Friend.Tech Announces Release of Version 2 in Spring 2024

How Friend.Tech Operates

Each user registering on Friend.Tech is required to link their account to X (Twitter). On Friend.Tech, their X social media account is then represented by social tokens that other users can purchase shares of using Ethereum.

To invest in someone’s shares, users offered to select the person of interest and buy a specific number of shares at a designated price per share. These shares signify the user’s stake in that individual’s popularity and interactions on the platform.

Similar to other digital assets, the value of shares is subject to fluctuations. For instance, if a user acquires shares at a certain price and the floor price (minimum price) of their shares increases shortly after, the user may choose to sell your shares at the higher floor price, potentially making a profit. Conversely, if the floor price falls below the user’s acquisition price, one might decide to hold or sell at a loss. All transactions are recorded and visible on the blockchain.

Users purchasing shares of other users, such as X (formerly Twitter) influencers, will receive direct access to the user’s content, chatroom, and the ability to message the user. This mirrors the functionality of a token-gated fan engagement platform.

The more reputable the profile is, the more shareholders it can attract, consequently increasing the value of its social token.

Friend.Tech Forges Ahead with Enhancements

In the recent development, the application introduced a new text feed feature, enabling users to actively impact post rankings. Users can vote posts up or down, thereby influencing their visibility on the platform.

The introduction of the interactive feed, accessible through the app’s dedicated posts page, indicates a move toward more democratic content management where users play a crucial role in shaping the narrative and visibility of posts.

The release of Friend.Tech‘s Version 2 trailer might be perceived as a strategic step by Friend Tech to reignite interest and confidence in its platform after continuous decrease in its daily transaction numbers over the last three months.

With the promise of new features, enhancements and changes, Friend.Tech Version 2 has the potential to turn the tide for the company, aiding it in re-establishing its position in the highly competitive tech market.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and engagement with scientific writing.

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Alisa Davidson

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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and engagement with scientific writing.

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