Friend.Tech Reassures Users: Web App Will Remain Fully Operational Amid Smart Contract Changes

Friend.Tech Reassures Users: Web App Will Remain Fully Operational Amid Smart Contract Changes

Web3 social media platform Friend.Tech has addressed recent concerns, confirming that it has no intention of shutting down its web app despite changes to its smart contracts. The platform’s developers took to X (formerly Twitter) on September 10 to clarify that these updates will not impact the current functionality or introduce any new fees.

The statement follows speculation triggered by a significant event on September 8, when Friend.Tech’s developers transferred control of the platform’s smart contracts to Ethereum’s null address, effectively freezing the system and halting any future updates. This led some users to believe that the platform might be winding down.

Since its launch in August 2023, Friend.Tech has made a name for itself by enabling users to buy and sell “keys,” which grant access to private channels and exclusive content. The platform quickly gained popularity, with user engagement and revenue briefly surpassing even that of Ethereum. Its innovative model offered influencers in the Web3 space a new way to monetize their presence through the trading of these keys.

Despite its initial success, user activity on Friend.Tech has tapered off in recent months. However, the platform has assured its community that it will continue to operate as usual, even though no new features will be introduced due to the recent contract changes. This announcement had a positive effect on the platform’s native token, which surged by 60%, reaching $0.097.