Overview

Friends With Benefits (FWB) has advanced from being a popular crypto community to an established organization that strives to build functional products across various fields, including music, film, and culture.

Key Points

• FWB has introduced a new initiative named Friends With Builders that partners with leading technology firms to aid creative technologists in launching innovative ventures.
• The mission focuses on practicality rather than the usual crypto excitement, with the aim to design products appealing to mainstream audiences.

The Rise of Friends With Benefits

When Friends With Benefits debuted in 2020, it gained immediate attention for its unique offering. Featuring a trendy name and members such as Erykah Badu and Azealia Banks, it became a must-join club. In a time of isolation, it provided a platform that connected people, garnering about 6,000 token holders who became members. The community expanded globally, particularly in tech-savvy cities like Los Angeles and New York City.

As seen in a New York Times piece, the platform was likened to a decentralized Soho House and valued at $100 million after securing $10 million from investors, though its exact objectives were somewhat unclear at the time.

Evolution Toward Seriousness

Fast forward to 2025, FWB is now positioning itself as a serious entity focused on creating sought-after products while looking to extend the Web3 sphere well beyond niche financial services. CEO Greg Bresnitz remarked on this venture saying, “This is a good inflection point for the industry. We have the opportunity to encourage a new wave of builders to the space.”

This week, FWB unveiled Friends With Builders, a program designed to collaborate with firms like AWS and Alchemy among others, encouraging developers to work on early-stage projects with their tools. The upcoming cohort is set to prioritize developing AI-centric products.

Bresnitz emphasized that this initiative is distinct from typical hackathons, which often limit deep engagement to short-time frames. This program seeks to deliver usable products rather than prizes typical of hackathons.

Building for the Future

FWB will convene cohorts for most of the year, with the third quarter dedicated to the annual FEST in California, where projects will be showcased. They recently piloted a cohort with World, garnering 140 applications, leading to the creation of 40 new mini-apps.

Conclusion

Bresnitz remains passionate about the initiative, expressing that there is still much to explore within Web3. “We haven’t cracked the code yet. We need to try something different through these endeavors.”