Guide to Friend.Tech

Overview

In the dynamic landscape of social media and cryptocurrency, Friend.tech has emerged as a unique platform, blending the concepts of social trading and creator monetization. In this guide, we'll explore what Friend.tech is all about, its features, how to get started, and the potential limitations associated with this innovative venture.

What Is Friend Tech?

Friend Tech is a social trading marketplace that introduces a novel concept: buying and selling keys (formerly known as 'shares') of Twitter profiles. Conceived by Twitter users 0xRacerAlt and Shrimppepe, the platform is part of the lineage of other successful projects, including Stealcam. Initially seen as a social media hub for crypto personalities, Friend.tech has evolved into a breeding ground for the next generation of creator tokens.

The primary focus of Friend.tech is creator monetization, where followers or users can buy shares (keys) to establish a direct line of communication with their favorite influencers.

The Team behind Friend.tech

The brains behind Friend.tech, 0xRacerAlt and Shrimppepe, have a track record of successful projects, adding credibility to the platform. While there are varied interpretations of Friend.tech's nature, it undeniably stands as a pivotal player in the realm of social apps.

Features And Benefits of Buying Keys

When users buy someone's keys, they gain access to a private chat group with other keyholders and the individual they've purchased from. The platform's chat features are currently basic, allowing only text communication with hyperlinked URLs. One distinctive feature is the ability to monitor the buying and selling activity of friends, adding an engaging dimension to the experience.

Friend.Tech Airdrop - Will There Be One?

Friend.tech has initiated a Points Airdrop program, distributing points every Friday to active users. Over a six-month beta period, a total of 100 million points will be distributed, with their purpose to be revealed at the end of the beta phase. The airdrop program has garnered substantial attention, with over 835,000 users participating and significant ETH transactions taking place on the platform.

Over 835,000 users have bought account shares on the application and moved over 284,000 ETH (~$467M) while creating accounts and trading user shares on the platform based on data from Dune Analytics.

Download the Application

Friend.tech operates as a Progressive Web Application (PWA), ensuring compatibility with various devices and operating systems. The installation process is straightforward, requiring users to visit the Friend.tech website on their mobile device and follow a few simple steps.

Visit Friend.tech on your mobile device.

Click on the menu in the top right corner of your browser and select Install app. Allow the download to complete. You can now access the platform by tapping on the friend.tech icon from your application list.

Create a Friend.tech Account

Now that you've downloaded the application, it's time to create your account.

Step 1: Create an Account

Click Sign in to start your account creation process. In the next screen, enter your mobile number or use your Google or Apple account to sign up.

Step 2: Find a Friend.tech Invite Code

Currently, Friend.tech operates as an invite-only platform, necessitating access codes for registration. Fortunately, obtaining access codes is straightforward, with several options available:

Friend Referrals: Every registered user has six access codes that they can share with friends, enabling them to register and join the platform.

Direct from friend.tech: Access codes have been occasionally released by the friend.tech team on their Twitter account. Keep an eye out for these codes.

Twitter Hunt: Scouring Twitter for access codes is another effective strategy. By searching terms like "friendtech invite" or "friendtech codes" and filtering by "Latest," you can find unused access codes. Influencers often have multiple codes to distribute.

Step 3: Link Your Twitter

Friend.tech requires you to connect to your Twitter account. You will need to authorize the application to access your Twitter profile in order to user friend.tech.

Step 4: Fund Your Friend.tech Account

There are two ways to fund your account: you can either deposit ETH directly into your friend.tech wallet through the Ethereum mainnet, or send ETH to the provided address on the Base network. In the case of the latter, ensure that you are sending via the Base network or your funds might get lost. Do note that the minimum deposit is 0.01 ETH.

When this is done, you can now start trading shares on the platform.

How To Trade Keys On Friend.tech

Now that your account is funded, it's time to buy your first shares!

You can also purchase other users' keys on the platform. If you have a specific Twitter (X) account you'd like to connect with, you can search for their username under the Explore tab. Under the Explore tab, you'll also be able to see the top users, as well as who's trending at the moment.

Once you purchase a user’s shares, you can message them from your Chats tab.

How the ‘share’ prices are determined:

While the concept of shares or keys looks self-explanatory, the price appreciation needs highlighting. As mentioned previously, the price of keys follows the concept of the bonding curve, which often leads to exponential price surges. For the nerds, here’s a more detailed thread.

Limitations of Friend.tech

While Friend.tech presents exciting opportunities, it's crucial to be aware of potential limitations:

Privacy Concerns: The mandatory association with Twitter raises privacy concerns. Users are advised to revoke app permissions via Twitter settings to enhance security.

Security Concerns: Friend.tech's partially custodial approach and the absence of bot protection on the backend pose security risks. Users should exercise caution and consider additional security measures.

Profitability Concerns: Earning substantial income may be challenging for users without a significant social following, as the platform monetizes influence.

Conclusion

In conclusion, Friend.tech offers a unique blend of social trading and creator monetization. While it holds promises, users should stay informed about its features and potential limitations. This guide provides a starting point for those looking to explore this innovative platform, emphasizing the importance of understanding its operations. Keep in mind that this article is educational and not financial advice.