🗿 Friend.tech goes viral 📲

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GM. TWO major updates for the state of AI in the arts this week. And another crypto app went viral. But like web3 viral, aka 100K users. Will it live up to the hype or fade like a meme coin?

We have the answers.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

No FOMO 🗿 : Friend.tech Breaks 100K Users 📈

No FOMO News 📰 : Youtube Sets AI Music Standards 🤖🎶

You Raised? 💰 : $150mil Deployed Last Week 🤑

AI Intel 🤖 : AI Art Can’t Be Copyrighted 🎨

Group Chat Debate ⚖️ : Are POAPs Actually a Joke? 🤡

Friend.tech Breaks 100K+ Users

Decentralized social app Friend.Tech broke 100K users this week (or at least 100K wallets). Let’s dive a little deeper on the latest crypto hype.

Fast Facts

• Friend.Tech has over 100,000 wallets signed up since its Aug 10 launch

• The platform has generated over $1.1 million in fees

• Major (non-crypto) celebrities like streamer FaZe Banks and NBA player Grayson Allen have made accounts

• The platform allows you to buy “shares” in popular X (Twitter) accounts.

Where it’s going:

Who remembers Bitclout? Is that still a thing? There are only two potential outcomes from here:

1. Friend becomes the new gold standard for speculating on the social prowess of influencers and public figures

OR

2. This fad fades in the next 6-12 weeks, and 1-5,000 people who made a little bit of $$ on the app will blindly advocate for the app until its inevitable demise

I don’t have a crystal ball, but I’m leaning toward #2 on this one. We’ll check back in around Thanksgiving to see if we’re right. sets reminder on phone

No FOMO News 📰

• YouTube releases ‘principles’ for working with music industry on AI tech (Cointelegraph)

• Hong Kong bets on crypto as sector’s star dims over crackdowns overseas (Al Jazeera)

• Oman launches $350M crypto mining center: Report (Cointelegraph)

• Nomura-Backed Crypto Custody Firm Komainu Wins Operating License in Dubai (CoinDesk)

• Friend.tech Founders Say Viral Crypto App Is Surprising Them Too: 'We Want to Catch Our Breath' (Decrypt)

• Thailand Warns Meta to Rein In Crypto Scams or Face Expulsion (CoinDesk)

• Blockchain Capital’s Bart Stephens Lost $6.3 Million In SIM-Swap Crypto Hack (Forbes) 

AI Intel 🤖

• AI-generated art cannot receive copyrights, US court says (Reuters)

• Singapore workers are the world’s fastest in adopting AI skills, LinkedIn report says (CNBC)

• Parkinson's disease could be detected early with AI scans, scientists say (BBC)

• Zoom shares jump as CEO says company to develop and deploy AI tools (CNN)

• Dipp uses AI to fix bottlenecks between marketing and design teams (TechCrunch)

• YouTube releases ‘principles’ for working with music industry on AI tech (Cointelegraph)

You Raised? 💰

In the last week, nine companies in the crypto world raised $158 million. BitGo is responsible for most of it pumping their valuation to $1.75B. Here are the highlights:

• BitGo: crypto company receives a $100 million investment (Cryptonomist)

• ZetaChain raises $27M in equity round to enable chain-agnostic interoperability (Cointelegraph)

• Ex-Meta Engineer’s Layer-1 Blockchain Linera Raises $6M in New Funding (Coindesk)

• Zepeto, Jump Crypto Joint Venture ZTX Raises $13M for Metaverse Platform on Arbitrum (Decrypt)

• Hong Kong’s Bitcoin Web3 wallet Xverse pulls in $5m raise (FintechGlobal)

Group Chat Debate

Shameless Shill + Alpha

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