Why is Friends with Benefits (FWB) crypto rising?

Highlights

• Friends With Benefits Pro (FWB) is a decentralized autonomous organization. 
  
  
• FWB reported having around 16 teams, 40 projects, and hundreds of contributors.
  
  
• It currently has more than 5700 token holders.

Friends With Benefits Pro (FWB) token rose 8.47% on Thursday morning for no apparent reason. The token’s interesting name could be drawing investors’ interest.

What Is Friends With Benefits Pro (FWB)?

The crypto firm added the word “Pro” to its name after suffering a hacking attack in 2021. Friends with Benefits Pro (FWB) is a decentralized autonomous organization (DAO). 

It has added new security features after the attack. FWB claims to use technology for “cultural benefits”.

Its Web 3.0 related projects aim to decentralize web services. The firm’s editorial unit, Works in Progress, publishes information about Web 3.0, decentralization, etc., from time-to-time.

The token was trading at US$52.25 at 10:21 am ET on Thursday.

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FWB offers a ticketing software for real-life events, named Gatekeeper, and an auction platform for NFTs called Gallery. It also hosts online chats, hackathons, and token gated parties in different world cities. The community is now planning a music festival and a fellowship program for Web 3.0 creators from diverse backgrounds.  

Although FWB is not the biggest DAO, its popularity has been growing. Currently, it has over 5700 token holders, including musicians like Erykah Badu and Azealia Banks. At the beginning of the year, FWB had around 16 teams, 40 projects, and hundreds of contributors.

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Founding Members

Friends with Benefits Pro has many founding members. One of them is blockchain and Web3.0 specialist Cooper Turley. He had been a consultant for several blockchain projects since he ventured into the crypto space in 2017. The 25 years old had worked as the managing director of Fitzner Blockchain and as editor and writer to The Defiant and DeFi Rate. 

Its office runs on a Discord server accessible to members having at least 60 FWB tokens.

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According to FWB, its common values are shared identities, diversity, inclusion, etc.

Friends with Benefits also provides a member directory and has chapters in New York, Los Angeles, and London. 

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The DAO is supported by Trust wallet and Meta wallet. Its fully diluted market cap currently is US$52,246,907. FWB’s maximum supply is 1,000,000.

The token is available for purchase on Bitget, Uniswap (V3), and Uniswap (V2).

Bottomline

The group began with the idea of an online club with a private chat room where members can enter after buying the token. Its membership has grown to over 5700. The crypto market is highly volatile. Hence, investors should apply due diligence before investing in cryptos.

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