Friend.tech has taken the crypto world by storm. With over 225k registered users, it is one of the most widely used Web3 applications of all time. They generate over $500k (> 300 ETH) in protocol revenue per day, which puts them as one of the most profitable DeFi protocols.
Friend.tech is a Web3 social media app built on Base, an Ethereum L2 incubated by Coinbase that launched in early August 2023. In its core, users pay to get access to private chats and content from creators, influencers, or friends, however, the pricing mechanism is what makes this app unique and will be explored later in this report.
But what makes friend.tech so successful and addictive, is it here to stay, and how can you make money off it? To...