I dont know if this is the best way to do this, but since I got no ideas from anyone else, this is what I would be doing. I hope this answer might help others as well.
We have 2 tables
notification
-----------------
id (pk)
userid
notification_type (for complexity like notifications for pictures, videos, apps etc.)
notification
time
notificationsRead
--------------------
id (pk) (i dont think this field is required, anyways)
lasttime_read
userid
The idea is to select notifications from notifications table and join the notificationsRead table and check the last read notification and rows with ID > notificationid. And each time the notifications page is opened update the row from notificationsRead table.
The query for unread notifications I guess would be like this..
SELECT `userid`, `notification`, `time` from `notifications` `notificationsRead`
WHERE
`notifications`.`userid` IN ( ... query to get a list of friends ...)
AND
(`notifications`.`time` > (
SELECT `notificationsRead`.`lasttime_read` FROM `notificationsRead`
WHERE `notificationsRead`.`userid` = ...$userid...
))
The query above is not checked.
Thanks to the idea of db design from @espais
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