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Farcaster has been acquired by the ecosystem core client Neynar, and the two co-founders will gradually step back to work on a new project.
BlockBeats News, January 22, Farcaster founder Dan Romero announced on social media that Neynar is acquiring Farcaster. In the coming weeks, the existing team will transfer the protocol smart contracts and codebase, the Farcaster app, and ownership of Clanker to Neynar. Neynar will be responsible for running and maintaining all subsequent work. They are the most suitable candidates to take over the leadership of Farcaster, and they will soon share a new vision focused on builders.
Dan Romero said, "This was not an easy decision to make. Farcaster and the people who built on top of it mean a lot to the founding team. We are very proud of everything the team has built and everything the community has built with us. But after five years, it is clear that Farcaster needs a new approach and new leadership to fully realize its potential."
Some members of the Merkle team (Farcaster's founding company), Varun Srinivasan (another co-founder), and Dan Romero personally will gradually step back from Farcaster's daily work and move on to new projects.
It is reported that Neynar is the most core third-party infrastructure and developer platform in the Farcaster ecosystem and one of the earliest Farcaster clients. Its infrastructure has supported most of the developer activities in the Farcaster ecosystem.
BlockBeats previously reported that Farcaster announced a $150 million funding round in May 2024, the second-highest funding amount in the encryption field that year. The round was led by Paradigm, with a16z crypto, Haun, USV, Variant, Standard Crypto, and others participating. The top-tier list of investors made Farcaster one of the hottest projects at the time, with the funding round even being seen as a sign of the beginning of the thriving decentralized social media era.
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