- Friend.tech is plotting a comeback with a token airdrop.
- Friend.tech users are asking more for their points amid the hype.
- Developers have suggested that the airdrop would be a fair launch.
Base social media protocol Friend.tech emerged as one of the breakout crypto sensations of 2023. But the protocol’s time in the spotlight was short-lived as privacy, security, and user experience concerns sent user interest spiraling down.
Amid the drop in interest and activity, developers have teased an airdrop campaign to bring the project back into the spotlight. As the hype grows, however, existing users are looking to cash in on accumulated points.
Friend.tech Points in Focus
Over the past week, more ads requesting over $2 for Friend.tech points have popped up on multi-asset trading platform Whales Market. For context, at the time of writing, the average selling price of Friend.tech points is $1.65. The asking price bump suggests that users want to cash in as Friend.tech developers attempt to stir up interest with a spring airdrop.
Friend.tech has airdropped points to users on Fridays since August 18, 2023. At the time, developers claimed that the drop, which would run for six months, would serve a “special purpose” later.
Sponsored
In crypto, points typically refer to off-chain tokens given to project users as a reward for participating in certain activities. They are typically associated with token rewards, much like the airdrop teased by Friend.tech.
Sponsored
Friend.tech developers recently stoked further excitement about its token airdrop with an announcement promising users greater control over the project.
A Fair Launch?
On Sunday, March 3, Friend.tech announced that its investors, most notably Paradigm, had given up their rights to sell the soon-to-be-released token.
“investors agreed to give up their right to dump on you to let us create the first truly user controlled currency in one of the craziest experiments that crypto has ever seen,” the team wrote.
Paradigm General Partner Charlie Noyes confirmed the development, writing:
“delighted to support @friendtech’s truly fair launch. crypto needs fewer re-runs and more experiments.”
Paradigm did not immediately respond to a DailyCoin request for comment on whether the arrangement with Friend.tech is an open market-only restriction or has a fixed time limit.
On the Flipside
- 21.co’s Friend.tech Dune Analytics dashboard suggests that interest in the project has yet to flip firmly positive as the project’s TVL has remained largely flat at around $30 million despite an increase in key mints.
- Wassieverse producer Giovanni Pickle recently disclosed struggles logging into his Friend.tech account. The complaint suggests that the project’s user experience challenges persist.
Why This Matters
The bump in Friend.tech point asking prices highlights the growing speculation surrounding the project as developers continue to drive airdrop excitement.
Read this for more on the Friend.tech airdrop:
Friend.tech Attempts to Revive Interest with Airdrop Teaser
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