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· One min read


The Web3 social platform Friend.Tech, launched in August 2023, enables users to tokenize and trade their social influence. While attracting 139K users, Friend.Tech's economic model and business strategy face significant challenges. After collecting and analyzing relevant on-chain data, we find that the platform's economic model generates early substantial returns for key opinion leaders but also restricts community size and stable profit potential, with 99.4 percent of accounts having fewer than 100 followers. Numerous speculative users are attracted to the platform, but only 22.1 percent of speculative returns are positive, and the trading frequency rapidly declines, with the average token holding period exceeding 4 days. The reliance on new users, combined with an inevitable decline in platform activity, indicates a less optimistic outlook for the sustainability of this economic model. The platform demonstrates a high level of transitivity and tighter social connections compared to existing social platforms. In conclusion, while Friend.Tech appears economically unsustainable, its social model shows promising prospects and serves as a valuable exploration and demonstration for the development of Web3.


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· 2 min read

We stand firmly by the tenets of collaboration and shared success, striving to create lasting value and positively influence Hong Kong’s societal landscape.

About Eurybia

Eurybia Technology Limited is a Web3 technology powerhouse spun off from the Laboratory for AI-Powered Financial Technologies Limited (AIFT) and City University of Hong Kong (CityU). With deep industry insights, technical prowess, and a rich background in research, our team offers comprehensive solutions to the Web3 sector. This includes industry consultation, data analytics, technological advancements, financial innovations, and trading decision guidance.

Market Positioning

As Hong Kong embraces Web3 innovations at a swift pace, we position ourselves as a bridge between CityU/AIFT and the local Web3 landscape. Our primary role is to transfer research and development expertise, thereby driving Web3 technology in Hong Kong, facilitating the onboarding of individuals, bolstering enterprise growth, and advancement of regulatory technologies.

Business Model

For individuals, we extend real-time, comprehensive market insights and Generative AI (GenAI) guided decision support. On the enterprise front, we offer Web3 enhancement services such as industry research, business consultation, coaching, and technical development. Furthermore, we develop regulatory technology solutions tailored for regulatory bodies.

Team Strenths

Under the leadership of Professor LIU Xiaofan and backed by the expertise of the AIFT technical team, alongside CityU research students and assistants, we possess a wealth of research achievement and market know-how. Our team’s strengths encompass tokenomics model crafting and analysis, blockchain data analytics, smart contract development, media data analytics, understanding of social psychology theories, financial innovations, and mastery over AI technologies.


Our vision is to be recognized as Hong Kong’s premier Web3 technology powerhouse. We’re focused on expanding our reputation and revenue by establishing benchmark client cases and attracting investment from prominent institutions. We will continuously transfer research and development from CityU and AIFT to the local Web3 industry.

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