The social media platform based on blockchain technology was once a top revenue-earning platform but saw a decline in usage. However, with the upcoming release of a new version, interest in the platform is increasing.

A significant amount of money has started to flow back into Friend.Tech as users anticipate an airdrop event. Last week, over $7 million was invested in the platform, raising its total value to almost $40 million. Weekly fees have also surpassed $1.3 million again, resulting in revenue of over $600,000.

Using Base, a layer-2 network, Friend.Tech allows users to issue "shares" for access to exclusive group chats with crypto influencers on X. These chats provide trading insights, token recommendations, and seed-funding opportunities, making the shares more valuable.

During its peak in August, Friend.Tech was generating over $1 million per day in fees and had gained more than 100,000 unique users. Shares of popular crypto personalities like @Cobie and @HsakaTrades were selling for as high as three ether, or nearly $5,000 at that time.

The surge in activity comes ahead of the launch of Friend.Tech's version 2, scheduled for release after April 20. The update aims to attract new users by expanding the platform beyond X.

Devs also hinted at a FRIEND token over the weekend. Users are speculating that these tokens will be distributed based on the points they earn for using Friend.Tech before the token release.

Despite a decrease in activity after the initial buzz, the platform is now experiencing a revival in interest with the anticipation of new developments like the V2 release and potential airdrop.