Evening Must-read | Can Web3 Social Networking Generate a New Killer Application?

Can Web3 Social Networking Create a New Killer App?

1. Golden Observation | Friend.tech Continues to Heat Up, Market Hype Cannot Hide the Doubts

On August 10th, Friend.tech invited the launch of the beta version, and the first day’s trading volume exceeded 4400 ETH (approximately $8.1 million), becoming another hit project after BALD on the Base Chain. Due to the recent dishonesty and escape by the BALD project team, many community members naturally developed immunity towards Friend.tech. Doubts and criticisms have been continuously voiced since the first day of the project’s birth, labeling it as the next Ponzi scheme. However, judging from the recent performance of Friend.tech, this SocialFi DApp seems to be gaining popularity and showing potential. Click to read more

2. Bankless: Is friend.tech the latest Ponzi or the future mainstream?

The Friend.tech craze has swept Crypto Twitter with no signs of slowing down. In the past 10 days, Friend.tech has gained 80,000 new users, bringing the revolutionary app within reach of the crypto world. Even though this prosperity phenomenon is unsustainable and it may not become the mainstream app in the crypto industry, Friend.tech is still providing the necessary lessons and market signals to move towards the mainstream. Click to read more

3. Besides friend.tech, which other SocialFi projects are worth paying attention to?

Friend.tech has brought the narrative to SocialFi, diverting people’s attention to tokens that are expected to benefit from this narrative. Click to read more

4. Looking Back at the Decentralized Storage Track Neglected by the Market from EthStorage

One of the most popular tracks this year should be the Layer 2 track that enhances blockchain scalability. Once successfully implemented, faster speed and lower fees will promote the gradual prosperity of Web3 applications. The generation of a large amount of data in the future will create a demand for storage. This article will focus on EthStorage, the first-place winner in the EDCON Super Demo this year, and review the decentralized storage track that has recently received low market attention but has enormous potential. Click to read more

• Which public security authorities in China have jurisdiction over virtual currency exchange cases?
• Opinion friend.tech may have initiated a return to the essence of SocialFi.
• 10 Reasons Why Cryptocurrencies Can Rise 10 Times in the Next Few Years

5. Can Web3 Social Create a New Killer Application?

In 2017, a group of researchers from MIT Media Lab claimed in Wired magazine that a decentralized social network was “impossible to achieve.” In their article, they listed three challenges they believed were impossible to overcome in reality. Click to read more

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