Aug 21, 2023, which lets X (formerly Twitter) personalities issue shares on its app for access to a closed group chat, has made over $1.04 million in fees, set at 5% of the value of each transaction over the past 24 hours.

Video transcript

Friend tech becomes massive ether money machine. As NBA players face Clan join in and then tech also gains 100,000 users in days even in depths of a bear market. So if you guys don't know, um friend is a social tokenization protocol. It's built on base which is coin bases. Um Open source Blockchain, there's no token affiliated with that. So if you see another base, coin floating around, it's not affiliated with base or coin base. So please be careful, do your due diligence and it's from invite only. So if you don't have a friend code, you can't join. So it's kind of like high school. If you weren't cool enough to get invited to a party and you showed up, sometimes they would beat you up. I don't know if that happened to you guys. Um But basically it tokenize Twitter slash X accounts because we rebranded to X. Um And everything is on chain, everything is on chain and um it made more revenue than Bitcoin, Tron and Unis in the past 24 hours, which makes sense because again, this is the market um and everybody's broke. But anyways, I, I haven't tested it out. One of the things I did do is I went to the official Twitter page because that's always where you should start if you can verify that's the real accounts. Ok. Um, I clicked on the link and it wanted me to download the mobile app. I don't like to do crypto related things on my daily cell phone. I like to use a burner. So that kind of protrude me a little bit. I wasn't really like it because I feel like it's a lot easier to get hacked and whatnot. So who wants to take this? I got you. OK. Let's go. I downloaded it and I was with you, Wendy. I actually don't like using my phone for crypto things. This one was a little different because you couldn't use on your desktop. And so you had to use on your phone, but then there wasn't like really an app for it. You had to go to like Safari or chrome on your iphone or on your Android, then download it, then add it to your home screen. And so you basically going through like safari or whatnot. So a little odd there, the thing that's interesting to me about this is basically like a sort of like a light polling sample on how many people are still paying attention to crypto who are like willing to download stuff like around with things. It seems that there's about 100,000 unique users, right? Now of friend. And that means that there's probably 100,000 people who are interested, willing to play around with this. Maybe there's like a little higher end of people like yourself who quite haven't downloaded yet, but I'm sure will in the next few weeks, if it continues to grow at the same pace, now that if is big, right? Because we've seen a lot of these projects take off for a few weeks and then die down and we forget about them forever. That's what happened with so many of these different social ideas. The thing now we're kind of hitting though is that peak interest with NBA players jumping into it. Some e-sports guys jumping into it, their interest, of course is probably just be in the next thing. And this is an interesting project, you trade digital shares of each other. There's an invite code aspect to it. So I think that's where we're getting some interest right now. But I'm waiting for like a few bigger names to jump in and then we'll see if there's some uh power with friend. Yeah, but, but the thing is, I know Jenny had your hand up, but I have to comment really quick, two things. First and foremost, generally we see Crypto Twitter, absolutely clown when the celebrities come in and they say that that's the top. So it's gonna be interesting to see the type of feedback there also too. We of we like to look at um unchain data and look at how many different wallets have been created for different types of protocols, et cetera. And with wallets, you anybody could create a wallet. I can, I have like 100 different meta mass wallets to manage. Yes, I know. I'm insane. But we can also maybe apply that. There is maybe only 100,000 people left that are daily active users of crypto instead of using unchain data. Just a thought, I may be stupid for saying that. But Jen, yeah, you know, will you said that we've seen these like crypto applications come come up with a bunch of users, hundreds of thousands and then we never hear about them again. We've seen the same with social platforms, right? Threads came out. So many people rushed to sign up and then no one really stuck around, no one really used it. And we've asked so many times on the show before, like, what does the future of social media look like? And what is web three's part in building the future of social media? And I think that this is quite interesting whether it sticks around or not, it kind of leverages that idea that like people want to be in these intimate circles where they feel like they have community where they feel like they're in groups and they have access to influencers and celebrities, even though even if they don't actually. And I think we've seen this kind of play out in like Facebook groups is super popular for Facebook. You know, when Taylor Swift had um those like listening parties, I believe, even her homes where fans were invited to come out and like hang out with her and, and be in these intimate circles. I think that's like the really interesting part here and it doesn't use an NFT or like all of this other complicated language and you're able to kind of leverage the audience you already have on Twitter and go to this familiar social place. So I think the concept is quite interesting. Whether it sticks around. That is BDZ. Wasn't this the one that, like everyone got excited about because there was the prospect of some future airdrop, is that the one is that we talking about the same one that was like, ok, cool. So, I guess that's my question. Why do we think people are doing this? Do we think they're doing this because it's a cool thing or do we think they're just out there digital prospecting, putting a stake in the ground? Should they up land eventually? Right. Yeah, I didn't actually know about the airdrop and I think it is that now that I know, I think it's a little bit of both, like there is an airdrop feature and it's like one of the widgets on the main tabs is airdrop feature, but it's unclear what that airdrop means as of now because they haven't done one yet you get like some sort of loyalty points, the more you trade people's shares, the more you use application. But I think that's also like a big draw is the fact like I can be in a group chat with people, I can be in a group chat with Kobe. I can be in a group chat with whoever is like the talk out of town on Twitter on this application. If I buy their shares, I think that's what's drawing people in. I think the airdrop will especially if there is like some monetary value at the beginning of it. But right now I think there's a little bit of two things going on here. When do you about this though? So is this the is this like the only fans for boys? Yeah, it sounds like it. I mean regular only fans for boys and girls I think, you know, you know everyone, you know when crypto Twitter seems to just slam women that have only fans though. So I'm just trying to, I'm just trying to be relatable here. OK? One plus one equals seven sometimes. True. OK, let's go away from that topic. Uh I will send you an invite code at some point. Yeah, only fans I can get to it.

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