What is Friend.Tech? Guide to Getting Started
Decentralized social media (DSM) platforms are all the rage.
Unlike traditional social media platforms such as Facebook and Twitter that operate on centralized servers, DSM platforms are built on blockchain technology. This innovative foundation enables multiple, independent servers to operate them, contrasting starkly with the centralized models.
The essence of DSM lies in its ability to provide users with more control, privacy, and potentially, rewards for their content creation without exploiting their data.
The growing interest in DSM represents a significant shift towards a more open web. This shift challenges the "walled gardens" mainstream social media platforms have erected over the years.
Friend.Tech is one such platform — a decentralized social media app focusing on the tokenization of social interactions.
However, accessing this app is not as straightforward as simply connecting your wallet or authenticating with socials. There are other steps involved, which act as a deterrent for users and FOMO-inducing ‘hypeman’ for Friend.Tech.
This article will explore what Friend.Tech is, how it works and how you can use Transak to get started on the platform. We will also provide you with free invite codes for the platform and tips on how to get more.
What is Friend.Tech?
Friend.Tech operates as a decentralized social network where individuals can tokenize their social credibility.
Users are akin to social tokens within this network, and they can invest in others' social networks, or have others invest in theirs, by buying and selling "Keys," which represent a portion of their online presence.
These keys grant access to private in-app chat rooms and exclusive content from the associated user.
The platform markets itself as "the marketplace for your friends" and facilitates a direct connection between creators and their audience in a gamified manner.
How Friend.Tech Works
Tokenization of Social Interactions
Users can tokenize their social presence on the platform by selling and buying "Keys" associated with their profiles.
When others buy a user's keys, they gain access to private chat rooms and exclusive content from that user. Conversely, users can buy keys from others to access their exclusive content and engage with them directly.
Think of these as token-gated chatrooms.
Setup and Access
Initially, users needed an invitation to join the platform. After receiving an invitation, they can head to the Friend.Tech website, log in using their Ethereum wallet, and deposit Ethereum (ETH) to their Base account directly via Transak.
Once set up, users could have their chatroom keys bought by other users or even bots. Keyholders then have the ability to communicate directly with the user whose keys they hold.
The buying and selling of keys create a marketplace dynamic where social interactions have a financial value. The price of a user's tokens can increase with demand, and users can cash out their earnings through any Base wallet, converting it back to ETH.
As the platform grows and more users interact by buying and selling keys, it creates a form of social economy where users can potentially profit from their social interactions and content.
Community and Network Growth
The platform encourages community building and network growth. As more users join and engage on the platform, the value and utility of the social tokens (keys) may increase, fostering a vibrant and economically incentivized social ecosystem.
How to Earn from Friend.Tech
Making money on Friend.Tech revolves around the concept of buying and selling "Keys" associated with users' profiles.
Here are some ways users can earn money on the platform.
Buying and Selling Keys
Users can earn by buying keys of accounts they find promising at an early stage and selling them when their value increases.
Monetizing Social Influence
Individuals with a substantial following on Friend.Tech can earn crypto through fees and revenue generated when others buy or sell their keys.
Automating with Bots
Users can employ bots to track and snipe (buy and sell) keys on their behalf, potentially earning money from the price differences in these transactions. This can happen 24x7 because it is automated.
Friend.Tech has mentioned airdropping points to active users every Friday, with a total of 100 million points distributed over a six-month beta period. These points are recorded off-chain and will have a special purpose once the beta period concludes, which may provide an opportunity for users to earn.
Getting Started with Friend.Tech
Creating your Friend.Tech account can feel tedious if you are new to crypto. But broken down into clear steps, its fairly straightforward. Moreover, with Transak, it becomes a breeze!
Here's a step-by-step guide to get you started.
Creating Your Account
Go to Friend.Tech and sign in using Google, Apple, or phone number.
Linking Your X Account
Once signed in, link your X (formerly Twitter) account to Friend.Tech.
This is mandatory.
