Content creators from OnlyFans creators are flocking to the buzzy new crypto app Friend.tech.
Build on the newly launched Base network, Friend.tech is a Twitter-linked app that enables tokenized accounts into “keys.” Users that buy an account’s keys, then get access to a private chat group of the respective accounts.
The migration of new users likely picked up speed after the app enabled sending photos on the app yesterday.
You can now send photos to your key holders. Say cheese😁 pic.twitter.com/pzu7xNuvxm
— friend.tech (@friendtech) August 25, 2023
OnlyFans is a subscription-based social media platform that lets accounts earn money for sharing their photos or videos. The content is often of an adult or explicit nature.
Popular OnlyFans accounts made up some of the top trending accounts on Friend.tech Friday morning.
The trending accounts on Friend.tech. Source: Friend.tech
Around four OnlyFans content creators have entered the list of top 50 most-valuable accounts on Friend.tech alongside crypto influencers.
Ranked 13 on the list, JenfoxxUwU’s Friend.tech keys currently fetch 0.87 Ethereum, or $1,435, while her monthly OnlyFans subscription costs $3.75.
Several other Friend.tech users have noticed the influx of OnlyFans accounts on Friend.tech.
Seraphim, a DeFi contributor at numerous projects like Lido and Vertex Protocol tweeted this morning, “we literally have OnlyFans girls on Friend Tech.”
We literally have OnlyFans girls on Friend Tech
This is the adoption we wanted
— Seraphim (@MacroMate8) August 24, 2023
It appears that the content creators are using the new social media app on Base to expand their reach and attract new users.
Some creators are also using the app to attract users to other platforms like Telegram.
Friend.tech vs OnlyFans
With the inclusion of images on Friend.tech, both apps serve similar purposes: enabling paywalled content sharing.
With OnlyFans, the money goes directly to the content creator, albeit with some fees attached to it.
Base Daily Transactions Outpace Ethereum on Friend.tech Frenzy
However, on Friend.tech, the ETH earned from selling keys are stored in a smart contract, which uses a bonding mechanism to price the keys based on the number of holders and keys sold.
According to Cryptokoryo’s Dune analytics dashboard for Friend.tech, the inflow of money into the smart contract registered a spike yesterday.
The amount of ETH transferred to Friend.tech contracts for key purchases. Source: Dune.
In total,116,036 users on the platform have deposited ETH worth $74.4 million on the app.