CYBER Surges After Collaboration with Animoca Brands to Create Decentralized Social Identity Layer; Friend.tech Achieves $1M Fees in 24-Hour, More Than Uniswap

Daily Top Performer — Cyber Connect (CYBER)

The SPX index is down 0.01%, this upcoming week will be closely watched for various market events including Zoom and Nvidia Earnings, Existing Home Sales, PMI's, Jackson Hole Symposium, and Revised University of Michigan Sentiment. The broader cryptocurrency market is up, with Bitcoin and Ether rising 0.35% and 0.79% respectively, in the past 24 hours. 

Today’s outperformer is CYBER, which surged 5.4% in the past 24 hours following partnership with Animoca Brands.

CyberConnect (CYBER), launched in November 2021, is a decentralized social protocol that prioritizes identity sovereignty for wide adoption. Users create profiles on compatible blockchains, maintaining decentralized identities and ownership of social data. CYBER has partnered with Animoca Brands, integrating a decentralized social layer into Mocaverse, Animoca's NFT collection. This collaboration utilizes CyberAccount, enhancing user experiences and providing seamless access to games and services across Animoca's portfolio. CyberConnect is partnering with many brands and growing rapidly in awareness. 

Check Out the Latest Prices, Charts, and Data of CYBERUSDT!

Talk of the Town:

Friend.tech, a decentralized social network launched in beta on Aug. 11, generated over $1 million in fees in a 24-hour period on Aug. 19, surpassing Uniswap and the Bitcoin network. The platform, built on Coinbase's layer-2 Base, allows users to tokenize their social network by buying and selling "shares" of connections, charging a 5% fee on transactions. Since its launch, it has generated $2.8 million in fees, with total project revenue at $818,620 and over 650,000 transactions from more than 60,000 unique traders. The project, believed to be created by pseudonymous developer Racer, targets crypto influencers and Web3 projects, and its unique revenue model and price dynamics have sparked analysis and discussion in the crypto community.