Who are the top 25 revenue accounts on friend.tech?

Who are the top 25 revenue accounts on friend.tech?

Source: Coingecko

Compiled by: LianGuaiBitpushNews Mary Liu

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The daily trading volume on Ethereum L2 Base, incubated and launched by Coinbase, has exceeded that of Ethereum, according to the latest data from the digital asset analysis platform Artemis Terminal. Yesterday, the daily trading volume on Base reached 1.37 million transactions, slightly higher than Ethereum’s daily trading volume of just over 1 million transactions. This is largely driven by the hype surrounding friend.tech, a new decentralized social media platform built on Base, which is experiencing explosive growth in popularity.

Which top friend.tech accounts are there?

Cobie is the highest-ranking friend.tech account, with royalties totaling $144,400 (81.94 ETH).

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0xRacerAlt, the founder of friend.tech, is the second-largest account with royalties amounting to $101,700 (58.04 ETH).

HsakaTrades ranks third with royalties of $100,600 (57.06 ETH).

Other friend.tech accounts on the list earned between $14,900 and $75,500 in the 12 days since the test version was released on August 11, 2023. The average daily income ranges from $12,000 to $63,000, resulting in an annual income of $453,200 to $2.3 million (if the daily income remains at the current level).

It is worth noting that Cobie, 0xRacerAlt, and HsakaTrades collectively contribute 34.6% of the total royalties earned by the top 25 friend.tech accounts.

In addition, Ethereum researcher Evan Van Ness and Flashbots product manager Robert Miller pointed out on Twitter that there are indications that most of the transactions on Base are from robots and spammers trying to gain an advantage on Friend.tech.

Profit Timeline

16 of the top 25 friend.tech accounts established their profiles within the first three days after the launch, resulting in account ages of 9-11 days.

These early adopters are already well-known crypto Twitter (CT) accounts, so they have successfully attracted attention from the CT community on friend.tech.

Meanwhile, the remaining 9 accounts among the top 25 entered the field more than a week after the launch of friend.tech. The ages of these accounts range from 0 to 4 days.

Among these 9 accounts, 6 were already influential CT accounts and eventually joined the platform. They quickly rose to the top of the rankings shortly after joining friend.tech.

The other three are well-known figures in the esports industry: Faze Banks, 100T Nadeshot, and Faze Rain. Although they are not KOLs in the crypto community, they earned $75,500 (44.91 ETH), $27,600 (16.38 ETH), and $19,800 (11.81 ETH) respectively within just one day of joining the platform.

What is the mainstream adoption of friend.tech?

Among the top 25 friend.tech accounts, 21 of them are existing popular Crypto Twitter (CT) accounts. However, non-CT accounts have rapidly emerged, with Faze Banks, 100T Nadeshot, and Faze Rain accounts quickly entering the top 25 in a single day. Whether non-CT accounts will continue to gain attention on this platform remains to be seen.

Another non-CT account among the top 25 is friendtechindex, which reportedly purchased the Keys (formerly known as Shares) of the top 25 friend.tech accounts and published content to their holders.

What is friend.tech?

friend.tech launched its beta version on August 11th, allowing users to tokenize their Twitter accounts through stock trading, thereby facilitating private messaging between shareholders and social network owners. The platform charges a 5% transaction fee, part of which is shared with account holders.

This article explores the profitability of some of these accounts 12 days after the launch.

Research Method

This study investigated the top-earning friend.tech accounts in terms of royalties earned from August 10th, 2023 to August 22nd, 2023 (as of 7:45 PM Beijing Time). The analysis only considers licensing fee revenue and does not include any other external sources of income, such as selling Keys. The licensing fees are based on CoinGecko price data at the time of sale and converted from ETH to USD. Data is sourced from Dune Analytics (@cryptokoryo).

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