of the global population uses smartphones, so companies like Coinbase are developing products that enable easy entry via apps such as Coinbase Wallet. Coinbase’s Ethereum Layer 2 chain, Base, is the perfect tool to onboard users seamlessly into killer social apps like friend.tech.

Crypto-native users have already begun migrating to friend.tech to collaborate with their favorite crypto Twitter figures and gain access to actionable trades, airdrops, education, and other valuable insights.

friend.tech Is the Solution

friend.tech is an information aggregator whose value is objectively quantified by market participants. An individual's worth can be determined by the content they create, trading ideas they share, airdrops they uncover, or any diligent, actionable intelligence provided through private conversations.

What I love most about friend.tech is that it filters out the noise from Twitter timelines, Discord chats, and Telegram spam, enabling simple, refined information delivery from trusted sources.

The integration with Twitter is brilliantly executed, making it easy for anyone—whether crypto-native or not—to join seamlessly. Additionally, the developers successfully bypassed Apple’s App Store by designing the app to run as a Safari web page on mobile devices.

Potential Features and Ideas

friend.tech will help foster a reward mechanism for strong work ethic and tangible results. Crypto is largely speculative and yield-driven, so value is created by finding faster, safer ways to make money than alternative options. For users willing to spend time researching, friend.tech offers a stable platform to attract a broad audience of paying subscribers interested in their insights. friend.tech levels the playing field between Twitter popularity contests and genuinely actionable alpha.

New crypto traders, funds, and retail investors can find increasingly objective data on who provides real value. The pricing or share model may require adjustments, as it could be manipulated.

I believe paid groups on Discord and Telegram will eventually migrate to friend.tech, where pricing will become more efficient based on content quality. I also see Substack writers moving their content to crypto-native platforms (with gated access), freeing themselves from censoring intermediaries.

I also expect many crypto-native teams to build project pages on friend.tech and integrate AI bots to streamline due diligence and prioritize support.

What Can You Do?

First, create a friend.tech account, buy shares of your favorite Twitter personalities or researchers, encourage them to share insights on friend.tech, and contribute to your own community to boost your stock price.

Trade shares on FriendMEX, the trading dashboard built by Anish Agnihotri, where you can speculate on Twitter influencers. There is no token yet, but I’m very bullish on this product. The first friend.tech airdrop is expected this Friday (8/18/23), so now is the smart time to join and start exploring.