Decentralized Social(DESO)

[PRESS RELEASE – Los Angeles, California, February 7th, 2024] Key Takeaways Focus, the revolutionary new decentralized SocialFi app, raised $75 million in one week Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar industry Users can reserve with DESO, BTC, ETH, and more to earn a 90% bonus in $FOCUS tokens for a limited […]

Coinbase-Backed DeSo SocialFi App Focus Raises $75 Million in One Week

The decentralized social network Farcaster is enjoying a breakout after last week's introduction of "Frames" – a new feature that could attract attention from developers and, eventually, mainstream users. CoinDesk's Jenn Sanasie sat down with co-founder Dan Romero in an exclusive interview.

Farcaster is a decentralized social media protocol. Here's everything you need to know about it and how to use it.

[PRESS RELEASE – Los Angeles, California, January 17th, 2024] Key Takeaways Focus, the revolutionary new decentralized SocialFi app, raised $20 million in less than 24 hours Focus rivals subscription platforms like OnlyFans and Patreon, a multi-billion-dollar industry The Social Airdrop offers users the chance to earn upwards of $100,000 in $FOCUS tokens Focus is a […]

DeSo-Backed SocialFi App Focus raises $20 Million in under 24 hours

Farcaster, Friend.tech and Lens showed how much can change in a year — but is Web3 networking ready for primetime?

The open source protocol spearheaded by DeFi giant Stani Kulechov has released a bevy of new monetization features.

KeySea, the newest approach to the decentralized social media industry, is taking the world by storm. Released in 2023, the platform intends to revolutionize how consumers relate with influencers and how these influencers are compensated for their content. KeySea seeks to make it possible for anyone to monetize their social media engagement through SocialFi, a […]

The decentralized social media platform has continued to thrive since it launched in the second week of August and has hit multiple new highs despite critics predicting its downfall.

SocialFi platform Friend.tech went viral across Twitter after rolling out its beta on August 11th but since then, has been declared ‘dead’ by some media outlets after its volume and inflows declined. Cointelegraph, CryptoNews, and even sites outside of the cryptocurrency space, such as TechCrunch, have run headlines on how the ‘hyped decentralized social app’ […]

