BroLex

Don't forget which project started it all 🚫🥶 $NOCHILL is a Bitcoin of arena ⚔️

Good uprising days Gladiators ⚔️ I read an interesting article on a German-speaking media platform in the crypto space (BTC-ECHO) about the failure of Friend.tech There are some parallels to Arena, but in my opinion, we are doing many things differently and correctly ⚔️ I would be curious to hear your thoughts on it, especially from the Friend.tech users who recently joined ❤️ I'll try to summarize and translate it briefly: 👉 The project launched in August 2023. The goal was to combine social interactions with financial aspects and incentives. The concept was simple: by purchasing keys of other users on the platform, you gained access to exclusive chats and content. As a profile gained popularity, the value of its keys would also rise. This allowed people to invest in their favorite Twitter personalities from the crypto space and participate in their success. 👉 In the first 24 hours, trading fees generated millions. Influencers, like Ansem, made significant profits. Some of them encouraged members to distribute the promised airdrop among their followers. 👉 Soon, the social aspect faded into the background – what took over was the allure of quick money. Bots began purchasing new keys as soon as they were created, and the platform turned into a trading platform. 👉 Copycats quickly followed, including on Solana, Avalanche, and Arbitrum, capturing some of the interest and liquidity. The project lost the attention of the mainstream audience – and with it, its users. As trading volumes on the platform plummeted, key prices dropped sharply. Another reason for the waning interest was the platform's limited features. 👉 The long-awaited airdrop in May 2024 briefly sparked some hope. However, most participants quickly sold their airdrops, leading to losses of over 90% for investors. 👉 Friend.tech now joins the ranks of countless crypto projects: a lot of hype, high returns for founders and crypto influencers, losses for the broader audience, and a blow to those who believe in the use case of Web3 Thx for reading ❤️❤️❤️