Decentralized social media app Friend.Tech is making headlines after it carried out a reported 100,000 transactions in quantity in a single day – believing to have even eclipsed OpenSea.
What’s Pal.Tech?
One of many hottest apps on Base, Pal.Tech, tokenizes crypto personalities by permitting customers to purchase and promote “shares” of individuals, which fluctuates in accordance with provide and demand. Possession of those “shares” then grants a consumer entry to a personal chat with that particular person
It served as one of many first gamers who ventured into decentralized social media, whereas seemingly gaining important traction previous to it devolving, because of its @TweetDAO project – an NFT which granted entry to posting from a shared Twitter account.
Its developer, who goes by the title @0xRacerAlt, was additionally the lead developer of @TweetDAO.
“The extra buying and selling and hypothesis on you, the extra money you make,” tweeted Coinbase’s Senior Workers Software program Engineer Yuga Cohler (@yuga.eth).
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At present, the social media app is in beta, invite-only by way of referral codes that Cohler has been generously sharing throughout X.
Cohler additionally shared that as a result of app’s surging recognition, it barely works as a result of “extreme visitors,” noting that the app’s knowledge latency is bigger than 10 seconds.
“The extra referrals, the extra ‘factors’ you get airdropped each Friday,” Cohler posted.
One consumer, who goes by the title of @functi0nZer0, put collectively a spreadsheet that outlines what he believes is the pricing mannequin for Pal.Tech, however isn’t confirmed.
Will This Frenzy Final?
Whereas Pal.Tech might be in comparison with earlier makes an attempt by apps like BitClout and DeSo Protocol, the group appears to assume this execution is way completely different, as a result of “tech selections” and “go-to-market technique.”
As for whether or not this can final past the present hype stage, that continues to be to be seen. Nevertheless, it does put an fascinating (and weird) perspective on assessing a person’s measured self-worth within the crypto house.