Seoul, South Korea, August 30th, 2023, Chainwire It brings together the most sought-after builders, enterprises, thought leaders, and innovators to spark crucial conversations that shape the future of the industry FactBlock, a Web3 ecosystem accelerator and the organizer of KBW2023 along with the co-host Hashed, a prominent Web3 venture fund based in South Korea, are delighted to announce that delegates attending the 6th Edition of the Korea Blockchain Week will get to witness the most influential people in the industry sharing their learnings and insights on every aspect of crypto, Web3 infrastructure and beyond. It’s where the change makers shape the narratives and set the agenda for the future. This year’s impressive speaker lineup features more than 200 thought leaders and builders including Ethereum Co-founder Vitalik Buterin, Circle CEO Jeremy Allaire, Wemade CEO Henry Chang, Maelstrom CIO Arthur Hayes, Hashed CEO Simon Kim, BitGo Co-founder and CEO Mike Belshe, Polygon Co-founder Sandeep Nailwal, Line Next’s Business Director Woosuk Kim, and SkyBridge Capital’s Founder and Managing Partner Anthony Scaramucci. Seonik Jeon, CEO of FactBlock, said, “Established in 2018 to rectify information imbalances in blockchain and cryptocurrency, KBW now enters its sixth year. Evolving annually, we provide global crypto communities with insightful knowledge, networking, and entertainment. This year, in addition to featuring renowned speakers and diverse sessions to share insights at the Impact conference, we are launching a Web 3-based art and music festival. We anticipate all KBW 2023 participants will relish an immersive week-long engagement with shared knowledge, art, music, and culture in Korea.” Attendees will also have more opportunities than ever before for networking, collaboration, and discussion. As Asia’s most impactful blockchain event, the week-long conference will be a platform where blockchain builders from all over the world discover the future of Web3, and explore its impact on various industries and cultures. The conference will take place from September 4 to September 10, with the main event, KBW: Impact, running from September 5 to 6 at The Shilla Seoul. Simon Kim, CEO of Hashed, stated “KBW is establishing itself as a B2B platform that goes beyond mere conferences and events, generating practical multinational business collaboration opportunities. In this event, we can anticipate not only the participation of exceptional speakers as mentioned above but also the excitement of more than 150 diverse side events scheduled to take place.” With the rising technology, institutional fever, and mass adoption in focus, the organizers aim to make KBW2023 an idea lab rather than an echo chamber. It’s where builders, investors, legacy finance executives, policymakers, and crypto-curious newcomers flock to exchange ideas, collaborate, and find solutions to some of the thorniest challenges facing the industry. The biggest highlight of the upcoming conference will be KBW: IMPACT, the main 2-day event that brings together thought leaders and crypto-curious from around the world to spark discussions along the following core themes: Fundamentals– Dedicated to answering the fundamental questions of blockchain and crypto. Kingdom of Ethereum – Shining light on the future of Ethereum infrastructure and community. Oil the Wheels – Addressing subjects that make blockchain ecosystem and developers’ growth. Way to Billions – Analyzing the key challenges and contributors to mass adoption. What's on Chain – Showcasing and harnessing the power of on-chain data for research, analysis, DeFi, risk management, and more. Regional Taste – A look at how the unique strengths of markets like Korea, Japan, India and Southeast Asia are helping them embrace blockchain technology. Tech Unleashed – A deep dive into emerging trends and technologies such as zero knowledge, shared sequencing, orderbook DEXes, privacy, interoperability, and more. Digital Nation – Dedicated to exploring how blockchain technology will shape the social structures with DAOs, decentralized social graphs, and metaverse. Institutional Fever – Dedicated to the B2B side of blockchain, it would serve as a bridge between Web2 enterprises, financial conglomerates, and Web3 projects. Code in Law – To help the industry players understand the regulatory landscape. The week-long industry gathering will spotlight three main events, an official afterparty, and almost two hundred side events. Highlights include the two-day keystone conference "Impact" on September 5th and 6th; the two-day immersive digital art experience "The Gateway: Korea” with nft now on September 7th and 8th; and the two-day music festival "Micro Seoul: Seoulbound" as the official closing ceremony of KBW. Rounding off the week, "Beyond Seoul" will take center stage as the official KBW afterparty from September 7th to 10th, celebrating the intersection of technology, culture, and self-expression. With over a hundred registered side events, attendees can expect a week brimming with engagement and insight. About Korea Blockchain Week Korea Blockchain Week is the premier blockchain and cryptocurrency event in Asia, bringing together industry leaders, investors, and enthusiasts worldwide to discuss and explore the latest developments and trends. Organized by Factblock and co-hosted by Hashed, the conference features a series of speeches and panel discussions by the leading minds of the blockchain space, as well as a rich selection of side events and networking opportunities to foster collaboration within the Korean and global blockchain community. Buy Tickets Attend as Media Discover Sponsors Check out FAQ Contact Itai [email protected]

OnlyFans’ parent company Fenix International revealed that between 2021 and 2022, they had purchased almost $20 million to Ether (ETH) In a financial filing for the UK registry last August 24, Fenix International became the latest firm to reveal its crypto investments with $19.9 million invested to Ether from 2021 and 2022. This was in an effort to diversify and explore the possibilities of cryptocurrency. But due to the bearish market that has afflicted the crypto market last year, this initial $19.9 million would be, at the time of writing, worth only around $11.4 million. Despite this, however, OnlyFans has experienced a 16.6% growth last year owing to a 47% increase in number of creators and 27% increase in subscribers. This move to reveal their crypto holdings might mean that the company is looking to re-explore the crypto space. The company’s foray into crypto was not limited to its investments. Last February 2022, the platform allowed its verified content creators to change their profile photos to verified Ethereum NFTs. This platform was built on Polygon, an Ethereum scaling solution. CEO Amrapali Gan said it was the “first step in exploring the role that NFTs can play on [their] platform.” Now, its parent company has decided to reveal its cryptocurrency holdings in a bid to ride the hype surrounding decentralized social media Friend.Tech. Among other social-based crypto platforms, notably, Friend.Tech is now facing decline after it has exploded post its August 11 launch on Coinbase’s Base network. However, it currently seems to be imploding as it saw its daily fees rapidly plummet by almost 90%. Coinbase payments risk manager Lisandro Rodriguez had suggested that “greed and poor execution” are to blamed. Like Friend.tech, OnlyFans also relies on the whole "influencer marketing" culture and hyped-up campaigns to spread and leverage its presence across the web. Still, there are other decentralized social media apps out there that OnlyFans can explore and maybe partner with. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

