Question for everyone, and sorry this may seem trite at this point. Why do you think friend tech is popping off while almost all other consumer crypto apps are pretty flat? Looking for honest opinions, even if people have already said it, or even if it’s contrarian.
it makes people money by default
shortest distance to speculation in current market conditions + most notable ct degens narrating + airdrop promise + the ability to scratch that existential-worth question subliminally (personally believe this last point is quite significant)
Arbitrary points = airdrop farmers = engagement ⬆️ Invite system = walled garden of content = exclusivity (though this was more in the beginning, now it’s really curiosity/fomo ⬆️) Simple buy/sell mechanic = easy botting = speculatooors ⬆️
It's a unique type of content & social relationship that you can't get anywhere else. That's the core differentiated & sustainable product offering IMO. The wrapping of ability to make a little money, points, improved onboarding experience, all enhance that
come on john. quite simply, cuz CT can’t make money on FC or party. it’s a cesspool.
Tourists left, many that remain ♥️ gambling. Aggressive bonding curve makes action ramp up quickly Endorsed and shilled by influencer crowd that herds the 🐑. Fun 4 some to buy access to those ppl too Everyone makes money. Maybe not from trading but they expect airdrop — ppl are being paid to use it
FT democratizes one of the big innovations of this cycle - tokengated chats. PFP NFT collection, DAOs, and even individual artists all made gated Discords, and they’re still one of my favorite parts of Web3. FT makes deploying the token, pricing it, and hosting the chat super easy!
People tend to respond to incentives and the opportunity to make money is a pretty powerful one
Afaik there’s a FT airdrop coming, so people are most likely farming it at this point.
We covered this recently at TTS. Airdrop hunting and a pretty incestuous shill frenzy (influencer, influencer) In the long run, it will fizzle http://tinkeringsociety.xyz/post/onlyfrenz
Think many people talking about it constantly made the most impact. How to know otherwise that you are missing out
FT was the first thing to go big after I flipped from twitter to farcaster; it was interesting to me to see how much of the excitement was restricted to twitter
the innovation with crypto lies with the innovation of money friend tech did something innovative with money—is it the perfect PMF product? probably not but a step in the right direction
Accessible, easy to understand, integrates good gambling metrics sprinkled with hopes for a token airdrop.
Imo it is because it leverages a huge existing user base that contains basically all crypto people (Twitter) whilst also incentivising every single person with a loud voice in that user base (crypto influencers) to both use it and shout about it
Combination of the number go up and the fun of private chats with larger accounts Larger accounts love the ego trip of number go up It will all end in tears eventually Maybe something in the model that survives in some way though
It’s just another casino. The allure of 100xing your $ is too strong.
only friend tech as a yield farm is growing friend tech as a consumer app is not growing at all
Volume always goes to where the gambling is best
Novel combination of crypto’s killer UX - i.e. speculation - and tried and tested web2 acquisition + engagement loops Really don’t think it needs to be thought boi’d into more than that tbh
Nailed onboarding apathy via speculative onboarding and the dopamine rush of initial fee earnings from bots trading your keys. Within <1 min most earn more than twtr has ever paid them ($0) Come for the money, stay for the choose your own adventure game. many diff metas to play closely aligns creator effort w upside
I don’t get it, but it’s also so much my anti that I’ll never go look at it either
The entry behavior (memeing/gambling) is the biggest creator of tx flow today so they’re consistently exposed to new users At the same time, the experience I have with the app every day (not a gambler/speculator) feels singular; really intimate connections with creators
Under the appreciated aspect is that the bonding curve creates a pool you can always exit out of, even if it's at a loss. FT + Users making money on the fees and not the underlying assets/keys is elegant AF. FT's structure makes it impossible to be a bag holder. You can always exit with _something_.
- the speculative aspect of FT feels gameified rather than crassly “financial” like trading tokens or perps - very easy for users with large followings to extract value so there’s a simple built-in marketing flywheel - both creator and audience stand to profit from using FT all the above + fast/cheap L2 txns
A lot of people calling it gambling, I'd say it's an addictive social loop - If you have enough of a name, sign up, get notifs and money and *validation* immediately for being on this app - Trending app allows social discovery now And yes, clear about the money. But a lot of crypto consumer apps are not