Quote Originally Posted by BlossomRose View Post
Yes, you can give it to a friend, and they will be able to play through Early Access if they haven't already pre-ordered. The best use of that code is to find a friend who is a 1.0 player but NOT a legacy player, since they don't get to play in Early Access unless they pre-order the new game.

The code is not in any way bound to the actual game you purchased, and is a separate code that doesn't even get cancelled if you cancel the pre-order.
Thank you very much!