What is Friend.tech, the viral crypto social media app?

Remember when we were inundated with crypto commercials starring Matt Damon, major sports league sponsorships, and drawings of apes? For those in the mainstream, cryptocurrency seems pretty much dead. However, the crypto community is still very much alive online. Investors, speculators, and scammers have been holding out during this long bear market, hoping that the next big crypto project will come along and turn their dimes back into dollars.Many think they’ve found that very project in Friend.tech, which has gone viral in the crypto community over the past few days. A leaked database shows that more than 101,000 users have signed up since the invite-only beta version of the app launched on Aug. 10. And, of course, because this is crypto, making money is the factor here — and Friend.tech is already pulling in millions. According to CoinDesk, over the past 24 hours alone, Friend.tech has seen more than $1.04 million in transaction fees, generating just over $709,000 in revenue. Since it launched less than two weeks ago, Friend.tech has made around $25 million.So, what is Friend.tech?Simply put, Friend.tech is a mobile-based social media platform with a cryptocurrency twist. The app markets itself as “the marketplace for your friends” on its website. Much like other, non-crypto social media platforms that are in beta — like BlueSky — Friend.tech requires users to have an invite code from other users in order to sign up.Friend.tech basically provides each user with their own Telegram-like chat group. In order for others to enter a user’s…What is Friend.tech, the viral crypto social media app?