Friend.tech is very much alive and kicking despite critics announcing its obituary.
disappointment over the platform, calling it “dead” as a result of “greed and poor execution.” The latest data, on the other hand, suggests a different narrative.
Over the last several days, Friend.tech has observed a resurgence in trading volume as well as fees. Additionally, there is an upward trend in the number of daily active users contributing to this trading volume. On September 13th, around 16k users wereAlongside the trading volume and fee recovery, buyers and sellers have also surged on the same day. The number of unique buyers on the platformAccording to a newby Token Terminal, there are several contributing factors to the app’s growth.
Unlike other social dApps like Lens or Farcaster, which function under the open social-network model , Friend.tech is focused on the monetization of “gated” content. In the traditional Web2 models, the closest business counterparts to Friend.tech are Patreon and OnlyFans, but its primary competition for users, at its current stage, remains with X.
Moreover, the report indicated a strong possibility that Friend.tech strategically timed its launch to coincide with that of Base, aiming to optimize activity on both the protocol and blockchain. However, risks persist in terms of Friend.tech’s server, which reached capacity twice on August 11th, resulting in user access disruptions. Despite subsequent announcements from the team about server upgrades, users have sporadically reported poor user experiences due to server limitations.
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