This is a segment from the Lightspeed newsletter. To read full editions, subscribe.

Crypto’s new viral app isn’t very new at all.

Solana-based social project Clout saw its downloads take off after launching an iPhone app that lets users buy tokenized versions of social media profiles. This is very similar to the premise behind the viral 2023 app friend.tech, which was itself a rehashing of BitClout, a Crypto Twitter tokenization app that went viral in 2021. Friend.tech’s founding team already stepped away from the platform, while BitClout’s founder was just charged with fraud by the DOJ and the SEC.

Clout hasn’t leaned away from its forefathers. The project posted…

Read more on Blockworks