Friend.Tech, the decentralized social media platform, has officially announced the release of its highly anticipated Season 2. Set to debut in spring 2024, this upgrade promises a host of new features and improvements, signalling a major step forward in the platform’s evolution.
The Story So Far
Friend.Tech, operating on the Base, Coinbase Layer 2 platform, gained huge attention and user traction since its launch in August 2023. Recognized as a marketplace for users’ social networks, the platform allows the creation of 1-to-many group chats through the purchase of account keys, often attracting crypto personalities and creators seeking monetization.
Attention on the platform came during a time when NFTs were in the midst of their worst bear market ever, with prices, interest, and general sentiment at crashing lows. When Friend.Tech came along, it breathed some life into a weary culture that was starved of both fun and profits. Content creators saw Friend.Tech as a viable avenue to monetize their work, alpha, and market knowledge. You can read back on our feature from September asking the question “Is Friend Tech Solving NFTs Drawbacks?” to get a feel of what impact it was having back then.
Despite its early success though, Friend.Tech faced challenges, including criticism for the anonymity of its founders and concerns regarding performance issues and slow deposit bridges. Transaction figures on the platform experienced a drastic 99% slump from its peak in mid-September, raising concerns about the platform’s sustainability and user engagement. The decline in activity has been attributed to various factors, including scammers and bot activity, which likely deterred new participants.
The next Chapter
The impending release of Friend.Tech’s Season 2 is generating excitement among OG users of the platform, and those looking to find out what the fuss was about in the first place. While specific details about the new features remain shrouded in mystery, the company’s commitment to delivering a more streamlined and user-friendly interface is at the forefront.
To address the decline in user engagement, Friend.Tech has released a teaser trailer for Season 2, attempting to reignite interest amid the recent activity slump. The trailer, featuring a K-pop song, hints at the upcoming version without divulging specific details. Friend.Tech hopes this teaser will act as a catalyst for renewed user interest and engagement.
When launching back in August, Friend.Tech swiftly amassed over 100,000 users and $25 million in total value. As it gears up for Season 2, it faces the challenge of regaining its momentum and tackling the core issues that led to its initial decline. The platform’s unique approach, serving as a marketplace for social connections, will need to resonate once again with users in the new world of SocialFi.
Will they recapture that attention? That remains to be seen, but it appears that an airdrop for OG users is not too far away now. This airdrop could potentially be a catalyst for it’s resurgence.
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