OnlyFans’ parent company Fenix International revealed that between 2021 and 2022, they had purchased almost $20 million to Ether (ETH) In a financial filing for the UK registry last August 24, Fenix International became the latest firm to reveal its crypto investments with $19.9 million invested to Ether from 2021 and 2022. This was in an effort to diversify and explore the possibilities of cryptocurrency. But due to the bearish market that has afflicted the crypto market last year, this initial $19.9 million would be, at the time of writing, worth only around $11.4 million. Despite this, however, OnlyFans has experienced a 16.6% growth last year owing to a 47% increase in number of creators and 27% increase in subscribers. This move to reveal their crypto holdings might mean that the company is looking to re-explore the crypto space. The company’s foray into crypto was not limited to its investments. Last February 2022, the platform allowed its verified content creators to change their profile photos to verified Ethereum NFTs. This platform was built on Polygon, an Ethereum scaling solution. CEO Amrapali Gan said it was the “first step in exploring the role that NFTs can play on [their] platform.” Now, its parent company has decided to reveal its cryptocurrency holdings in a bid to ride the hype surrounding decentralized social media Friend.Tech. Among other social-based crypto platforms, notably, Friend.Tech is now facing decline after it has exploded post its August 11 launch on Coinbase’s Base network. However, it currently seems to be imploding as it saw its daily fees rapidly plummet by almost 90%. Coinbase payments risk manager Lisandro Rodriguez had suggested that “greed and poor execution” are to blamed. Like Friend.tech, OnlyFans also relies on the whole "influencer marketing" culture and hyped-up campaigns to spread and leverage its presence across the web. Still, there are other decentralized social media apps out there that OnlyFans can explore and maybe partner with. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A mere three weeks post-launch, decentralized social platform Friend.tech is facing intense scrutiny as key performance metrics have dwindled, leading many to pronounce it as a "dead" platform. Having launched its beta version on Coinbase’s layer-2 Base on Aug. 11, Friend.tech initially generated significant buzz, especially after its fees eclipsed both Uniswap and the Bitcoin network, reaching over $1 million within a day on Aug. 19. Despite this, the initial momentum seems to have been short-lived, while also trouncing speculations that info from its users was leaked. Comparisons have also been made between Friend.tech and the 2021 DeSo app BitCloud. Web3 marketer Legendary predicts a similar fate for Friend.tech, anticipating that it "will collapse as BitClout did." Aggregated blockchain data reveals a significant drop in daily fees, which hit a high of $1.7 million on Aug. 21 and subsequently plunged by over 87%, settling around $215,000 by Aug. 26. Concurrently, transaction activity on the platform saw an over 90% decrease, falling from a high of nearly 525,000 on Aug. 21 to just over 51,000 on Aug. 27, as indicated by data from Dune Analytics compiled by Crypto Koryo. Social media, particularly X (formerly Twitter), is awash with commentary on the network's drastic decline. One such tweet by @beaniemaxi reads, "RIP Friendtech. August 2023-August 2023." RIP FriendtechAugust 2023-August 2023

A mere three weeks post-launch, decentralized social platform Friend.tech is facing intense scrutiny as key performance metrics have dwindled, leading many to pronounce it as a "dead" platform. Having launched its beta version on Coinbase’s layer-2 Base on Aug. 11, Friend.tech initially generated significant buzz, especially after its fees eclipsed both Uniswap and the Bitcoin network, reaching over $1 million within a day on Aug. 19. Despite this, the initial momentum seems to have been short-lived, while also trouncing speculations that info from its users was leaked. Comparisons have also been made between Friend.tech and the 2021 DeSo app BitCloud. Web3 marketer Legendary predicts a similar fate for Friend.tech, anticipating that it "will collapse as BitClout did." Aggregated blockchain data reveals a significant drop in daily fees, which hit a high of $1.7 million on Aug. 21 and subsequently plunged by over 87%, settling around $215,000 by Aug. 26. Concurrently, transaction activity on the platform saw an over 90% decrease, falling from a high of nearly 525,000 on Aug. 21 to just over 51,000 on Aug. 27, as indicated by data from Dune Analytics compiled by Crypto Koryo. Social media, particularly X (formerly Twitter), is awash with commentary on the network's drastic decline. One such tweet by @beaniemaxi reads, "RIP Friendtech. August 2023-August 2023." RIP FriendtechAugust 2023-August 2023

Decentralized social network Friend.tech may be booming right now, but execs say decentralized social media apps still have an onboarding and retention issue to fix.

