Friend.tech Implements Punitive Measures Against Forked and Copycat Versions
Friend.tech, a decentralized social media platform on the Base blockchain, has announced that users who migrate to forked or copycat versions of its platform will face punitive measures. These measures include disqualification from earning “reward points” and the loss of previously accumulated points. The ultimate utility of these points has been cryptic, with speculation ranging from conversion into governance tokens to potential financial benefits for users.
Financial Woes for Friend.tech
Friend.tech’s announcement comes at a time when the platform is experiencing financial difficulties. Daily revenues have dropped by over 85%, and the daily transaction volume has seen a slump of over 95%. The number of active users has significantly declined, leading to Friend.tech falling out of the top ten list in terms of daily revenues. Despite these challenges, the platform has seen an influx of OnlyFans accounts and has received a seed round investment from Paradigm.
Hot Take
Friend.tech is taking a firm stance against forked and copycat versions of its platform, aiming to maintain the integrity of its user base and rewards system. Although facing financial difficulties, the platform’s recent influx of OnlyFans accounts and investment from Paradigm indicates potential for growth and innovation. It will be interesting to see how Friend.tech navigates these challenges and attracts a broader audience in the future.
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