Last week, the new app friend.tech was still the big thing in the crypto scene. But the hype is over, as falling sales show. But now OnlyFans “creatives” are flocking towards friend.tech with lots of bare skin.
When we told you about friend.tech eight days ago, the new base app dominated the day’s discussions in the crypto scene. But the hype is already over, as the data from DeFiLlama shows. At its peak on Aug. 21, transactions on friend.tech measured fees of $840,000 – by yesterday, Monday, that figure was down to $80,000.
The trend in friend.tech user numbers is just as clear: 4,700 participants were active every hour on August 21, and now there are only 600, according to data from Dune. friend.tech’s concept of monetizing high-reach Twitter accounts has earned crypto celebrities like Cobie, Racer and Hsaka more than $100,000 each in Ethereum (ETH) in the few days of hype, without them having to do much. However, the invitation codes for friend.tech in the beta phase remain highly sought after.
Because the project apparently hasn’t quite died yet. Since the weekend, it has also been possible to send photos on friend.tech. This is now leading to new accounts from outside the crypto scene suddenly joining in and generating noticeable sales. There is a lot of naked skin involved here, because this new wave of participants comes from OnlyFans. The platform is known for erotic content aimed at adults. So, on one side, crypto-nerds at friend.tech – and on the other, women eager to show off. Other Ethereum experiments at the so-called creatives of OnlyFans have produced mixed results.
Conclusion: friend.tech a flash in the pan?
It is clear by now: friend.tech can only establish itself if new participants continue to sign up constantly, who are already willing to put money on the table for a bit of X-game (formerly Twitter). Only a few whose X accounts have large numbers of followers can then profit. This basically smells like a pyramid scheme, as Beanie notes. In addition, there is criticism of possibly lax handling of private data and immature technology at friend.tech. It was probably a small summer hit with friend.tech, which had its momentum for a week.