Crypto Social Media App Faces Backlash for Penalizing Users Opting for Forks and Copies
Summary:
Friend.tech, a decentralized social media app in the world of cryptocurrency, is facing backlash for penalizing users who join forks or copycat versions of its platform. Users who move to these alternatives will forfeit earning points during the beta phase. The decision has sparked criticism from the crypto community and comes after a decline in key metrics since the app's public launch.
A new decentralized social media app in the crypto world, friend.tech, is facing heavy criticism for its decision to penalize users who join forks or copycat versions of its tokenized social media platform. The official friend.tech X account tweeted on August 28th, stating that users who move to forks and copies will opt out of earning Points and forfeit existing points during the beta phase. While not mentioning any specific competitors, some users pointed to a new DeSo application called Shares, which is scheduled to launch its public beta on August 31st. Friend.tech has been distributing "reward points" to its beta testers every week, totaling 100 million points over 6 months. However, the purpose of these points has not been disclosed yet. Some speculate it could relate to friend.tech governance or hold financial significance for users. The announcement has sparked a negative response from the crypto community, with numerous comments criticizing the app's anti-competitive move. The backlash began just an hour after the announcement was posted, attracting hundreds of negative comments and reposts. This decision follows the app's public launch on August 11th, during which key metrics such as activity, inflows, and volume have declined significantly in the past few days.
Published At
8/28/2023 11:56:40 PM
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