Friend.Tech’s 24-hour fee jump places the social app in the top three projects for fee generation, only behind Ethereum and Lido, according to data from DeFiLlama. Let’s find out more. Ethereum According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF). Cryptocurrency exchange Bitstamp announced it would end Ethereum (ETH) staking services to its US customers as of September 25 due to the rigid US regulatory environment. According to a post by Farcaster co-founder Dan Romero on August 23, the decentralized social media protocol is migrating to OP Mainnet. DeFi Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. The dYdX foundation has published a list of guidelines and requirements that validators and stakers must comply with to ensure maximum user protection. Altcoins The PEPE token registered a sharp decline in price after millions of meme tokens flooded prominent crypto exchanges such as Binance, Bybit, and OKX. A phishing site has seized control of the Terra website, leading the site developers to sound the alarm and eventually freeze the Terra.money website. The social app Friend.tech has registered a big increase in protocol fees, generating fees in excess of $1.4 million in a 24-hour period. The team has vehemently denied a report claiming the personal data of over 100,000 users had been leaked. Technology Yuga Labs, the creators of the hugely popular NFT collection Bored Ape Yacht Club (BAYC), announced they will remove support for OpenSea’s Seaport Protocol from February 2024. Business Leading e-commerce platform Shopify will now allow users to make USDC payments thanks to its recent integration of the Solana Pay app. Considering the complexity of the ever-evolving crypto market, the trading platform Bitget has introduced the Bitget Protection Fund. Dropbox has moved its unlimited storage plan to a metered one in order to stop crypto miners’ “uneven usage.” Binance, the renowned global crypto exchange, has expanded its footprint by introducing its payment solution, Binance Pay, to the Brazilian market. Binance is pulling its horns in Latin America and the Middle East by withdrawing its crypto payment credit card. Coinbase and Circle, the two entities behind USD Coin (USDC), have announced new terms that would change the governance and funding of the USDC stablecoin. Regulation The SEC has charged a former corrections officer from New Jersey for his role in a bizarre cryptocurrency scam. The FBI has spotlighted six Bitcoin wallets believed to have connections with North Korea for their alleged ties to activities that breach US sanctions. Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to seven new charges brought against him in a Manhattan federal court on Tuesday. US District Judge Robert Pitman has dismissed an appeal filed by six Tornado Cash users who sought to lift sanctions placed on the controversial cryptocurrency mixer. Security Magnate Finance, a lending and borrowing protocol that operates on the Ethereum Layer-2 network Base, has apparently orchestrated a rug pull, stealing millions of dollars from users of the protocol. Liquidity protocol Balancer has disclosed that it has discovered a critical vulnerability that has impacted over 100 of its v2 pools spread across eight different blockchains. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The decentralized social media protocol is migrating to OP Mainnet according to a post by Farcaster co-founder Dan Romero today August 23. Romero has also noted that many of Farcaster’s users and developers “are building on the OP Stack across OP Mainnet, Base & Zora.” Once the cursory steps for the migration are done, the next step will be the enabling of permission-less sign-ups which will finally open up Farcaster to the broader world. This is a big step for Farcaster, especially with OP Mainnet picking up steam and the recent increase of interest in social dApps. At present, Farcaster is still on Ethereum, with a big chunk of its data stored offchain in servers. But the recent growth and developments in Ethereum’s layer 2 ecosystem have given developers a wide range of tools and options. OP Mainnet, as mentioned, is currently picking up steam with its recent ‘Bedrock’ update that became the first step in its goal of creating a “superchain”. The update paved the way for higher transaction throughput but with lower gas fees. This migration is considered strategic, especially given how Ethereum L2s have been rapidly evolving and are now processing nearly five times as many transactions per second (TPS) as the primary Ethereum network. Projects that operate in the Ethereum ecosystem, like Farcaster, are recognizing the advantages of Layer 2 solutions and are subsequently shifting their focus. Farcaster's migration move is indicative of a broader trend in the world of Web3, where platforms are seeking to leverage the enhanced transaction throughput and reduced fees of Layer 2 and 3 solutions. For instance, Lens, another decentralized social media protocol developed by Aave, operates on a specialized Layer 3 appchain. With layer 2 protocols optimizing their transaction throughputs, the potential for decentralized social apps like Farcaster could be endless, especially with OP Mainnet’s collaborative vision as manifested in its goal of a superchain. