Friend.tech (FRIEND)

friend tech was really a lit time

If you look back, there are dozens of tokens that have failed but the product was well-liked, well-funded, and/or good tech

And it's so clear... every single one of these tokens were destined to fail because of obvious token design blunders:

Brave Browser, Friend Tech, Helium, Worldcoin, Curve, Ondo, Uniswap, Cosmos, Axie Infinity, Blur, LooksRare, Avax, Fantom, STEPN, Celestia, Eigen, Lido, Chiliz, Kaito, ApeCoin, DYDX, Defi Kingdoms, SUI/SEI/MOVE, Starwake, Scroll, ZkSync, Polkadot, Mantle, Jito, Orca, Comp, Dentacoin, NOTCOIN, AMP, VeChain, CRO, and many more

Supply/demand mismatch is a simple concept that many in the idustry still refuse to accept, but the move in alts over the last 12 months has ruined those participants

Decentralized social was supposed to replace Twitter.

Between 2022 and 2024, hundreds of millions in VC funding went into building the infrastructure for this sector.

Users invested heavily as well.

I pulled some data to see how it evolved ↓

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1. @bluesky

→ 43.3M total users
→ Peak daily posters: 1.48M (November 2024)
→ Current daily posters: 631,822
→ No token, and no onchain component

This is a decentralized social app that isn't focused on being a real crypto product.

Still, it's pulling strong numbers, with high user activity.

2. @farcaster_xyz

→ Peak DAU: 103,814 (July 2024)
→ Current DAU: ~10-15K (March 2026)
→ 2.93M registered accounts, most dormant
→ $180M raised at a $1B valuation

Most intellectually active crypto platform by far. Down 85% from peak DAU, $180M raised, with a total of 2.93M registered accounts.

Still one of the few decentralized social platforms with real potential, but it's hard to be bullish when most users are inactive.

3. @LC

→ Peak DAU: 39,140 (July 2024)
→ C