Entering Your Invite Code
Friend.Tech operates on an invite-only basis, at least for now, ensuring a curated user base. Each invitation code is unique and can be used only once.
To join, enter your invite code. If you don't have one, here are some invite codes courtesy of Transak:
The exclusivity of invitation codes plays to the platform's selective community-building approach, though this may change in the future to accommodate a broader audience.
Depositing ETH (Base)
To fully engage with the Friend.Tech community, you'll need some ETH (Base) in your account.
Fortunately, Friend.Tech automates the process by creating an address for you. Deposit a minimum of 0.01 ETH (Base) on this address to activate your account.
Transak simplifies this step by providing a direct channel to buy ETH (Base).
- Navigate to global.transak.com
- Select your preferred fiat currency to purchase ETH
- Choose the token as ETH (Base)
Transak's Lite KYC feature accelerates the process, enabling you to buy ETH (Base) for Friend.Tech within just 2 minutes.
During the checkout, input the Friend.Tech-generated wallet address as your wallet address, complete the transaction, and voila! You are now an active member of the Friend.Tech community.
How to Get More Invites to Join Friend.Tech
With all the hype around this new social media platform and every racing to get on the bandwagon, getting your hands on a Friend.Tech invite code can feel like holding a golden ticket.
If the invite codes provided above did not work, it means they’ve already been used and you missed the boat!
Don’t worry though.
There are several other ways to get your Friend.Tech invite code. Below are a few tips.
Know someone on Friend.Tech? Reach out and ask for an invite.
Every new user receives five invites upon registration, and chances are, they might have a spare one for you. It's a community built on connections, after all!
Keep an eye out for invite giveaways hosted by brands — just like this one!
Social Media Scour
Dive into platforms like Twitter and Reddit to scout for invite codes. Users often share spare codes on these platforms.
Filter your search by ‘most recent’ to get codes that are likely still available (not expired) as each code only works once.
Join Related Communities
Engage in communities centered around decentralized platforms, blockchain, or Friend.Tech itself.
Active participation or simply being a member could land you an invite from like-minded individuals.
Attend Crypto Events
With Friend.Tech riding the decentralized social media wave, attending blockchain or crypto-related events might put you in the same room (virtually or physically) with existing users. Networking at these events could yield an invite.
Regularly monitor hashtags like #FriendTechInvites on social media platforms. Users might use such hashtags to share their spare invite codes.
Check Out Tech Blogs and Newsletters
Subscribe to tech blogs or newsletters that cover decentralized social media platforms. They might have collaborations with Friend.Tech and offer invites to their readers.
Join Transak on Friend.Tech
If you haven't already joined us, we're at https://friend.tech/Transak
The surge of decentralized social media represents a transformative phase in mass social interactions.
These platforms go beyond just providing a way for users to connect. The incorporate the element of ownership. This fosters a more user-centric social ecosystem that prizes privacy, control, and financial incentive over mere engagement.
Friend.Tech exemplifies a novel approach towards social interactions by tokenizing social credibility. This not only gamifies social engagement but also introduces a marketplace dynamic where interactions bear financial value.
However, Friend.Tech is very out-of-the-box and is something most people are not used to. This can indirectly translate to "short-lived hype." It will be interesting to see if this platform stands the test of time.
Meanwhile, you can jump on the trend within minutes using Transak.
prudence and attention to detail of each user.
About the Author:
In this article:
- What is Friend.Tech?
- How Friend.Tech Works
- Tokenization of Social Interactions
- Setup and Access
- Financial Aspects
- Community and Network Growth
- How to Earn from Friend.Tech
- Buying and Selling Keys
- Monetizing Social Influence
- Automating with Bots
- Getting Started with Friend.Tech
- Creating Your Account
- Linking Your X Account
- Entering Your Invite Code
- Depositing ETH (Base)
- How to Get More Invites to Join Friend.Tech
- Direct Approach
- Brand Giveaways
- Social Media Scour
- Join Related Communities
- Attend Crypto Events
- Monitor Hashtags
- Check Out Tech Blogs and Newsletters
- Join Transak on Friend.Tech