Less than 2 weeks after going live, decentralized social platform Friend.tech has reportedly paid out about $2.5 million to its users.
Of that amount, 391 ETH, or about $650,000, went to the top ten crypto influencers per data presented by crypto research platform Delphi Digital.
- Cobie, a popular crypto account on X with more than 737,000 followers, led the earnings list, having raked in 80 ETH, or about $132,000, from selling tokenized shares of his Friend.tech profile.
- Another well-known influencer, HsakaTrades, reportedly earned 56 ETH, which translates to just north of $93,000.
- Other winners include Racer, the alleged brains behind Friend.tech, who has so far pocketed 55 ETH; esports influencer FaZe Banks, with 41 ETH; and Zhusu, with 33 ETH.
- Trading influencer RookieXBT and 100 Thieves founder Nadeshot were also on the top ten list, with earnings of 23 and 16 ETH, respectively.
- To set prices, Friend.tech uses bonding curve method. It means that selling can occur even when no customers are available. The system’s main advantage is that it allows anyone to profit from their brand and reputation.
- Each transaction on the site costs 10% in fees, of which 5% goes to Friend.tech and 5% goes to the account holder.