collaborates and launches Friendchain in partnership with Conduit.

On June 8, announced plans for Friendchain, a proprietary blockchain utilizing the FRIEND token as a fully transferable gas token. The platform did not specify a launch timeline for the project. Meanwhile, the decision isn’t surprising, given recent statements from the project’s co-founder, Racer. He even offered a $200,000 reward for any developer who could successfully migrate the platform from Base without major disruptions.

However, the recent announcement has elicited mixed reactions within the community. Some analysts view it as a natural progression, suggesting that successful decentralized applications will eventually become independent chains. Others caution that this move might hinder growth. A prominent FriendTech advocate known as The Giver on social media platform X described the decision as “short-term bullish and mid-term bearish” for the crypto venture.

According to the analyst, FriendTech should focus on maximizing user acquisition to build a solid user base, ideally by leveraging connections through the Base and Solana blockchains. The platform’s model allows users to purchase keys linked to their social media accounts, facilitating direct interactions with influencers. Key purchases not only grant chat access but also provide financial benefits. Users receive a share of the transaction fees and reward points that can lead to token airdrops.

Currently, FRIEND is trading at around $0.8439, up 15% in the past 24 hours, according to data from CoinMarketCap.

Leave a Reply

Your email address will not be published. Required fields are marked *