Friends With Benefits is a social club running on crypto. Who joins?

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Friends With Benefits, known as the digital Soho House, relies on cryptocurrency to give members an onramp to events and online investments. Photo by Glenjamn.

Friends With Benefits (FWB) is a decentralized autonomous organization that’s a social club and investment group at its core. It uses a new internet called Web3. It differs from Web2, which is where you upload pictures on Instagram, or tweet a pithy comment about politics.

FWB has been compared to a digital Soho House or The Wing, which are exclusive members-only clubs offering various benefits in exchange for sometimes hefty membership fees.

Alexandra Hooven and Joey Rubin run the LA chapter of Friends With Benefits. Photo courtesy of Friends With Benefits.

The difference is that FWB relies on cryptocurrency or tokens, instead of membership dues, to gain access to experiences the club curates both online, like in the main Discord channel, and in person in select cities. And if a member doesn’t want to be in the club anymore, they can easily sell off their tokens, unlike at Soho House.