Farcaster Raises $150 Million!

  Farcaster Raises $150 Million! 

Farcaster, a blockchain-based social network, has successfully raised raised $150 million, led by Paradigm. This funding round saw participation from major players like Andreessen Horowitz (a16z), Haun, USV, Variant, Standard Crypto, and more.

Farcaster's co-founder, Dan Romero, announced that the funds would support the platform's operations for many years. The team's upcoming focus areas include:

Growing the number of daily users

Adding developer primitives like "channels or direct messages"

Romero also mentioned that the project will continue hiring specialists to enhance the platform. Since moving to a permissionless model in October 2023, Farcaster has achieved 350,000 paid subscriptions and a 50-fold increase in online activity.

Farcaster's popularity has surged since late January 2024, thanks to the launch of the Frames functionality, which lets developers embed interactive features directly into messages.