SocialFi Friendzone App To Operate On Polygon Network From This Month

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Joanna K

Editor

Friendzone, the decentralized social marketplace, has today (7 February) announced that it's set to join the Polygon PoS ecosystem – which is being hailed as a huge step for Web3 social application adoption. 

From 26 February 2024, Friendzone will operate on the Polygon PoS blockchain and at a later date, will expand to Polygon zkEVM – the zero-knowledge Ethereum Virtual Machine compatible chain.

Polygon tweet

According to the app, the pre-launch will initially only open to the Friendzone network of partners, investors and early registrations. 

Friendzone, who say they have more than 3,000 early users, is engineered by brains from Band Protocol, Koinly and Synthetix and utilizes real-time pricing and reward distribution to create online communities.

CEO and co-founder Kevin Lu said: “Our vision has always been to revolutionize the social media landscape through the power of Web3 technologies.

"Choosing Polygon PoS as our first blockchain was a strategic decision rooted in our shared commitment to scalability and our alignment in the development of consumer-centric Web3 applications," he added.

Web3 social media

In addition, Friendzone has recently tweeted: "We're excited to tap into @0xPolygon to power the world's first social capital marketplace.

"With Polygon, we are excited to create the unified layer for social identities, verification and rewards - sparking the first on-chain social circular economy.

"On-chain social graphs unite Web3 projects, but lack a common layer for value accrual. Yet, existing solutions lack a layer for value accrual.

"Building a protocol to capture and aggregate on-chain social graph value for Web3’s application ecosystem and new ones to come, presents scalability challenges."

The app added: "Off-chain solutions create centralization risk, and raise concerns about censorship on both the creator and consumer."

Friendzone’s news comes on the heels of an airdrop campaign last December. According to reports, its community will see a 25 million FZE giveaway ahead of the beta launch.