Friends With Benefits (FWB) took the crypto world by storm in 2020, presenting an exclusive digital collective that merged technology and culture in revolutionary ways. Initially known for its hipster appeal and celebrity members like Erykah Badu, FWB captured global attention as a unique social token experiment. But as the world of Web3 evolves, so too has FWB, aiming to redefine its mission in 2025 through meaningful innovation and practical applications.
### Friends With Benefits: A Decentralized Community with a Vision
Friends With Benefits began as an experimental digital collective powered by a DAO and tokenized community structure. Emerging from the pandemic-induced isolation, FWB offered a space for creativity and connection, quickly becoming the “decentralized Soho House” of crypto discourse. Members purchased the FWB token to gain access to exclusive IRL events, global networking opportunities, and creative collaborations. This emphasis on bridging the virtual and physical worlds defined FWB’s appeal early on.
However, even at its peak, many critics struggled to define what FWB truly “did.” While it excelled at fostering FOMO through curated exclusivity and well-publicized partnerships, skeptics saw it as a crypto-powered social club with little substance. The New York Times even poked fun, painting it as a collection of young, creative crypto enthusiasts flush with disposable income, yet lacking tangible innovation. Despite this, FWB’s valuation climbed to $100 million after securing $10 million from investors like Andreessen Horowitz.
Fast-forward to 2025, Friends With Benefits has adopted a more focused, impactful mission, choosing to innovate at the crossroads of Web3 and the creative industries like music, film, and design. No longer merely a tokenized chatroom, FWB is positioning itself as an incubator of real Web3 utility.
### Friends With Builders: A New Era of Web3 Creation
In 2025, FWB unveiled its latest initiative, Friends With Builders, a program designed to cultivate practical, innovative solutions for Web3’s future. Partners like AWS, Filecoin, and QuickNode lend weight to the initiative by providing tools and expertise for participants. Unlike traditional hackathons, which often prioritize rapid development over meaningful outcomes, Friends With Builders lets participants work over months, with the final product as the primary “reward.”
Rather than emphasizing Web3 as an end in itself, this program seeks to develop digital products for real-world use. For example, early-stage projects in the program’s first cohort focus heavily on AI applications, paving the way for mainstream tech integration. Bresnitz, FWB’s CEO, describes the intention as shifting from a novelty-focused perception of crypto to a utilitarian one. A prime example of this ideology is Blackbird, a restaurant loyalty app featuring subtle crypto elements like its token, FLY, without overtly promoting blockchain; the product’s value lies in its utility, not its underlying tech.
With quarterly cohorts and applications currently underway, this initiative aligns with FWB’s larger goal of inviting fresh voices into the Web3 space. By creating spaces for creative technologists—including online meetups and in-person showcases—Friends With Builders offers developers a holistic path to build and iterate meaningful projects collaboratively.
### Building the Future of Crypto Beyond Speculation
The evolution of Friends With Benefits represents more than just a shift in its operational model; it highlights a broader trend within the crypto industry of moving beyond speculation toward actualization. Bresnitz acknowledges that although Web3 has laid impressive technological foundations, the industry often struggles to convey its value in understandable, relatable products. Through Friends With Builders, FWB encourages a novel breed of creators who prioritize user needs and practical implementation over flashiness or financial hype.
As part of its relaunch, the initiative also explores new avenues for collaboration with its partners. Builders gain access to developer credits, virtual communities via Discord, and direct mentorship from industry veterans at companies like Alchemy and ThirdWeb. Additionally, final products from each cohort are presented at prominent IRL gatherings, including FWB’s annual FEST event and Base Camp by Base, cementing the program’s dedication to integrating the digital and physical aspects of its ecosystem.
FWB’s ability to nurture projects with potential mainstream appeal marks a defining moment in the maturation of crypto. Its pilot with Worldcoin underscores this promise, with 40 mini-app projects emerging from the program and several already attracting investor interest. The Buenos Aires event exemplifies how decentralized communities can act as catalysts for real innovation, forging connections that carry momentum far beyond the program’s timeline.
### Redefining Crypto’s Purpose for the World
At its core, Friends With Benefits strives to answer one of Web3’s most pressing questions: What can crypto actually provide to the world? Bresnitz is candid about the industry’s shortcomings, advocating for a “back-to-the-drawing-board” mindset to rethink crypto’s role. His leadership reflects a shift in priorities, focusing on redefining what it means to build with blockchain: creating tools that feel seamless and useful without the need to overemphasize the underlying technology.
As FWB continues to evolve, the group is laying a blueprint for other Web3 platforms to emulate. Its bold initiatives and emphasis on practical creativity—paired with openness to experimentation—signal a turning point for the sector. By fostering innovation that transcends speculative tokens and focuses on solving real-world problems, FWB is proving that the future of crypto can indeed be tangible, valuable, and deeply meaningful.
| Title | Details |
|---|---|
| Launch Year | 2020 |
| Current Valuation | $100 Million |
| Key Partners (2025) | AWS, Alchemy, Filecoin, Base |