What Is Sofamon? 💟

Sofamon is a crypto-native social platform built around collecting and trading onchain Telegram stickers, and William M. Peaster writes that it may be the first real answer to what a crypto version of Reddit Collectible Avatars could look like. The project launched its beta on Base on March 26 and generated over 3,300 ETH in trading volume and over 95 ETH in revenue within its first week. Its stack combines Telegram, Base and Privy embedded wallets, and it uses a Friend Tech-style bonding curve for pricing. Access is invite-only, and the author reports that the stickers do not appear to be NFTs per se, based on his scan of the smart contract.