Friend Tech to Share 25% with Early Backers in User-Controlled Crypto Launch

Friend Tech, a Web3 social platform, has recently announced a significant shift in its operational model, marking a bold experiment in the cryptocurrency space. During a board meeting, investors agreed to relinquish their rights to sell tokens, allowing the platform to create what is being described as the first truly user-controlled currency. This move has sparked a mixture of skepticism and excitement within the crypto community, with some users still uncertain about the future value of Friend Tech points, though there is a plan to share 25% of the value with early supporters. Despite this, the initiative has received support from notable figures in the industry, emphasizing the need for more innovative experiments in the crypto world. The decision not to have the tokens backed by Paradigm further underscores the platform's commitment to decentralization. This development follows Friend Tech's completion of a seed round in August of the previous year and hints at a potential revival for the platform, with plans for a Token Generation Event (TGE) being hinted at by users. Additionally, there's a mention of people who sold Friend Tech points at $1 OTC potentially facing regret.