Such growth has come in a very short time, even for crypto’s fast-moving standards. Friend.tech’s invite-only beta launched on August 10 and racked up some 4,400 ETH (about $8.1 million) in trading volume on the first day. The app is built on Base, crypto exchange Coinbase’s new layer-2 network.

Shares of some crypto X personalities, such as Cobie and Hsaka, jumped to as much as three ether, or nearly $5,000 at current prices, in a few days.

Friend.tech is also taking the scam-riddled Base by storm. Last week, the network reached 136,000 daily active users – overtaking layer 2 networks Arbitrum and Optimism – much of which is attributed to the app’s users.

These group chats are quickly evolving into intimate community experiences for share buyers. Trading personality @RookieXBT is dangling revenue shares and X premium subscriptions to holders, while @DeFiMaestro is sharing token picks for a trading challenge.

Meanwhile, the hype could just be getting started.

A slew of personalities outside of crypto circles on X joined Friend.tech over the weekend – opening the floodgates to possible crypto adoption among the general populace, some opine.

Richard “FaZe Banks” Bengtson II, co-founder of the influential esports community FaZe Clan, joined the platform late Sunday and saw his share prices quickly become among the costliest. Elsewhere, NBA player Grayson Allen saw shares surge quickly in mere hours after joining.

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“I’ve always thought the idea of betting on the success of especially YouTubers/ streamers success would be cool,” FaZe Banks tweeted. “Outside of just time and resources. I’ve discovered so many talented people, a product like this is perfect for that.”

The post Friend.tech Becomes Massive Ether Money Machine as NBA Players, FaZe Clan Join In appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ August 21, 2023 8:22 am