Social media platform Friend Tech, despite being surrounded by controversy, has set a benchmark for “SocialFi” (social finance) in the past year and has influenced the development of many innovative applications. Many communities have indeed established meaningful social circles on this platform, and people are also hoping that these solid foundations can bring a bright future for Friend Tech’s cryptocurrency.
Table of Contents
Toggle
FriendTech’s cryptocurrency issuance, but the community cannot claim the full amount
Twitter influencer Ignas: Friend Tech V2 is a huge failure
On 5/3, Friend Tech (referred to as FT) started the token FRIEND claim, and many users on Twitter have reacted with “unable to claim the full amount.” The claim page also experienced a temporary malfunction, causing many people to be unable to obtain the tokens.
As a result, FRIEND dropped from the initial integer price to the 0.8 level, undergoing multiple price cuts. As of the deadline, it was at $1.24. The communities that were expecting the airdrop and engaging in mutual trading also expressed their disappointment. What’s even worse is that they believe the deep friendships built here have been tarnished.
Advertisements – Continue scrolling for the rest of the content
[Image]
[Image]
[Image]
[Image]
[Image]
[Image]
Twitter influencer Ignas commented that Friend Tech V2 is ultimately a huge disappointment. Friend Tech clearly had everything to reach a market value of $1 billion, and more importantly, to expand their audience beyond the cryptocurrency community.
Ignas believes that Friend Tech’s development capabilities were exaggerated. After 8 months of development, Friend Tech only needed to ensure that the program could function, but the v2 application was completely unusable.
They did not focus on building a reliable product but instead posted junk on X.
Although it would have been forgivable if they had actually completed the product.
Is this their strategy all along? Selling FRIEND to prepare for a real upgrade and restore the price? Ignas said that at this point, this strategy does not surprise him. But Friend Tech has let the opportunity slip away.
He mentioned that he had a very active community of friends on Friend Tech, but if all of this is wasted, it would be a shame.
FRIEND
FriendTech
[Image]
[Image]
Further reading
PwC Report: Three New Trends in Cryptocurrency Taxation for 2024, Taiwan lacks cryptocurrency tax guidelines
Cardano Founder Charles Hoskinson proposes integrating Bitcoin Cash, criticized for self-destruction?