The blockchain-based social media landscape is witnessing a significant development as FriendTech partners with Conduit to establish its own network, Friendchain. This move follows the trend of crypto protocols creating their native networks, as seen with DYDX and Chiliz.

FriendTech, a prominent player in the Web3 space, aims to utilize its token, FRIEND, as a fully transferable gas token on the new network. The announcement has sparked a 15% increase in the token's value, despite the current market downturn.

FriendTech's platform, launched in August 2023, gained rapid popularity on the BASE network, facilitating influencer monetization through Twitter integrations. Although transaction volumes have decreased significantly since its peak, the token's price continues to rise, currently trading above $1.2.

The collaboration with Conduit marks a significant milestone in FriendTech's journey, with the potential to revitalize the platform's growth. As the roadmap for Friendchain unfolds, it may further support the token's upward trajectory, potentially targeting the $1.5 threshold.

In conclusion, FriendTech's partnership with Conduit signals a new chapter in the evolution of blockchain-based social media. With the launch of Friendchain, the platform is poised to regain momentum, offering a promising outlook for the future of Web3 applications.