Friend.Tech threatened with blocking for using competitors

The Friend.Tech Web3 social network team has warned of potential bans for using copies or copycats of the app.

“In order to ensure that loyal users are fairly rewarded during beta testing, participants moving to forks and copies will automatically forfeit point earning and forfeit existing points. They will still be able to use the application,” the project representatives wrote.

The publication caused a strong reaction from the community, so a few hours later the company deleted the post on X (formerly Twitter).

Later, the Friend.Tech co-founder under the pseudonym Racer issued an apology for the “stupid statement”. However, the tweet was later deleted.

The platform team did not mention any specific competitors. However, users noted a new, similar app, Shares, scheduled to launch on August 31st.

Friend.Tech is giving away “reward points” to beta testers every week, for a total of 100 million tokens over six months. The team has not yet announced the assignment of these points, only mentioningthat they “will have a special purpose when the app moves into official release status.”

Friend.Tech launched on August 10 on the Base 2 Ethereum network, backed by the Coinbase exchange. It is a decentralized social platform integrated with X that allows the tokenization of member profiles.

Recall that in less than three weeks after the launch, the trading activity indicators of the application began to decline sharply. The volume of commissions and the number of transactions decreased by almost 90%. The community stated the “death” of the project.

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