A competition hosted on the web3 social media platform Friend.Tech is offering a unique prize: the Pepe social media handle. The individual behind the @pepe handle on Twitter/X, who is also known for creating products like pepe.wtf, illiquid.xyz, cyborg.art, and others, has outlined the rules for “The @Pepe Game” on Friend.Tech.
In this competition, the owner of the @pepe Twitter/X account has offered to transfer it for free to the owner of the Friend.Tech (FT) account with the highest accumulation of their Keys when @Pepe reaches the number one spot in the Top User ranking on Friend.Tech based on Key value in ETH. This unique game has been described as a “schizophrenic experiment.”
Friend.Tech operates on a system where users must possess “keys” to access specific channels. As more individuals join a particular channel, the price of the key increases.
The winner of this competition is not necessarily the biggest spender or the most recent buyer, as various strategies can lead to victory. Early participation is incentivized by the rules of the game.
Friend.Tech Competition Offers Unique Prize: @Pepe Social Media Handle
Each time a key is bought or sold, a 5% fee is directed to the channel’s owner. Friend.Tech has collected over $12 million in fees from its 160,000 users as of September 20.
After the announcement of the competition on Friend.Tech, the price of the Pepe key experienced a significant spike, reaching as high as $3,500 from approximately $330 before ultimately stabilizing at over $1,900. The channel owner has generated nearly $20,000 in platform fees, according to data from the Friend.Tech tracker Octav.
It’s important to note that the @pepe account on X is distinct from the @pepecoineth handle, which is associated with the popular Pepe memecoin.