According to ChainCatcher, Friend.tech token (FRIEND) fell 21.8% in 24 hours and is now trading at $0.066, according to RootData, a Web3 asset data platform.

In addition, Friend.tech is a Web3 social application that allows users to tokenize their social networks. Users buying someone's shares enables owners to exchange private messages with them.

Earlier news, the developers of the Web3 social network Friend.Tech gave up control of the smart contract and the network was actually shut down.