In the wake of Friend.tech’s collapse, Cointelegraph spoke with industry leaders to find out what went wrong and what comes next.
The social finance (SocialFi) sector can learn valuable lessons from the collapse of Friend.tech, helping to drive the next generation of projects to sustained long-term success.
SocialFi reimagines social media with decentralized structures, promising users greater control over their data, privacy and monetization opportunities.
Friend.tech linked its decentralized social media platform to X, catching a hype wave from August 2023 into 2024. But its token’s price crashed in May and was effectively pronounced dead in August.