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The social app Friend.tech has registered a big increase in protocol fees, generating fees in excess of $1.4 million over the past 24 hours. The jump in 24-hour fees places it in the top three projects for fee generation, only behind Ethereum and Lido, according to data from DeFiLlama. A Significant Jump In Fees With the protocol fees generated over the past 24 hours exceeding $1.4 million, Friend.tech has surpassed several prominent blockchain projects when it comes to fees generated. This includes projects such as Tron and Uniswap. Currently, the project sits only behind Ethereum and Lido Finance, according to data sourced from DeFiLlama. Data also shows that the recorded fees for the protocol for the last week were $2.99 million, out of which $1.49 was revenue. Friend.tech is a social app that operates on Coinbase’s Base Layer-2 chain. The social app is integrated with platforms such as X (formerly Twitter), allowing users to trade tokenized shares directly in one another’s social profiles. Shareholders get plenty of unique perks, such as excluding access to content and access to private chat rooms. Friends.tech has only recently gained considerable traction among Twitter users. As a result, the protocol has seen a bevy of new, high-profile members join over the weekend. Prominent new joinees include NBA star Grayson Allen and startup incubator Y Combinator CEO Garry Tan. $26 Million In Volume Since Launch Since the platform’s beta release, Friend.tech has managed to record over 65,000 unique traders of shares, resulting in over $26 million in trading volume. These figures have been backed up by data sourced from a Dune Analytics dashboard created by Crypto Koryo. Friend.tech’s stellar rise to the third position among projects when it comes to 24-hour fees is even more significant when you consider the fact that the platform is currently available and accessible on an invite-only basis. Friend.tech also recently revealed a seed investment from venture capital firm Paradigm. However, the protocol did not disclose the exact amount of the investment from Paradigm. Friend.tech shared some details on X, stating, “Earlier this year, we partnered with @paradigm to build tools for new online social interactions. We’re grateful for the community’s warm reception and excited to continue growing with you all.” Critics Not Convinced While a majority of crypto heavyweights have been extremely bullish about the decentralized social media app, some critics remain unconvinced and have advised caution. Crypto commentator Yazan highlighted several factors that, according to him, indicated that the app had between six to eight weeks before share prices and general activity on the platform registered a significant drop. Yazan stated, “Let me tell you one thing. Something isn’t right about @friendtech. Creators making money from a group chat that doesn’t even work when you can’t even reply directly to people? The way pricing works is ridiculous and can be easily taken advantage of. Pumps and dumps.” He also argued that the rate at which the share prices have increased is unsustainable. “The market making that guarantees that the app makes the most money along with creators — the price goes up too fast. How come there’s 100 holders, and the price is 1 ETH — 1 ETH to be able to see a private chat?” Meanwhile, in a thread on X, the pseudo-anonymous software engineer Cygaar stated that the price of a user’s shares on the app is proportional to the square of its outstanding supply. This means that as supply increased, the price increased exponentially. Web3 marketer Legendary drew comparisons with BitClout, a decentralized social app launched in 2021 that gave a bearish outlook regarding Friend.tech’s longevity. He stated that the platform would eventually collapse like BitClout did. “I think the platform will collapse as BitClout did. We are in a bear market, and there’s nothing to do. Everyone jumps on an opportunity to make money, but I think the platform will be done within the next weeks to months.” However, some have shared a far more positive outlook and have praised the decentralized social media app for its novel developments in UX when it came to crypto applications. The co-founder of Jokerace and EcoDAO, David Phelps, called Friend. tech’s UX as the “greatest UX crypto has seen.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Most crypto industry heavyweights have been bullish about the new decentralized social media app friend.tech, but some critics warn it's getting too hot too quickly.

BTC Battles, a new and exciting social game incorporating DeFi, Bitcoin, and prediction elements, proudly presents its decentralized social game, BTC Battles, constructed on the Polygon network. BTC Battles offers a decentralized and transparent gaming experience whereby participants can use their digital wallets. This removes the need to depend on a centralized platform, which should […]

Developers pointed out the "monopolization of content and data" in centralized social media platforms as a need to create a decentralized alternative.

[PRESS RELEASE – Los Angeles, California, July 6th, 2023] DeSo, the leading layer-1 blockchain for decentralizing social media, has issued a groundbreaking challenge: a $1 million bounty for visionary founders capable of building a decentralized competitor to Reddit using its infinite-state blockchain. This unprecedented opportunity arises amid escalating discontent with centralized social media platforms, which […]