Friend.tech users become shareholders after the platform proposed a new ownership model and offered shares to the community.
This move is intended to empower platform users. They now become investors with a stake in the company's prosperity.
This reflects a shift in investment dynamics towards democratization in the digital space.
Friend.tech Users Become Shareholders
Friend.tech users will now move from being just content creators or consumers to becoming real investors in the platform.
This action strengthens the bond between users and the company, thereby fostering a stronger sense of community.
This initiative was made possible by an agreement with previous shareholders, who agreed to transfer the right to Token Sale directly to platform users.
Friend.tech is taking a major step towards a user-centric model, where users not only shape the future of the platform but also Chia in Friend.tech's success.
Friend.tech's transformation opens up new opportunities for user engagement and investment.
Friend.tech's Popularity Is Declining
Friend.tech was launched on August 10, 2023. The platform has become one of the leading decentralized applications (dApps) on the Base Layer. Friend.tech has attracted over 200,000 users with a volume exceeding $230 million.
The platform converts user influence into trading Token called “keys.” These units give users access to the attention or influence of content creators.
The model has attracted not only crypto influencers but also NBA players and esports personalities, thereby expanding its appeal beyond the crypto market.
The participation of Paradigm (an investment firm affiliated with Coinbase) has added to the confidence in Friend.tech's potential.
However, the platform also faces privacy concerns. In particular, the possibility of doxxing users due to the link between X-profiles and Ethereum addresses.
Friend.tech has clarified that the alleged leak actually came from a public API, and they also emphasize the importance of users protecting their personal information.
Recently the popularity of Friend.tech has shown signs of decline.
According to a Dune analytics panel, the project generated more than $1 million in revenue at its peak last year.
However, revenue has recently dropped below $15,000 over the past few months.
According to Cryptoslate
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