Neynar acquires Farcaster for $1B, supports builders

Neynar acquires Farcaster for $1B, taking over its protocol, app, and Clanker. The original team will step back as Neynar supports builders and maintains user continuity.

Neynar has acquired Farcaster, a decentralized social media protocol built on Ethereum and Optimism, in a deal valued at around $1 billion. The acquisition includes Neynar taking control of protocol contracts, code repositories, the main application, and Clanker, with some Clanker team members joining Neynar. Over the next few weeks, Neynar will assume responsibility for all operations, maintenance, and ecosystem coordination. The original Farcaster team, including its founders, will gradually withdraw from daily operations. Neynar, already a core infrastructure provider for Farcaster, aims to help builders progress from idea to recurring revenue within a builder-first network. This acquisition is seen as a natural evolution given Neynar’s existing role in the ecosystem and marks a significant step for Web3 social platforms. Farcaster had previously raised about $180 million, including a $150 million round in May 2024. No immediate changes to user experience or product features are planned.