A quick look at Friend Tech, a new social application in the Base ecosystem: why it exploded

Author: Bankless, Source: Author Twitter @BanklessHQ; Compilation: Huohuo/vernacular blockchain

Base For early pioneers, there are many opportunities on the chain, and friendtech is one of them! Here are some facts about this Web3 social dApp that caused a stir in crypto circles and Twitter:

1. What is friendtech?

**friendtech is an invitation-only Web3 social dApp, **native to BuildOnBase, that allows you to buy and sell “stakes” connected to your Twitter account. Owning someone’s stake will give you access to a private chat room with them and other stakeholders!

2. Well-known figures

Access to many crypto twitter personalities (except @TrustlessState) is available for purchase on the platform!

Talk to @cobie for as little as $3000 or @zhusu for as little as $1000 to get your 3AC funds back.

3. Activities

friendtech burst into fame on August 10th.

Despite its relatively short existence, the project has processed over 150,000 transactions for 10,600 unique buyers, generated 5,000 ETH ($9.3 million) in volume, and earned 251 ETH ($464,000) cost of.

4. Privacy concerns

While many eagerly installed friendtech, others expressed concern about the lack of a privacy policy.

For the privacy conscious, if you’re considering friendtech, remember this sage advice from @DefiIgnas:

1. Sign up with an anonymous email (because they don’t have a privacy policy).

2. Top up your wallet from a new wallet (which was topped up from the exchange).

3. Be patient, under high load the app will not perform well.