Friend.tech: Crypto New Obsession How Will It End?

The crypto trend is something that is always in a constant motion, one day a trend is coming, you are still trying to wrap your head around that and understand what is going on, the next minute something is new coming up again. just few months ago we were still trying to wrap our heads around bitcoin ordinal NFTs and understand its importance in the crypto community, now we are seeing a new crypto buzz called friend.tech. First time I saw the word friend.tech I didn’t bother to look further because I was tired of trying to catch up with the crypto trend, but the buzz is so much, I had to do a little research to make sure I understand the platform and not be left behind. I clicked the link but unfortunately, it requested for an iOS update, said I use an iOS version that is not compatible with the site. But I read some blogs about it to understand it better and know why lots of people are talking about it and doing.

Its supposed to be a decentralised social media platform where you buy friend shares from people and people buy yours too, trading fees from people buying your shares is shared with you. Which is a very cool way of earning, you need base ETH for this, the more people buy your shares, the more the value of your shares increases. Trading fee volume has been increasing which is expected because in crypto trend, this is just how it works, people see something new, they get excited about it, they FOMO and then get burnt out. For now people are loving the idea, its something new, they haven’t seen anything like this before. You can create group chat for you and your friends who buy your shares and you can give them exclusive contents, you get friendtech point airdropped to you. So far so good, the people that are making a lot of money from this friend.tech thingy seems to be celebrities who have a lot of social media influence and have loyal fans or followers that patronise whatever they are selling.

One of the reasons I decided to not get involved with this is because, I know I will be stuck on the end of being the one buying other people’s shares, no one will buy my shares because I don’t have any social media that would make people want to buy my shares. I am having the FOMO feeling, I want to participate, but I can’t be everywhere. some people think its a Ponzi scheme, soon people will get tired of the hype and start selling their shares which will get the price come crashing down. Because its like the old Ponzi, people buy, create a hype, attracts people and all of a sudden the price comes crashing down and we dont hear about them again. Well, you never can know what will happen, its just to stay there and watch what is happening, if you want to play around d and get involved its all up to you.

Posted Using LeoFinance Alpha