Friend.tech's Remarkable Revival: Surpasses Ethereum NFTs in Trading Volumes
Fast Facts:
- Friend.tech has made a stunning return after dwindling in user engagement.
- The platform’s trading volumes have exceeded those of NFTs on Ethereum for the third time.
- With over 155,000 unique traders and 2.3 million transactions, Friend.tech is on an upward trajectory.
- It allows users to treat social media accounts like stocks, offering perks to investors.
- Despite past challenges, Friend.tech is proving its potential for future success.
Friend.tech, once considered virtually defunct, has made a triumphant return to the digital stage. After facing a sharp decline in user engagement, which had pundits speculating about its sustainability, the platform has come back with a vengeance. Daily transactions had dropped by a staggering 95% by the end of August, leading to Friend.tech’s apparent demise. However, it has proven doubters wrong by showcasing remarkable strength.
Surpassing NFTs on Ethereum
Friend.tech’s resurgence is not just about returning; it’s about dominating. The platform has achieved a trading volume of $12.3 million, surpassing Ethereum’s NFT trading volume of $9.2 million. This marks the third time Friend.tech has pulled off such an upset in the NFT market. On August 20, trading volumes for Friend.tech and NFTs were $14.1 million and $12.4 million, respectively. The following day, Friend.tech recorded a trading volume of $16.9 million, once again outpacing Ethereum’s NFTs, which stood at $11.2 million.
A Revolutionary Social Media Ecosystem
Friend.tech’s success can be attributed to its innovative approach. It treats social media accounts like stocks, allowing users to purchase shares or “keys” of active accounts. Investors are rewarded with special perks, direct messaging capabilities, and access to a private chat room. Despite facing challenges like a phishing scam and reconsidering penalizing users for using forked versions, Friend.tech has proven its potential for future returns.
Friend.tech's resurgence is a testament to the resilience and innovation within the digital space. It's not just about making a comeback; it's about rewriting the rules of social media and digital investments.
A Growing Community and Promising Future
Launched on the Base Network on August 10, 2023, Friend.tech quickly gained traction, amassing over 100,000 addresses. The platform has fostered a community of more than 155,000 unique traders, with over 2.3 million transactions according to Dune Analytics. With the all-time trading volume already crossing the ETH 123,000 mark, it’s clear that Friend.tech is on an exponential growth trajectory. In a digital landscape where comebacks are celebrated, Friend.tech’s resurgence is not just a return; it’s a remarkable triumph.
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