Haun-backed Neynar acquires Farcaster after founders pivot to wallet app

Neynar, a startup focused on decentralized social media infrastructure and backed by Haun Ventures, is acquiring the Ethereum-based decentralized social media protocol Farcaster. Farcaster founder Dan Romero announced the transfer of ownership of protocol contracts, code repositories, the Farcaster app, and Clanker to Neynar, which will manage and maintain everything going forward. This acquisition follows Romero and co-founder Varun Srinivasan's decision to step back from the protocol to focus on building a Farcaster-based wallet app, as their 'social-first' approach was deemed unsuccessful after 4.5 years. Romero expressed confidence that Neynar is the right entity to lead Farcaster to its full potential. Farcaster was last valued at $1 billion following a $150 million Series A in 2024.

(Source：The Block)