What Is The Top friend.tech Account?
Cobie is the top friend.tech account, with $144.4k (81.94 ETH) in royalties.
The founder of friend.tech, 0xRacerAlt follows closely as the second top friend.tech account, with $101.7k (58.04 ETH) in royalties.
HsakaTrades takes the third spot, with $100.6k (57.06 ETH) in royalties.
The other friend.tech accounts on the list had earnings ranging from $14.9k to $75.5k within just 12 days of the beta launch on August 11, 2023. This is an average of $1.2k to $6.3k earned per day, which would lead to an annualized rate of $453.2k to $2.3 million (if daily earnings stayed at current levels).
Notably, Cobie, 0xRacerAlt, and HsakaTrades collectively contribute 34.6% of the total royalties earned among the top 25 top friend.tech accounts.
Rapid Earnings Timeline
16 out of the top 25 top friend.tech accounts established their profiles within the first three days of launch, resulting in an account age of 9-11 days.
These early adopters were already prominent Crypto Twitter (CT) accounts, thus they managed to rapidly attract attention from the CT community on friend.tech.
Meanwhile, the remaining 9 accounts within the top 25 entered the scene more than a week after the launch of friend.tech. The age of these accounts ranged from 0 days to 4 days.
Of these 9 accounts, 6 were already influential CT accounts that eventually joined the platform. Their entry on friend.tech propelled them to the top of the charts in a short period.
The other three are notable figures from the esports industry: Faze Banks, 100T Nadeshot, and Faze Rain. Despite not being CT natives, they managed to earn $75.5k (44.91 ETH), $27.6k (16.38 ETH), and $19.8k (11.81 ETH), respectively, just a day after joining the platform.
Mainstream Adoption of friend.tech?
21 out of 25 of the top 25 friend.tech accounts were existing popular CT accounts. However, non-CT accounts are already gaining momentum rapidly, with three accounts, namely Faze Banks, 100T Nadeshot, and Faze Rain, quickly ascending to the top 25 in a single day. It remains to be seen whether non-CT accounts will continue to gain traction on the platform.
The other non-CT account in the top 25 is friendtechindex, which reportedly purchases shares of the top friend.tech accounts and distributes their content with its shareholders.
What is friend.tech?
Launched in beta on August 11, friend.tech allows users to tokenize their Twitter account through share trading, facilitating private messaging between shareholders and the social network owner. The platform imposes a 5% transaction fee, part of which is shared with account holders.
We explore how profitable some of these accounts are, 12 days after its launch.
Methodology
This study examines the top friend.tech accounts by royalties earned, between the launch of friend.tech on August 10, 2023 to August 22, 2023 (up to 0245 UTC+0). The analysis solely considers royalty earnings and excludes any other external revenue streams, such as the selling of their own shares. Royalties were converted from ETH to USD according to CoinGecko price data at the time of sale. Data was obtained from Dune Analytics (@cryptokoryo).
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