This article is part of Blockworks’ Web3 Watch, a weekly roundup of the highlights and lowlights from the culture side of crypto.

Friend.tech is either dead in the water or just getting started, depending on who you ask. 

Usage statistics for the SocialFi app show a plateau in dollar inflows and a drastic slowdown in new users. However, those already on the platform continue to project optimism while awaiting a monetization route for airdropped Friend.tech “points.”

After consecutive days of record outflows in late October, Friend.tech’s cumulative dollar inflows plateaued at around $35 million — meaning capital appears to be staying put amid a broader market…

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