Collab.Land Launches First SocialFi Bot, Telefrens, to Empower Crypto Trading on Telegram

[PRESS RELEASE – Denver, USA, December 18th, 2023]

The popular token gating tool is launching the first SocialFi bot on Arbitrum for intuitive token trading within Telegram.

Collab.Land [$COLLAB], an automated member management system for tokenized communities, introduced Telefrens powered by Arbitrum today, the first Social Finance (SocialFi) bot for token-gated groups with royalties rewarding creators and game-changing ease of user-onboarding experience.

All 500 million Telegram monthly active users can use Telefrens starting Dec 18, 2023. This innovative SocialFi bot harnesses the power of Collab.Land’s trusted community tools and the robust chat features of Telegram, setting a new benchmark in the SocialFi landscape.

Telefrens Features

Direct Token Gating: Users can set up token-gated groups automatically through Telefrens on Telegram. This seamless integration removes the friction typically associated with having to purchase membership tokens on exchanges and marketplaces, offering a smoother experience for everyone.

Direct Transactions Within Telegram: Facilitates the buying and selling of Passes (access to groups) for entry into private groups directly within Telegram. Other exciting features, such as one-click copy trading, will be available on day one. After an exclusive crypto-native launch period, fiat onboarding will be available for everyone else.

State-of-the-Art Security Mechanisms: Employs account abstraction and Passkey two-factor authentication to ensure top-level security for users.

Enforcement of Creator Economy Royalties: Built-in through smart contracts, a royalties system of 5% on every buy and sell is enforced. Referral rewards system also allows for refer-and-earn between existing users and new users.

AI Integration: Creator AI agent will refine a custom Telefrens GPT, allowing enhanced community experiences, and giving more insight and data analytics on group members sentiment and community health.

James Young, Founder of Collab.Land, comments, “At Collab.Land, we’re proud to create what web3 needs. Our latest offering, Telefrens, marks a friendly leap into SocialFi, blending easy-to-use features and top-notch security – all while embracing our inclusive community spirit.”

Nina Rong, Head of Ecosystem Development at Arbitrum Foundation stated, “With such a lively community of crypto natives and crypto-curious, Telegram is a natural resource to tap into. Telefrens presents an excellent opportunity for communities to grow and for creators to earn recognition for their contributions to those communities. The fusion of Arbitrum’s cost-effective scaling capabilities with Telegram’s user-friendly interface heralds an exciting new chapter in SocialFi. We look forward to seeing how Telefrens advances SocialFi into the mainstream.”

“Telefrens’ launch is the tipoff of a new season in SocialFi,” said Justin Hyun, Director of Growth at TON Foundation. “True to their name, Collab.Land is proving how projects may build together and enrich the Web3 experience by embracing Telegram bot integration. Today promises a future for user-friendly applications and innovative collaborations to thrive, all amplified by TON’s robust capabilities.”

About Collab.Land

Founded in 2020, Collab.Land is a groundbreaking membership platform that introduced the concept of Token Gating, enabling the creation of exclusive crypto communities on social platforms like Discord and Telegram. This innovative system allows brands and projects to set specific token related criteria for exclusive access, which Collab.Land verifies on the blockchain to ensure members meet and maintain these conditions.

With a track record of safe service over three years, Collab.Land has facilitated over eleven million wallet connections and is now the primary community management tool for more than 50,000 active projects, including high-profile brands and organizations like Prada, Gucci, Adidas, McLaren, and notable NFT projects such as Bored Ape Yacht Club, Pudgy Penguins, Doodles, and Cool Cats.