SocialFi App Friendtech to Develop Own Blockchain
Friendtech is leaving Base in favor of its own native blockchain, built with the assistance of Conduit.
By: Squiffs • Loading...
NFTs & Web3![chatroom icons connected by digital lines, with cartoon-like blue bunnies](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F344049d4561aafcebbb96916bdebfadb35ce64fb-1792x1024.webp&w=828&q=75)
SocialFi app Friendtech has unveiled plans to build its own native blockchain, dubbed Friendchain, which will be developed with the help of Conduit, a platform for quickly deploying rollups on Ethereum-compatible networks.
The move comes as daily active users (DAU) and the price of the FRIEND token are both near all-time lows.
![FRIEND Price Since Launch chart](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fd08410012ddd7dbdd55f25a7ec51a4fb4fbdec4b-828x454.jpg&w=828&q=100)
Conduit enables users to “deploy a rollup in minutes, not months.” The no-code platform birthed other popular rollup chains such as Zora, Aevo, and Orderly.
Following its launch in August last year, Friendtech took the crypto space by storm, and amassed $50 million in fees in under 3 months. However, usage, fees, and sentiment surrounding the social-fi dApp have fallen drastically since their October 2023 highs.
![Friendtech Daily Active Users](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2Fec7b18f5f5c1667227bf6e211ea3aa4122958587-774x433.jpg&w=828&q=100)
FRIEND is up 18% in the past 24 hours, trading at a $85 million market capitalization.
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