The esports and gaming giants behind FaZe Clan and 100 Thieves, respectively, are reaping a lot of money on the social token application Friend.tech.
Popular esports influencers, including Nordan ‘FaZe Rain’ Shat, Ricky ‘FaZe Banks’ Bengston, and Matthew ‘Nadeshot’Haag, 100 Thieves’ chief executive officer, are among the major passive earners on Friend.tech, a new crypto platform. Since registering for closed beta, they have acquired passive incomes of $19000, $73000, and $27000.
Friend.tech Running Social Tokens Concept on Base Network
Friend.tech is a ‘social finance’ browser-founded app on the Base Network, a new Ethereum scaling network introduced by Coinbase, a crypto exchange. It permits users to trade several individuals’ ‘keys’ (formerly ‘shares’). Further, it is a new phrase on the familiar ‘social tokens’ concept.
Purchasing an individual’s key whose wallet address is connected to their Twitter account offers major buyers access to a devoted group chat for holders alone. Since keys are purchased and sold, the person whose keys are being traded acquires a small ‘fee,’ a fraction of the sale, in Ethereum.
Information from a Dune Analytics dashboard shows that at the time of writing, Banks, FaZe Clan co-owner, has witnessed an estimated 872 ETH in overall volume traded of his keys on Friend.tech. This has offered him more than 43.19 ETH in passive income through transaction fees. Because of signing up on August 20, FaZe Banks has acquired nearly $72000 in less than a day.
FaZe Rain is another content creator who signed up for the platform on Monday. This has garnered more than 226 ETH in volume, leading to earnings worth more than 11.3 ETH (nearly $19000) in less than 24 hours.
Friend.tech Realizes Accelerated Usage Despite Offering Invite-only Platform
On August 20, Nadeshot signed up for FriendTech. This was a professional Call of Duty player before the creation of 100 Thieves, an esports and gaming lifestyle brand. His name has resulted in trading more than 322 ETH, offering him more than 16.13 ETH (nearly $27000) in fees.
Nevertheless, FriendTech is not Nadeshot’s initial foray into crypto. In February 2022, 100 Thieves gave over 300000 Polygon NFTs to celebrate a League of Legends win. In addition, Nadeshot himself formerly used a CryptoPunks NFT as a Twitter profile photo.
Banks are also considered valuable NFT traders accused of previously partaking in pump-and-dump crypto scams. On August 10, Friend.tech’s closed beta was introduced.
Dube dashboard’s data shows that the platform has witnessed more than 1.1 million traded tokens across more than 935000 transactions. The platform is invite-only, and its opening to a vast audience remains unclear.
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