Short answer, too early to say for sure but it definitely walks and talks like a scam IMO.

First off what is it? Well, from what I understand it's pretty much like Telegram where one can create and host an own group but now, your followers/users have to pay before they can join the group and hear what you have to say. But it's not that simple as followers can join groups by buying the creator's "shares". Here they will feel cool and special to be apart of a small world where privileged users can interact directly with the creator by literally paying them money. I don't have first hand experience in it to be honest since I couldn't test it out myself.

You need to go to friend.tech on your phone and directly install the app before you can create an account. But I already met the first closed door when I after that needed a referral code from an existing user, needless to say I don't know anyone who's already using it and pretty much gave up there. So I have no idea what happens if you call out a creator's scam and get blocked from the group, but you can also "sell the shares" and leave the group yourself. Now I can't go and try this out but logic would dictate that if the group gained followers after you joined/"bought shares" you will sell at a profit and if it lost support you will lose money (?) If so then the only ones at risk of losing are smaller/follower accounts, unless some influencer decides to really get edgy and buys like 40% of his own shares and then gets caught grooming or in a racist rant or something.

Anyway what we do know is that you also need to link you Twitter/X account to your ETH wallet and then also give friend.tech a whole bunch of permissions. You know you're late to something when they already had their first scandal/data leak. Yeah reports are that friend.tech already had it's first leak where over 100.000 users wallet info became public knowledge. Although friend.tech denies this was 'a leak' and that connecting your ETH wallet to your X account de facto makes the pairing public knowledge by looking at their public API.

Now onto the more troubling stuff: A pseudo-anonymous team that already abandoned some wearable NFT thingy:

I don't care if they failed before at some other project, after all the only people who have never failed at anything are those that simply never tried anything. It's A) the way they went about it by pulling a Hoodini and more importantly B) The entire ***** team is anonymous apart from some online social media accounts. IDK maybe they just wanted to be the 'Satoshi' of cute wearable NFTs. Giving the world that marvelous new tech without needing to fear for their lives. You be the judge.🧑‍⚖️