Stealcam, the novel decentralized media platform that recently saw  users auction off selfies and other single images for thousands of dollars apiece, announced this week that it is pivoting from its signature “steal to reveal ” mechanism and rebranding with a new name. 

The platform’s next incarnation, called Friend.tech, will launch in two to four weeks according to its founders. That platform, instead of allowing users to steal NFT-based photos photos from each other at steadily escalating prices, as Stealcam did, will center on social tokens—cryptocurrencies, in this case launched on Ethereum scaling network Arbitrum, tied to individuals and designed to monetize fan communities. 

“Stealcam is a very specific product that has some passionate users,” pseudonymous co-founder Racer told Decrypt. “At the same time, we have new ideas we think can engage a significantly larger audience.”

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Author: Sander Lutz

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