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How Base’s Friend Tech Became An Overnight Sensation

Rene Peters

August 17, 2023

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In a recent report by Messari, a leading crypto market intelligence platform, significant insights were unveiled about the burgeoning success of the platform “Base” and its innovative application “Friend Tech”.

The findings highlight the rapid adoption and potential of such platforms in the ever-evolving crypto and NFT landscape. Here’s an expanded breakdown based on Messari’s analysis:

• Rapid Launch and Impressive User Base: Shortly after Friend Tech introduced its beta version on Base, it witnessed a surge in its user base. Remarkably, within just a week, its user count surpassed the combined users of all of Ethereum’s premier NFT platforms.
• Innovative Application Drawing Attention: One of Base’s standout applications is its feature that allows users to trade tokenized shares of notable crypto personalities. This unique offering has garnered significant attention and traction among users.
• Exclusive Benefits for Shareholders: The platform offers an exclusive perk for share owners. By owning these tokenized shares, users are granted a privilege to engage in direct, private conversations with the crypto figure associated with the share. Currently, the share of @cobie is in the spotlight, being the priciest at 1.22 ETH.
• Impressive Transaction Metrics: As per Messari’s data, Friend Tech has efficiently managed a whopping 300,000 transactions, catering to a diverse user base comprising 23,000 distinct individuals.
• A Lucrative Revenue Model: Friend Tech has devised an enticing revenue model where users are entitled to a 5% cut from their share’s trading volume. Given the staggering total trading volume of $13.25M, this model has culminated in user earnings amounting to $650,000 in a mere week.
• Observations on Adoption Rate: While the initial fervor and adoption pace have seen a slight dip, Messari’s report emphasizes the undeniable success of the platform. It particularly highlights @BuildOnBase’s adeptness in providing app developers with a gateway to a vast, active, and responsive user community.

This success story underscores the potential of innovative platforms like Base and the opportunities they present for developers and users alike in the rapidly evolving crypto and NFT space.

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