Fetch.ai Surges Over 10,000 ETH, TVL Tops 30,000 ETH

Exploring Web3 and Friend.tech

The Coinbase layer-2 protocol Base-powered decentralized social media platform Friend.tech has seen impressive growth in terms of revenue and total value locked (TVL). According to Dune Analytics, Friend.tech’s revenue has reached 10,663 Ether (ETH) and its TVL is now over 30,000 ETH as of October 2nd. This surge in activity is in spite of waning interest in the platform since its launch in August 2023.

Friend.tech is a decentralized social network that allows users to purchase shares of friends and influencers. Users can also acquire “keys” associated with X accounts, which provide access to private in-app chatrooms and exclusive content. The concept of a decentralized social network with a revenue-sharing model has been met with both enthusiasm and criticism from the Web3 space.

The Friend.tech Platform

Since its launch a couple of months ago, the decentralized social media platform Friend.tech has been declared “dead” on numerous occasions. A crypto commentator expressed his doubts about its revenue model and predicted that the charm of the platform would fizzle out in six to eight weeks. Critics argued that the high share prices observed in the first couple of weeks were unsustainable.

Despite the criticism, Friend.tech has seen record-breaking surges in revenue and user growth. The communicative transactions on the platform have recently surged to 9,200,882, although they have dipped from the highs seen in the first week of September. The steady growth in revenue and TVL suggests that users are still engaging with the web 3.0 platform.

Those interested in investing in web 3.0 can do so by buying web 3.0 tokens, domains or other assets. Microsoft Web Platform Installer 3.0 is one of the tools that can be used to access and manage web 3.0. It is important to note that web 3.0 is different from web3, so it is important to understand the difference before investing.