Friend Tech, a Web3 social platform, has recently announced a significant shift in its operational model, marking a bold experiment in the cryptocurrency space. During a board meeting, investors agreed to relinquish their rights to sell tokens, allowing the platform to create what is being described as the first truly user-controlled currency. This move has sparked a mixture of skepticism and excitement within the crypto community, with some users still uncertain about the future value of Friend Tech points, though there is a plan to share 25% of the value with early supporters. Despite this, the initiative has received support from notable figures in the industry, emphasizing the need for more innovative experiments in the crypto world. The decision not to have the tokens backed by Paradigm further underscores the platform's commitment to decentralization. This development follows Friend Tech's completion of a seed round in August of the previous year and hints at a potential revival for the platform, with plans for a Token Generation Event (TGE) being hinted at by users. Additionally, there's a mention of people who sold Friend Tech points at $1 OTC potentially facing regret.
With the revival of @friendtech, it appears that points and/or $FT will be worth something again. I have finalized my plans for when the inevitable TGE happens. Since it appears a ton of people left the app, I'll make it simple: Keyholder snapshot will be done at an announced…
Do you remember friend tech? There will be “the first truly user controlled currency” The expectation from the friend tech team: “craziest experiments that crypto has ever seen” Data: @DappRadar https://t.co/f6MmT8Q3hp
People who sold @friendtech points at $1 OTC about to live a very painful month of March...
Web3 social platform friend tech tweeted that after discussions at the meeting, its investors have agreed to give up the right to sell tokens to users, and the tokens will be controlled by users. Previously, in August last year, friend tech announced the completion of a seed…
Wait what are friendtech points actually going for right now?
Very excited for my points from Friend Tech the true fully decentralized social media platform not backed by Paradigm. https://t.co/vxYeaLSHoz
delighted to support @friendtech’s truly fair launch crypto needs fewer re-runs and more experiments https://t.co/LejS8ADWW1
Still not sure how much @friendtech points gonna be worth but if we can print decently and share 25% of that with people who trusted us at the very beginning, would be dope.
photo from the friendtech board meeting where investors agreed to give up their right to dump on you to let us create the first truly user controlled currency in one of the craziest experiments that crypto has ever seen https://t.co/khuXOEotv2